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For 1st-Time Home Buyers, A Good Realtor Is A Must

It’s surprising how many people think real estate agents’ value only applies when selling a home. With the insghts of the OVM Financial Blog, we’re continuing our series to help potential first-time home buyers lay the groundwork for a great outcome. This week we cover the necessity of having an experienced agent in your corner when it’s time to make that first purchase.

Here are the key reasons:

Realtors will help you set realistic parameters. They know what properties are worth, and how to factor in PMI, escrows and annual fees into monthly fees. As a result they have a good idea of which neighborhoods to look in to reflect your priorities and ability to pay.

Realtors are smarter than the internet. Consumers often fall into the trap of believing online estimates on sites such as Zillow. In truth, the online range of prices can vary a great deal and often don’t reflect what is happening in the local marketplace. A good realtor understands the difference.

Realtors know what to look for in a house. From reading between the lines in listings, to carefully evaluating a property in person, a trained realtor knows what questions to ask and where to look to uncover potential trouble spots.

Realtors understand purchase contracts. They are licensed and trained to understand every aspect of the many legal documents involved in a home purchase. They can explain all the requirements and disclosures to you before you sign on the dotted line.

Realtors work for you. Don’t make the mistake of thinking you can save money if only one agency is at the table. The opposite is true. Never forget that the listing agent works for the seller.  Their legal responsibility and loyalty is to the person who hired them. With the massive amount of money involved in a home purchase, you need an advocate on your side as well.

If you have questions about any aspect of the home funding or buying process, feel free to contact the Sanford office of Team Move/OVM Financial, at 919-774-0114.