When it comes to buying your first home, it's very easy to be in a quandary over what gets priority billing. You want to have your loan secured so that you can relax and go house hunting, but is that the right way to go about things? Read on for some help in determining what comes first, finding a real estate agent or finding a lender.
Find your real estate professional first.
To begin the process properly, begin by locating a great real estate agent. You can get referrals from friends or go to some open houses and see how you mesh with the agent on duty. However you find them, it's important to locate someone before you even consider the financial picture. Make no mistake; finding a lender is important. But finding an agent who is capable of overseeing the entire home-buying experience is even more important.
Why choose an agent first?
1. A lender is not very likely to recommend a real estate agent to you, but a real estate agent is the perfect person to ask about lenders. Experienced agents have probably worked with a number of lenders over the years and will have a good idea of who might be a good fit for you. After all, you must consider that the real estate agent has a vested interest in referring you to a good lender since they will automatically refer you to lenders that have a good record of closing the deal.
2. While real estate agents are not loan professionals, they do have some valuable knowledge about the various types of loans. An agent can evaluate the situation based on what they know about you and recommend a lender that works with just the type of loan product you need the most.
3. A real estate agent can provide you with advice about every aspect of the home-buying process, from where to live and what type of home to choose, to how to set priorities in your search. For example, after speaking with an agent, you might decide to wait a few months for the market in your area to settle down and become more favorable to buyers instead of sellers.
Tips on choosing an agent
1. Spend some time speaking with an agent before you choose one. Be prepared to interview an agent for about half an hour so that you can get a good idea of their level of expertise and their knowledge of the local market.
2. Be upfront with the agents you speak to in regard to your other potential agents. It's only polite to let them know that you are also interviewing other agents for your home search.
3. It could take several months to find a home you like and can afford, so be sure that you are comfortable with the agent and have a "meeting of the minds."
Get started by contacting a licensed realtor today.
Share11 September 2018
When I started looking for a new home, I realized that there were a few things I needed to be careful about. For instance, I really needed to focus on finding a home that would appreciate in value, so I began thinking about investing in the right property. After quite a bit of research, I was able to find a great neighborhood that had a big support system for my family. After we found a house we loved, we worked with a real estate agent to procure it, and it was really nice to feel like we belonged somewhere. Read this blog about ways to find amazing pieces of real estate the first time around.