When you initially hire a home buying agent to help you purchase a house, he or she will not instantly schedule home viewings for you. Instead, the agent will complete a few preliminary steps before scheduling viewings. If you are buying your first house, you might not know about these steps, but it is vital to understand them. Here are four things you should expect your home buying agent to do when you hire him or her for help to buy a home.
1. Ask to See Your Preapproval Letter
Home sellers do not want to waste their time with showings, so they expect that the agents will bring qualified buyers to them. You are considered a qualified buyer if you have a preapproval from a bank. A preapproval letter proves that you qualify for a loan right now, which makes you a qualified buyer. Your agent will ask to see this letter to make sure that you meet this requirement. If you have not talked to a lender about getting preapproved, you should do this now. You probably cannot start viewing homes without completing this vital step.
2. Discuss Your Budget
Next, the agent will discuss your budget with you. The preapproval letter may tell the agent the maximum amount you can borrow, but this might not be the same amount as your budget. If you do not want to borrow as much as the lender says you can, you may have a lower budget in mind. It would help if you told your agent how much you want to spend, as this amount helps the agent find you homes to view.
3. Talk About Your Goals
The agent will also talk to you about your goals. How soon do you want to buy a house? Are you in a rush? What features are important to you in the house you choose? Agents need to know these details to find the right homes for you to see.
4. Start Researching Homes for You
After completing the first three steps, your agent will begin working for you. The agent will research homes for sale in your area and will compile a list of homes you might like.
You should expect your home buying agent to complete these steps before you start seeing houses for sale. If you have questions or are in a hurry to buy a home, contact an agent at a real estate agency like Silverton Realty, Inc. today to get started.