Once you’re done qualifying for a mortgage and are preparing to start the home buying process, it’s important to know how to work with a real estate agent to make the process go as smoothly as possible.
According to the Washington Examiner, you should try to be aware of your agent’s relationship with a certain property. Some real estate agents act as both buying and selling agents and subsequently have more to gain by closing the sale of a home they are representing on both sides of the deal.
Meanwhile, if you choose to attend an open house, the source says that you’ll most likely come in contact with a selling agent. This individual represents the selling party, so anything you say to them will probably be disclosed to the seller. Only the agent you select as your buyer’s agent will give you confidentiality protection.
Additionally, make sure to thoroughly review the exclusive right-to-represent document that your sign with your buyer agent, recommends the Washington Examiner. This form will disclose the terms of your business arrangement such as commission, the length of time of the contract and any other terms and conditions you might wish to set before entering into the business partnership.
Qualifying for a home loan is a major step in your personal finances. Freedom Mortgage is here to keep you up-to-date on the latest tips and tricks of the mortgage industry whether you’re looking to improve your home value or simply make a mortgage rate comparison.
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