A Realtor Can Bring A Lot To The Table When Buying A Home
In this day and age, a quick search on the internet can make you an expert on just about anything. While this statement is true in many instances, when it comes to home buying, it is not always the case. The reality is that there are certain things that only a professional real estate agent or realtor will know.
Fair Market Price
You never want to overpay for a home; you want to pay a fair market price. However, the problem is that the average buyer does not have any idea what this figure looks like. In addition to the overall specs of the home, development in the area, nearby property values, and even the time of year can all affect the price of a home.
Given that interest on a mortgage loan is based on the purchase price, not the home value, overpaying by even a few thousand dollars will cost you over the life of the loan. A real estate professional knows how to keep you from overpaying.
Many people overlook the fact that buying a home can sometimes be an emotional transaction. The seller wants to feel like they are being treated fairly and not taken advantage of, and the buyer wants to feel like they are getting the best deal.
This range of feelings can lead to emotional scenarios that may cause conflict, a conflict that can easily get out of hand. Real estate agents know all about conflict resolution and serve as the non-emotion-driven-go-between for the buyer and seller. As a result, matters are often settled a lot easier and without chaos.
Very rarely will a home be perfect as-is, unless it is new construction. For example, maybe the ductwork needs to be replaced, the carpet replaced, or a couple of windows need to be replaced. Traditionally, all these requests are included in a contingency plan for purchase.
Sometimes, buyers can go slightly overboard with their contingency requests, and as a result, turn off sellers and cause them to ignore their offer. A real estate agent knows how to help you create a contingency plan that is advantageous for you without causing an issue for the buyer that might keep you from being able to close the deal.
If you are searching for a home to purchase, do not underestimate the value that a professional realtor can bring to the table.