Sound Advice for First Time Home Buyers in Santa Clarita
Today we share sound advice for first time home buyers here in Santa Clarita. Though targeted for first time buyers, this advice should apply to all homebuyers. It’s always exciting when buyers prepare to purchase their first home. It’s a busy time! Between obtaining loan approval, searching for homes, viewing homes, writing offers and thinking about moving, it can be easy to lose track of the business aspect of buying a home.
Before we go any further, this page is specifically to help buyers. We a full list of terrific home selling tips for anyone considering selling their homes.
The number one most important advice for first time home buyers is this. Never forget, buying and selling a home is similar to operating a business and of course, real estate is a big money business. The biggest mistake buyers and sellers make is allowing their emotions to get in the way of their better judgement!
Get Started on the Right Foot
One of the smartest choices any new homebuyer can make is to consult with their own realtor. Choose a full time agent with a long record of successful closings representing buyers. Many times, first time home buyers erroneously believe they have a better understanding of the home buying process than they really do. This type of thinking can cost them dearly. It’s almost like representing yourself in court. What a mess that usually turns out to be!
This next part is a bit of a pet peeve of ours, but it’s sound advice for first time home buyers. It’s usually not a good idea to arbitrarily work with the seller’s agent. While some believe they might get a better deal working directly with the homeowner’s agent, we disagree. Obviously, the listing agent was selected by the homeowner to market and sell their home. Yes, here in California all licensed real estate sales persons have a fiduciary responsibility to both parties in any real estate transaction. Still, it’s just human nature to favor the person or organization signing your checks. If that’s not enough reason for you, how about this? It’s not unusual for homeowners to hire a Realtor that is also close friend or family member. So, if you want to use the seller’s agent as your own agent be very cautious!
Professional Representation Costs the Buyer Nothing
Many young home buyers think they must pay their Realtor® for representation. This is false! All commissions are paid by the seller at the close of escrow. We think it’s very important for all buyers to have their own buyer’s agent. Your buyer’s agent is responsible for representing the your best interest in a real estate transaction.
A good agent continues looking after the interests of their clients, for life! He or she fully understands the business of real estate. It just makes good sense for any home buyer to select an agent with a proven track record. It’s important for you agent to help you find homes within your budget. When working with first time buyers we often suggest they start out by viewing Valencia homes priced under $350,000. Even if you can afford more, see what the market is like in the lower price ranges as a method of developing your price point perspective..
Choose a realtor who also understands your specific needs. Your agent will protect your interest and if you are a first time home buyer, you really do need this type of service. You can focus on selecting your new home and preparing to move, without distractions from the business of buying a home. Also, a good realtor will provide ideas to help raise money for your downpayment. Did you know it might even be possible to obtain a grant to help with your downpayment? Yes, sometimes there are private grants available for first timers but you have to know where to look!
Real Estate Home Buyer Representation for Distressed Properties
There are still a few short sale and foreclosed, distressed properties in the Santa Clarita and San Fernando Valley areas. If buying a distressed property, it’s especially important to choose a real estate agent experienced with a variety of transactions, including distressed property transactions. These type of real estate transactions are often complex and require someone with the extensive knowledge and experience to successfully close the transaction. Additionally, if buying a short sale property the buyer must be prepared for a long wait. When it comes to short sales, patience is absolutely required.
A Responsible Realtor Will Help You Make Accurate and Informed Decisions
Here at the Gregory Real Estate Group we have represented many home buyers and sellers with all their real estate needs. Matt & Meray lead our team and they would make a perfect choice for any home buyer!
We believe in doing everything possible to help our clients make informed and accurate decisions with their real estate dealings. In order to accomplish this we continue with ongoing training and certifications specifically with regard to home buying. Then we stay current with specialized training, especially for transacting those difficult short sale deals.
Matt is one of a small handful of real estate agents in the Santa Clarita Valley certified as Accredited Buyers Representatives or, ABR.