5 Questions To Ask Your Real Estate Agent When Buying A Home
Buying a home is a big undertaking, and it's important to go into the process with your eyes open. It can be one of the most rewarding processes you will ever undertake, but it can also become a huge burden if not approached strategically. Arrowhead Title, Inc. is here to help you ensure that you are fully prepared to enter the housing market before taking the plunge. Here is a quick list of important questions to ask your real estate agent as you think about buying a home.
Questions To Ask Your Real Estate Agent
1. Do You Have Experience With This Type Of Property?
Every home is different, and every property comes with a unique set of challenges. Ask your agent if he has experience buying/selling the type of property you're interested in, such as a foreclosure or a short sale. If your agent has worked with your chosen type of property before, you will be much more likely to avoid any challenges that could arise.
2. Are You The Listing Agent For This Property?
There are typically two agents involved in every real estate transaction: the buyer's agent and the seller's agent. Each is supposed to watch out for their client's best interests. Sometimes, however, the roles overlap; the seller's agent could also represent the buyers. This is good for the agent, because he doesn't have to split the commission with another REALTOR®. However, it may not be the best for you as the buyer, because the agent may try to keep the purchase price higher. It is important to talk about this openly with your agent to make sure that everyone is on the same page.
3. Where Do You See The Market Heading?
Even if you plan to live in your new home for the rest of your life, it is crucial that you consider your chosen home's resale value before you buy. Unexpected circumstances may arise that urge you to sell, for example - or, at the very least, your children may choose to sell the home after they inherit it from you. Either way, you will want to be reasonably confident that you will come out on top. Ask your agent where he believes the local market is heading and whether or not he thinks your chosen home is a good investment. Since he should have experience with the local market, he should be able to help you determine which homes will retain (or hopefully increase) their resale value.
4. What Will The Utilities Be?
After you close on the house, the mortgage payment will only be part of your financial picture. In addition to your mortgage payment, you will have to cover the various utilities required to run a household: water, sewer, electricity, gas, internet, cable, trash/recycling, etc. The cost of each of these utilities will vary depending on the size of your home and where it's located. Ask your agent to get in touch with the seller's agent to find out what the sellers are currently paying for their utilities.
5. What Other Questions Do I Need To Ask?
Ideally, you should be working with an experienced real estate agent who has been involved in your local market for years and has a solid working knowledge of how the process works. As a newcomer to the market, it can be hard to know exactly what types of challenges may arise and what questions need to be asked in order to make an educated decision. Your agent can help by identifying the important questions to ask.
Remember Arrowhead Title When Buying A Home
When you find the home of your dreams and are ready to take the plunge, we hope you'll remember Arrowhead Title, Inc. as your trusted title insurance company at the Lake of the Ozarks. We can conduct the title search, issue the title policies, and facilitate the closing to ensure that everything goes as smooth as possible. To learn more about our title services in Camden County MO, visit our website at www.ArrowheadTitle.com.
The Lake of the Ozarks' Most Trusted Title Company
Where Accuracy Matters!
Questions To Ask Your Real Estate Agent
1. Do You Have Experience With This Type Of Property?
Every home is different, and every property comes with a unique set of challenges. Ask your agent if he has experience buying/selling the type of property you're interested in, such as a foreclosure or a short sale. If your agent has worked with your chosen type of property before, you will be much more likely to avoid any challenges that could arise.
2. Are You The Listing Agent For This Property?
There are typically two agents involved in every real estate transaction: the buyer's agent and the seller's agent. Each is supposed to watch out for their client's best interests. Sometimes, however, the roles overlap; the seller's agent could also represent the buyers. This is good for the agent, because he doesn't have to split the commission with another REALTOR®. However, it may not be the best for you as the buyer, because the agent may try to keep the purchase price higher. It is important to talk about this openly with your agent to make sure that everyone is on the same page.
Even if you plan to live in your new home for the rest of your life, it is crucial that you consider your chosen home's resale value before you buy. Unexpected circumstances may arise that urge you to sell, for example - or, at the very least, your children may choose to sell the home after they inherit it from you. Either way, you will want to be reasonably confident that you will come out on top. Ask your agent where he believes the local market is heading and whether or not he thinks your chosen home is a good investment. Since he should have experience with the local market, he should be able to help you determine which homes will retain (or hopefully increase) their resale value.
4. What Will The Utilities Be?
After you close on the house, the mortgage payment will only be part of your financial picture. In addition to your mortgage payment, you will have to cover the various utilities required to run a household: water, sewer, electricity, gas, internet, cable, trash/recycling, etc. The cost of each of these utilities will vary depending on the size of your home and where it's located. Ask your agent to get in touch with the seller's agent to find out what the sellers are currently paying for their utilities.
5. What Other Questions Do I Need To Ask?
Ideally, you should be working with an experienced real estate agent who has been involved in your local market for years and has a solid working knowledge of how the process works. As a newcomer to the market, it can be hard to know exactly what types of challenges may arise and what questions need to be asked in order to make an educated decision. Your agent can help by identifying the important questions to ask.
Remember Arrowhead Title When Buying A Home
When you find the home of your dreams and are ready to take the plunge, we hope you'll remember Arrowhead Title, Inc. as your trusted title insurance company at the Lake of the Ozarks. We can conduct the title search, issue the title policies, and facilitate the closing to ensure that everything goes as smooth as possible. To learn more about our title services in Camden County MO, visit our website at www.ArrowheadTitle.com.
The Lake of the Ozarks' Most Trusted Title Company
Where Accuracy Matters!
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