The Buying Process, part 2

Picking up from the first part which discussed financing, the next steps are about using the right Realtor for looking at homes.



4. Choose your Realtor, if you haven't already.
Yes, this was in step 2, and reality is many buyers don't ask a Realtor about financing, because they're not wanting to commit yet. Since the home you purchase is likely to be where you'll be for the next 10 or so years, your choice of Realtor matters. The Home Buyer Bill of Rights sets forth reasonable expectations for you. You deserve a person who listens and will take the time to understand what you want and need. Ask if your Realtor has earned the Acredited Buyer Representative (ABR) designation. To become an ABR, an agent must study buyer representation and services. They demonstrate success working with a number of buyers. And they continue learning and improving their ability to serve you, their home buying client. You hear our real estate market and loan market are in flux. Choose a professional who can guide you well despite the changing markets! Ask your ABR about your FREE Homebuyers Tool Kit, too!

5. Meet with your Realtor to discuss what you want and create a wish list.
Your Realtor should be able to find out what style of home and which locations best fit your needs from an in-depth interview. Sometimes you know exactly what you want and that it's available! And sometimes, if this is your first home or if you are undecided about what you want, a quick tour of five or six different types of homes can help you clarify your thoughts. Some agents say that buyers are liars. Not so in my experience! I've found most buyers are learners-of what they really want, consciously and unconsciously, in a home. This learning is a process for most buyers, so what you want will become clearer as you work through the process of finding your right home in this market.

6. Review the homes your Realtor previews and suggests for you to view.
Based on your interview, your Realtor can look at all the homes in the marketplace and select the homes for you to consider. Our great computer search and on-line tools include arial views and neighborhood information. Expect to get updates as new homes come on the market that fit your general parameters. You can screen what you're most interested in seeing, too. With so much inventory available, it is important to focus. The homes your agent suggests will fit your parameters of quality and be priced at fair market value or lower. A good Realtor will not show you overpriced homes. A good Realtor will also make suggestions of properties that may not fit your initial search, but may fit your desired outcomes.

7. View the best homes with your Realtor.
Set aside three to five hours for a tour of the best homes available. Consider different neighborhoods that meet your wish list. You should feel comfortable selecting one of the top homes you tour to buy and should be prepared to do so. Often buyers find their best home early in their search. In some price ranges and neighborhoods the market has shifted from a buyer's market to a seller's market. Discuss the market where you're looking with your agent, so you don't lose out on getting the right bargain nor move too quickly when deciding! Homes for sale today include traditional sellers, banks, short sales, foreclosed properties, auctions, for sale by owner sellers, lease-purchases, and exchanges. Your agent can help you determine what homes best fit your needs and how the purchase process works for each kind.



Coming next week, placing and offer and negotiating. Click here for Part 3, and Part 4.