Buying A Home

Where you are going

Check the Internet by going to city or town and check real estate. Don’t be fooled by regional presence, franchises etc. Many times in rural, suburban, and vacation areas, the independent agents are your best bet. Identify and write down the area demographics you need, for example:

• Schools (If you have kids, read this)
• Parks
• Shopping
• Other

Buyer Agent

Identify a real estate agent who only represents you and not the listings in their office.  Hire buyer representation. To find a buyer agent or if you are purchasing a Relocation TRIP® Kit, use Home Referral Network. Select buyer agents that:

• Provide loyalty and confidentiality to you, not to personal seller listings
• You can communicate with
• Have more than three years of successful buyer agency experience
• Knows the area
• Can and will show all properties that meet your needs – (MLS-FSBOS-Private Sales-Auctions Bank owned properties)

Buyer Representation Agreement

Do not sign a Buyer Representation Agreement until you have met or engaged by phone your agent and you have counseled together and determined the agent’s suitability of personalities and professionalism. Don’t rush the selection process even if you are in a hurry.

The Home Buying Process In order to facilitate your understanding of the home buying process, a two-part illustrated chart on the Home Buying Process, Parts I and II, is presented here. These forms were obtained from Buyer’s Resource, Inc. which derived original information from Iva Liebert and Leo Berard, both of whom practice Buyer Agency on Cape Cod.

Part One of the Home Buying Process outlines the processes that buyer agents who represent buyers only in a transaction undertake. This is not to say that other buyer specialists whose firms list properties are not as responsible or dedicated to their buyers. I am certain they can provide some modified and fully disclosed series of documents calling for buyer agency and client representation.

Part Two of the Home Buying Process deals with the period of time and contract contingencies following acceptance of the contract and closing or settlement. It is during this period that both buying and selling real estate brokers have a fiduciary responsibility to get the property under contract to closing subject to the terms and conditions of the real estate purchase and sale agreement.

Financial Knowledge

Know your financial situation well (see below books). Agree to be lender pre-qualified.

Reference Material

• Everyone’s Money Book
  • by Jordan Elliot Goodman
  • 970 pages.  Order direct 888-201-6300.
  • May 2001, 3rd Edition
  • More info www.moneyanswers.com
  • Published by Dearborn Financial Publishing
• Not One Dollar More! How to Save $3,000 to $30,000 Buying Your Next Home
  • by Joseph Eamon Cummins
  • Order at www.wiley.com
  • 286 pages.  2nd Edition
  • Published by John Wiley & Sons, Inc.
• Your New House
  • by Denise and Alan Fields
  • 292 pages. 2nd Edition
  • Order direct 800 888-0385
  • More info www.windsorpeak.com
  • Published by Windsor Peak Press
• For Sale By Owner Homes: A Manual on How to FSBO
  • by G. Jon Squires
  • 302 pages. Spiral manual
  • Order direct 800 500-9086
  • More info www.nebbadoon.com
  • Published by Nebbadoon Press