Buying a home is typically the biggest transactions a person makes in their lifetime.
So, naturally, they are nervous, and it’s up to you, as their Realtor® to guide them. But they still have some responsibilities.
President-elect Bill Festa stressed the importance of education before stepping into a property.
“Most people get cold feet because the entire process is unknown to them and they find out as they go along, causing them to put on the brakes,” said Festa. “I will meet with the prospective buyers in my office to do what I like to call a mini-homebuyer seminar prior to going anywhere.”
“We discuss agency relationships, closing costs, down payments, possible mortgage programs, pre-approvals, why you need to do inspections, the format of the Agreement of Sale, deposits, location of home, condition of home and everything else related to the purchase. Most everyone tells me they are glad they did this and they had no idea of all that was involved. Since they are now prepared for what to expect, when we find the right home they are more at ease about proceeding,” said Festa.
PAR President Bill McFalls Jr. echoed Festa’s advice, but said buyers beware, there is a thing as too much information.
“I believe one issue that buyers have today is that there are too many sites for them to look for homes and professionals to guide them,” said McFalls. “They really need to find a Realtor® who they are comfortable with and confident in to have as their guide in making a purchase of this size and magnitude. Working with the person they met online or at an open house is a first step, but they need to put a little more effort into vetting their buyer agent.”