One of the biggest purchase decisions you can make in your life is with real estate property. When you choose to buy a home, it is such an important decision that you don't want to go through the process on your own, relying upon your own knowledge, and expertise. Instead, hire the professional services of a broker who can negotiate for you to get you the best deal possible. During a home purchase there are two types of professional brokers you can hire and benefit from, making your home-buying search and purchase experience better, less stressful, and more successful, and here is some information about each.
Real Estate Broker
A real estate broker is licensed to act as an intermediary party between you and the seller of a home, and helps you with the contracts, negotiations, and many other processes. Because there are many real estate laws, contract regulations, and rights you want to take advantage of to help benefit you best during the purchase transaction, hiring a professional real estate broker to help you is a smart option.
Whether you choose to work directly with a broker or a real estate agent, you are still working under the broker, as an agent cannot work independently without a broker to oversee their actions. A broker can help you search homes for sale to find one that fits your needs and budget, then calculate a fair asking price to buy the home from the seller.
Your broker will help you complete the required contracts to protect yourself in the transaction, and to cover any unexpected situations. For example, if the home inspection reveals that the property has serious foundation problems, the purchase contract your broker helps you complete will protect you by giving you the ability to get out of the deal or to adjust the purchase price to reflect the required repairs.
Mortgage Broker
A mortgage broker is another broker who can help you during the home purchase process, as they arrange to find you financing to buy the home. A mortgage broker works independently, contacting a variety of lending companies and programs to select a loan that is most favorable to you, and works with you through the qualification and underwriting process. This type of mortgage could be a low interest 30-year loan with a fixed rate to give you long term stability with your home payment.
As another example, your finances are tight now and you know in a few years you are going to sell the home and buy something else. Your mortgage broker can find you an adjustable rate mortgage that starts out with a low rate for several years, then it will begin to increase incrementally. If you have served in the military and quality for a VA loan through the Veterans Administration, your broker can secure this financing for you.
Share24 October 2018
Selling a home is a lot of hard work consisting of home improvements, inspections, advertising, customer service, sales, contracts, and more. Working with a real estate agent can help make the process easier and less stressful by streamlining everything that has to be done and ensuring that the legwork is complete in a timely fashion. The number of services an experienced real estate agent can offer might surprise you! Explore the pages on this blog to learn more about how a real estate agent can help you buy and sell a home or property, and how to go about finding a real estate agent to work with who can meet all of your unique needs and expectations. Thanks for stopping by! Don't forget to check back often as this blog is updated regularly.
