Feeling ready to take on the world of homeownership? Excited about a new space to better accommodate you and your family’s needs? Before you can cozy up in your new living room you need to brave the process of finding and purchasing your new home with the help of a buyer’s agent. While many first-time buyers think they can find the right home themselves, similar to how a listing agent helps a seller, a buyer’s agent is going to be your guide and advisor in the search for a new home. So, what exactly should you ask your buyer’s agent before you start looking at dream homes and even during the process? Here are four important questions to get you started:
What location is right for me?
Choosing the right neighborhood can be tough, especially if you pencil in a work commute, school zones, and frequented hang-out spots. Making sure you are close enough to everything you need and love can be just as important as your budget. Your buyer’s agent has a deep-seated knowledge of the area and knows what neighborhoods to recommend that would best suit your needs. Once you give your agent the rundown about what is important to you, what you need to be in proximity of, etc. they can help you narrow down your search and maybe surprise you with a few areas suggestions you may not have thought of before.
What should I keep an eye out for when walking through a potential home?
Buyer’s agents have an uncanny ability to walk through a property and spot a lot of the concerns that many of us would bypass during our visit. A seasoned buyer’s agent, like the ones we partner with at Ideal Agent, has years of experience under their belt helping them see past the new cabinetry and trendy appliances while noting the potential water damage, pest problems, etc. Those kinds of damages would cost you more in the long run and your agent can help you steer clear of unnecessary and costly home renovations.
Is this house priced fairly and do you think we can negotiate?
An experienced agent has the know-how to negotiate with a listing agent that is asking for more than a property is worth. Similarly, they will let you know if that is the case. Your buyer’s agent can pull the neighborhood comps and help you determine if the listing price doesn’t add up compared to similar homes in that neighborhood and help you navigate from there. Oftentimes the price can be negotiated down, but if not, you’ll know you didn’t get talked into overpaying.
What are some contingencies and concessions that I should include in my offer?
Once you’ve got your eyes on one specific home asking your agent what they include as far as contingencies and concessions is important. According to Fox Business, “Seller concessions are closing costs that the seller will pay on behalf of the buyer. Contingencies, on the other hand, are the conditions you have attached to your offer that need to be met before closing. If the seller agrees to your contingencies, and the contingencies aren’t met, you get your earnest money back. Earnest money is the amount you deliver with the offer to show you’re serious about buying the home.” Think about a home inspection, you want to be sure that the home passes inspection before you officially purchase. Make sure you take a deep dive with your buyer’s agent to nail down what your contingencies and concessions are.
Working with the right agent to buy a home can make a world of difference. Having that added support and guidance during a process that can be difficult and tedious for even a seasoned home buyer can make your experience a lot more successful and enjoyable. Now that you have some important questions to ask, are you ready to meet your Ideal Agent and purchase your dream home?
