When you decide to buy a home, you want the right professional services to aid you through the process. This includes finding a qualified and trained real estate agent and a mortgage broker for the home search and securing your financing. Here is some insight to help you select the right person for each job:
Selecting a Real Estate Agent
The real estate agent you choose to work with on your home search should be someone you get along with, as well as someone you like. This makes the home-buying process more enjoyable and effective. Interview a few different agents before you decide on one to sign an agency agreement with.
Make sure your realtor has experience in the buying process, knows the area well, and is experienced in negotiating with sellers. This will help you be able to secure the most optimal terms and the purchase price in the home you want.
It can be helpful to also choose a real estate agent who knows how to assist you in buying homes for sale in special circumstances, such as short-sales and foreclosures. This knowledge can open up opportunities for you to get a home at a discounted price.
Choosing a Mortgage Broker
You will also need financing to pay for the home you choose to buy, so you will need to find a mortgage broker to help you with this. Asking your friends and family for recommendations for a good mortgage broker is a smart way to find one who will work hard to get you what you need.
Be sure to select a mortgage broker who takes the time out for you in their schedule. The one you work with should, for example, return your calls and gives you the time you need, and who also puts in the time to secure you a good interest rate based on your credit and income. The mortgage broker you choose should make you feel comfortable and is someone you can have a good rapport with.
It can be helpful to work with a mortgage broker who is not working for a specific bank and will have access to a variety of different lending programs and financial institutions. Working with a mortgage broker at your bank, for example, will only have access to that bank's lending programs and may not be able to find a loan to best fit your needs. You may have this loan for many years, and the rate you get can cost you or save you money.