In real estate, the jargon and phrases spoken throughout the process can be confusing and overwhelming. Most commonly, new or first-time home buyers. Because of this, some say it’s a smart choice to team up with a real estate agent when you are searching for you home. Agents will negotiate and write the real estate contract on your behalf, show you prospective homes based on your ideal criteria and always make decisions with your best interest in mind. All of this will be done by the agent after the Buyer’s Agency has been signed by the buyer.
But what is it? You’ve signed a lot of paperwork already so the last thing you wanted to do is to sign more paperwork. A Buyer’s Agency is a legally bound contract that ensures an agent is 100% committed to your behalf and your best interest. It also ensures the agent that you, as a buyer, will not start working with another agent. The agent working hard searching for homes, showing you house after house, and so on, only to have another agent write an offer on a home to walk through during an open house. With a Buyer’s Agency, other agents aren’t allowed to write an offer on a home on your behalf.
It can be confusing that’s for sure but with a Buyer’s Agency with a real estate agent you trust will do not but benefit you. So, if your agent requests your signatures it might be in your best interest to sign on the dotted line.
One of the first things an agent, Buyer’s Agency agreed to or not, will request you obtain a pre-approval letter from a mortgage lender before moving forward searching for your home.
At Marketplace Home Mortgage, we hire the best of the best in the mortgage world and would be honored to assist you in buying a home. You can begin the pre-approval process by contacting our office, (920) 328-0049 or by emailing MHMGB@marketplacehome.com to get started.
Interesting in learning more about Buyer’s Agency? Realtor.com compiled an informative go-to guide for buyers, like you, should know when it comes to Buyer’s Agency. Read here: http://bit.ly/2h3UsTN