Purchasing a home is a major life landmark and the biggest financial commitment that most people make. Emotions play a huge part in decision making, especially for first time San Diego home buyers. Contemplating a first home or a move to a more spacious one is exciting, but it’s also very easy for a home buyer to let that excitement override good judgment, one of the reasons home buyers call a San Diego Realtor.
What is Affordable
Many home buyers can get really excited by the idea of buying a home that they become easily confused about the true costs. Focusing on the sale price alone doesn’t consider the whole picture and the real expenses involved. Part of a realtor’s work is to assist home buyers in finding out just how much home they can financially handle, figuring in debts and down payments, taxes and interest beyond the mortgage principal and any other costs tied to owning a property. When a home buyer reaches the stage of wanting to make an offer, agents serve as master negotiators for the buyer to make sure that the offer is reasonable against the sale price. It is also the responsibility of a San Diego Realtor to be knowledgeable and up-to-date on comparable bank and mortgage rates and loan details, saving the buyer an immense amount of time finding the most suitable lender.
Why Not Do It Yourself?
The temptation to buy a home without using a real estate agent may be strong, at least until a buyer realizes how involved the home buying process can really be or even where to start. Unlike most other purchases, the buying and selling of property is heavily regulated. Complex property laws are uncommon knowledge to the average home buyer and, even the tiniest mistake in the volumes of paperwork needed, can break a home buying deal and a prospective owner’s heart. By hiring a San Diego Realtor, home buyers transfer the intricate legal aspects of the transaction to the willing shoulders of someone more experienced.
Realtors have a very big incentive to make home buyers happy. Realtors will not get paid until Close of Escrow. Although commission is paid by the seller, it’s very important that an agent, helping a buyer to purchase San Diego real estate, make the passage from initial sales agreement to closing seamless. Many legal documents accompany a settlement involving lender’s terms, title investigation and insurance, which can be a dizzying experience for anyone inexperienced with the highly detailed process.
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Realtors share exclusive San Diego real estate information with buyers through a fact-filled database known as the Multiple Listings Service (MLS). With this tool, buyers can learn average home sale prices in particular neighborhoods, available unadvertised properties and community school, tax and much more. Real estate agents make a living by knowing the right people. An agent’s daily colleagues are a circle of valuable contacts who ensure rapid and smooth home buying transactions–mortgage lenders, appraisers, advertisers, surveyors, lawyers, repair contractors, builders, title insurance companies and other real estate agents who have real estate listed in the market.
In the Numbers
Even though do-it-yourself alternatives exist, more than 80 percent of home buyers still purchase a home using the services of a realtor.