Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
my husband and i are in the process of buying our first home but we have no idea what we are doing! if anybody could answer these questions for me it would be great........
1. Do we need an agent? Why?
2. How much below the advertising price can we offer without getting laughed at? For instance a $189,000 brand new home, is $170,000 too much to ask?
3. I keep hearing how it is a "buyer's market" right now, what does that mean for us?
4. Any tips or things to watch out for being a first time buyer?
i feel dumb asking these things but i'm clueless as to what to expect. i'd really appreciate the help! By the way we are looking in the Dover, De area.
You do need a really good agent who semi-specializes in buyers. Someone who will take the time to educate you on your local market & what works for offers.
Do not use someone who wants to "Sell" you a house. No high pressure, no rush! Listen to your gut feel if you don't get good vibes from the guy / gal
He will get his money from the listing broker so it will cost you nothing. It will be the wisest thing you can do.
Last edited by Rakin; 07-23-2008 at 03:12 PM..
Reason: Left out NOT
thank you! builders are telling us we dont need an agent and actually offering more to us for not having one.........agents are telling us we NEED them. glad to get the oppinion of someone who doesn't have their hands in the deal.
You really do an agent to look out for YOUR interests. Many times when I am doing an inspections, I see clients that are having some problems because they don't have anyone looking out for them.
Beware of people that tell you that you don't need an agent, or need an inspection (especially a builder).
By the way, a buyer's agent cost YOU nothing, it does cost the seller some in commissions though.
Do not use someone who wants to "Sell" you a house.
I had a typo & left out the NOT- don't use a high pressure person.
It is a buyers market in many areas of the US but there are areas like here in Dallas where it's still a balanced or sellers market. Forget everything you hear in the media & listen to a good local & experienced agent.
If your dealing with a builder make sure your agent is familar with them. We have several in this area that I would say "Run away & run fast". Their homes look good but built like crap and after 2-3 years you will have problems.
You need an agent to look out for you! Buyers agents are free. Let them know you are a first time buyer and DON'T be afraid to ask questions! A buyers market means that the buyer has a lot of houses on the market right now to choose from.
Find an agent who's familiar with the neighborhood(s) you're searching in -- that includes being familiar with school districts, tax structures, public transportation and anything else that's important to you. Find an agent who's familiar with homes in your price range. Meet with the agent at least once -- 2 or 3 times is better -- before you physically go out looking.
How low below asking price to make an offer usually depends on local custom. Around here, a reasonable amount would be about 5 to 7 percent. It also depends on the condition of the house.
Take someone with you besides your spouse when you look at homes, preferably someone who's gone through the home buying process themselves. They'll see things you miss. After you make an offer, hire an inspector and follow him/her around like a little puppy dog. Take notes and ask questions. Don't be afraid of sounding stupid at a time like this! If you're sure an electrical outlet is an electrical outlet, ask anyway!!
Don't be afraid to talk to the neighbors. They know more about the house and the area than anyone else.
thank you all for your quick response! we've spoken to an agent over the phone from the area that we are looking to buy. she keeps suggesting places that are above our price range but seems to think we can get them to come down on their prices. most of the houses we are looking at our new, i guess we should have an inspector anyway to look for defaults? sorry guys as i've said i am so lost!
Yes, absolutely have a full inspection even if the house is new. Do not try to save the money it will cost you for the inspection because it could cost you even more if you don't have it.
If you feel the realtor you are talking to is suggesting places that are priced too high...find one who will find you something in YOUR price range, not hers.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Find a really good buyers agent
