My wife and I are trying to purchase our first home this year.Do we need to get a lender first or a buyer's agent first? Should the BA come with us to see homes?Does a BA help us find appraisers and specialists who may need to look at the home?
Congratulations on purchasing your first home! If you know of a lender that you would like to use you can speak to them any time to get the loan process started (even before you have a Realtor). If you do not have a lender, I would meet with a Realtor first and see if they have any referrals. If you have a BA that Realtor should be with you at all showings and I also attend open houses with my clients. You have hired the agent to give you advise but they can only do that if they are present during showings. They can help look through the house to see if there are any issues or questions you need to ask the seller before making an offer. The BA should have referrals for you for inspectors but the appraisal is set up through the lender (unless you are paying cash, then the appraisal is optional) and we do not get to pick the appraiser, the lender will put out the order for it and one of their designated appraisers will pick it up based on their availability and familiarity with the location/property style. I hope this answers your questions but if you have any more please feel free to email me at lovewhereyoulive.morgan@gmail.com
@@LoveWhereYouLive Would you consider doing a video of the step by step process of buying a home.203k loans and any experience you have with them.And pre-foreclosures and forclosures.What they are and how to know which one is for you.Your DIY vids are great.My wife loves them.
@@TheRealistFan Yes I can definitely make some videos on the step by step process for buying a home and I can meet with one of my preferred lenders to discuss the loans! Thank you both for your support!
But why take the risk of paying a commission in certain situations? also why not be free to go to an open house instead of making another appointment with the buyer agent first?
Thank you for your comment! There are a few options in the Buyers Agency agreement where you can choose how the agent will get paid but most of the time the seller pays the commission. One option states that the seller will pay but the buyer is obligated to pay - this options means that we try to have the seller pay the commission but if they will not, then the buyer will pay. We have this option for situations like for sale by owner properties or foreclosures where the seller will not pay a commission. There is another option which states the Seller will pay but the buyer is NOT obligated to pay - for this option we try to have the seller pay the commission but if they will not the buyer is not required to pay either. There is a third option where you can pay the agent an hourly rate. The buyer is always free to go to an open house anytime but I do not see why you wouldn't want your agent there so they can give you their expertise on the property and if its a good value, anything that is concerning or make sure you (the buyer) does not give away any information to the agent holding the open house that could hurt you in negotiations.
@@LoveWhereYouLive Grateful for your video and reply..Very useful. There is a lot of value in the buyer agent but the agreement is hard to understand. So thanks for clarifying there are many options there.
@@frank4pickerson I completely agree that the contracts are confusing and it is frustrating to most buyers since the average person moves once every seven years, even if you have seen it before you probably wont remember it when you move again.
Great job on this, very informative and to the point!
Thank you Destiny! Thank you for watching!
Great video! Love the channel keep up the videos.
My wife and I are trying to purchase our first home this year.Do we need to get a lender first or a buyer's agent first? Should the BA come with us to see homes?Does a BA help us find appraisers and specialists who may need to look at the home?
Congratulations on purchasing your first home! If you know of a lender that you would like to use you can speak to them any time to get the loan process started (even before you have a Realtor). If you do not have a lender, I would meet with a Realtor first and see if they have any referrals. If you have a BA that Realtor should be with you at all showings and I also attend open houses with my clients. You have hired the agent to give you advise but they can only do that if they are present during showings. They can help look through the house to see if there are any issues or questions you need to ask the seller before making an offer. The BA should have referrals for you for inspectors but the appraisal is set up through the lender (unless you are paying cash, then the appraisal is optional) and we do not get to pick the appraiser, the lender will put out the order for it and one of their designated appraisers will pick it up based on their availability and familiarity with the location/property style. I hope this answers your questions but if you have any more please feel free to email me at lovewhereyoulive.morgan@gmail.com
@@LoveWhereYouLive Thank you soooo much.U helped us out a lot.
@@TheRealistFan I am so happy that I could help! Please reach out if you have more questions :)
@@LoveWhereYouLive Would you consider doing a video of the step by step process of buying a home.203k loans and any experience you have with them.And pre-foreclosures and forclosures.What they are and how to know which one is for you.Your DIY vids are great.My wife loves them.
@@TheRealistFan Yes I can definitely make some videos on the step by step process for buying a home and I can meet with one of my preferred lenders to discuss the loans! Thank you both for your support!
But why take the risk of paying a commission in certain situations? also why not be free to go to an open house instead of making another appointment with the buyer agent first?
Thank you for your comment! There are a few options in the Buyers Agency agreement where you can choose how the agent will get paid but most of the time the seller pays the commission. One option states that the seller will pay but the buyer is obligated to pay - this options means that we try to have the seller pay the commission but if they will not, then the buyer will pay. We have this option for situations like for sale by owner properties or foreclosures where the seller will not pay a commission.
There is another option which states the Seller will pay but the buyer is NOT obligated to pay - for this option we try to have the seller pay the commission but if they will not the buyer is not required to pay either.
There is a third option where you can pay the agent an hourly rate.
The buyer is always free to go to an open house anytime but I do not see why you wouldn't want your agent there so they can give you their expertise on the property and if its a good value, anything that is concerning or make sure you (the buyer) does not give away any information to the agent holding the open house that could hurt you in negotiations.
@@LoveWhereYouLive Grateful for your video and reply..Very useful. There is a lot of value in the buyer agent but the agreement is hard to understand. So thanks for clarifying there are many options there.
@@frank4pickerson I completely agree that the contracts are confusing and it is frustrating to most buyers since the average person moves once every seven years, even if you have seen it before you probably wont remember it when you move again.
@@LoveWhereYouLive You are so knowledgeable!! Too bad, you don't cover San Diego area.
@@frank4pickerson Thank you, it is too bad but feel free to message me if you have any additional questions!