All of us have been or will be first-time home buyers. I've written this list based on my own experience, both as a buyer and as a real estate professional . If you're an experienced buyer, share this information with your children or younger siblings.
· Real estate agents are not salaried employees. They are paid a commission only when a home actually changes ownership.
· Nearly every real estate office in Kitsap County requires its agents to belong to a multiple listing service. This means that any licensed agent can help you buy any listed home, no matter who lists it.
· Shopping with more than one agent is self-defeating. You will be getting letters and phone calls from all agents attempting to show you the same homes. You will have no single point of contact.
· Your buyer’s agent should be willing to pledge a diligent and effective search to find the right home for you.
· Once you find the right home, you will need to write a Purchase and Sale Agreement (PSA), which is the formal way to make an offer to the owner of the home. Along with the PSA, you will need to provide a check for earnest money, showing the seller that you are in fact serious in your offer to purchase the property.
· Your agent should then present your offer to the seller and his or her agent. He should tell them about you, your family, your employment history, your ability to borrow, etc. This is your opportunity to convince the seller to accept your offer.
· It will help you a great deal if you have talked to a lender and received a pre-approval letter by the time your agent presents your offer. This will help you satisfy the seller that you are able to borrow enough money to close the transaction.
· Your agent should be able to recommend lenders he or she often works with. These are brokers who handle loans for many different companies. This helps you because they can fit a particular program to your needs.
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