Key Points to Remember During the Home Buying Process

When choosing your real estate agent to help you with your next home purchase, Buyers Advantage Group Realty wants you to know what your agent should be doing to represent you, to advise you and to be your advocate before, during and after the transaction.

• Find an agent who will represent you 100% without conflict of interest. When ready to start your home search, sign an agency agreement to establish and solidify that commitment of loyalty to you, the buyer.
• Contact at least three local lenders to compare available loan terms & closing costs. Get Good Faith Estimates (GFE) from each of them. Have your agent go over the GFE with you in detail. Your agent should be able to provide lenders with proven track records of superior service, excellent communication skills, and competitive programs.
• Get Pre-Qualified! You want to be ready to submit a contract when you find the perfect home. Your agent will explain how to get pre-qualified. It is very simple.
• Based on your pre-qualification, prioritize your wants & needs in a home, neighborhood, and lifestyle. Speak your mind. Do not be afraid to express your opinion. Your agent will assist you in determining what is realistic.
• Before making an Offer on a home your agent should conduct a "mini inspection" to discover any obvious defects. Also your agent should provide you with a market comparison, research all surrounding properties, and provide you with the history of the subject home. Before you spend or put your money at risk, you need to know all the facts!
• When you make an offer on a home your Agent should discuss a negotiation strategy and then negotiate contract terms in your best interest - Price, concessions, closing date, inclusions, etc. It should be an exciting time not a stressful one.
• After successfully getting the home under contract, give the lender of choice the details on the home and complete your loan application.
• Your agent should recommend several license inspectors, schedule all inspections and negotiate all repairs required. You, when ever possible, and your agent, always, should attend all the inspections. You will learn a lot about your new home.
• Do not wait until the last minute to get Home Owner's Insurance. It is getting more difficult these days. It is important to shop around for quotes. There are dramatic differences in costs for similar coverage. Your agent will be able to help you.
• Make sure you and your agent check the repairs after they are complete. There are many different ways to fix things; your agent should make sure it is the RIGHT way.
• Walk through the house about one hour before closing to make sure the home is in good condition and the sellers have moved out completely. Closing constitutes acceptance in North Carolina.
• You and your agent should stand ground and not close until all issues have been resolved to your satisfaction. You are entitled to postpone closing if things are not right.
• Schedule your utilities about a week prior to closing.
• Review the HUD-1 Settlement Statement with your agent in DETAIL before closing. Preferably 24-48 hours before. Your agent will handle getting the HUD-1 from the closing attorney.
• Remember you will need a certified check in the amount listed on the settlement statement.
• Closing lasts about an hour and there will not be time to read every page. If you would like to review the closing paperwork ask your agent to request a copy in advance and go over the loan package at the same time as the HUD-1.
• Your agent should attend Closing and be available to answer any questions or to resolve any open issues during Closing.

Your relationship with your agent should not end at the closing table. Use them long after the closing as an information resource for anything relating to your home or your community.

At Buyers Advantage Group Realty, we believe in developing long term relationships with our clients and their families. There is a difference and the difference is your advantage with Buyers Advantage Group Realty.