Buying a home is one of the most important purchases you will ever make, so make sure you have the right agent who can provide you with the experience and the service that you deserve.
THE BUYER AGENCY AGREEMENT
A real estate company acting as a 'buyer's agent' must do what is best for the buyer. A written contract called a buyer agency agreement establishes buyer agency. It also explains services the company will provide, establishes a fee arrangement for the Realtor's services and specifies what obligations a buyer may have. Typically, buyers will be obligated to work exclusively with the company for a specific period of time. Confidences a buyer shares with the buyer's agent must be kept confidential. Although confidential information about the buyer cannot be disclosed, a seller working with a buyer's agent can expect to be treated fairly and honestly.
Occasionally, a real estate company will be the agent of both the buyer and the seller. The buyer and seller must consent to this arrangement in their listing and buyer agency agreements. Under this 'dual agency' arrangement the company must do what is best for both the buyer and the seller. Since the company's loyalty is divided between the buyer and the seller who have conflicting interests, it is absolutely essential that a dual agency relationship be established in a written agency agreement. This agreement specifically describes the rights and duties of everyone involved and any limitations to those rights and duties.
SO WHO'S WORKING FOR YOU?
It is important that you understand who the Realtor is working for. For example, both the seller and the buyer may have their own agent which means they each have a Realtor who is working for them ... or, some buyers choose to contact the seller's agent directly. Under this arrangement the Realtor is working for the seller, and must do what is best for the seller, but may provide many valuable services to the buyer.
CODE OF ETHICS
Realtors believe it is important that the people they work with understand their agency relationship.The Code requires Realtors to disclose in writing the nature of the services they are providing, and encourages Realtors to obtain written acknowledgement of that disclosure. The Code also requires Realtors to enter into a written agency agreement with any sellers or buyers they are representing.
Realtors are governed by the legal concept of 'agency'. An agent is legally obligated to look after the best interest of the person he or she is working for. The agent must be loyal to that person. A real estate company may be your agent, if you have clearly established an agency relationship with that Realtor. But often, you may assume such an obligation exists when it does not. Realtors believe it is important that the people they work with understand when an agency relationship exists and when it does not... and, understand what it means.
LOOKING FOR A NEW HOME?
There's nothing we take more seriously than helping people find new homes they love. We'll also spend time learning your personal real estate needs, based on:
Your preferred price range
What style of home you want
What area(s) you want to look in
What extras you would like
Determine what you will qualify for
Your preferred down payment
Your preferred monthly payment
Which types of finance are best for you
How you can get a mortgage
WHY SHOULD I GET A MORTGAGE?
Getting a pre-approved mortgage is a great way to get started. With a mortgage approval, you will be in a better position to negotiate with sellers. You will also be able to close on a property quicker than other buyers. This shows the seller how serious you are about the property, and it will make the seller more comfortable working with you. In a "seller's market," or where supplies are limited, a pre-approved mortgage is essential.
WHAT DO I NEED?
If you decide to apply for a mortgage, you will need to supply information with regards to your income, expenses, and obligations. For a full list of the items you need to bring, please contact us. Got bad credit? That's okay. Many lenders will help you find a solution to your credit problems. We work with various mortgage companies that can help you.