Janette Dickinson

Things To Consider When Buying A Home

A. Region (City/Town)

1. Commuting distance/ time to work
2. Schools – location, scores
3. Shopping convenience for food, clothing, hardware, etc.
4. Houses of Worship, hospitals, parks&recreation facilities

A. How much house can you afford?
B. How much of your disposable income do you want to commit to your housing?

1. Lifestyle vs. the Monthly Mortgage Payment

A. Buyer’s agent vs. Seller’s Agent
B. All agents represent the seller unless you establish a buyer’s agency with your agent
C. You need a real estate professional “on your side”

1. In a typical real estate transaction the agent is a sub-agent of the Listing broker and is a fiduciary of the seller (one who stands in a special relation of trust, confidence or responsibility in his obligation to another, in this case the seller) Anything you tell that agent must be reported to the seller.

D. Buyer’s Agency

1. When you contract with an agent to represent your interests in the purchase of a home that agent creates a “fiduciary” relationship with you and not the seller. This means that the “Buyer’s Agent” represents you and only you.

E. When you do not have a buyer’s agent it is like an individual representing himself in court rather than having a practiced attorney. In addition you may still be paying both sides of the commission.

1. You can do it but what are the likely results?