Step 1 First Time Home Buyer
This is an exciting time, however you need to slow down and make sure you gather all the pertinent information on the home buying process that you can. You should also make sure to read all the sections of our Buyer’s Advantage website, as there is quite a bit of information to help you understand how the real estate industry works and how to best position yourself to make this large investment.
5 Facts You Need To Know Now
1. The agents you meet at open houses and new construction sites represent the interests of the sellers of those properties- NOT YOU!
2. There is no set method for pricing real estate. Just because there is a price on the home you like doesn’t mean that the property is actually worth that price. You should have a buyer agent to help you properly evaluate property that is of interest to you.
3. Picking a lender for your mortgage should NOT be chosen simply by an advertised interest rate. Many fees accompany a home loan, some are legitimate and some are “junk”. Analyzing different loans should be done by using GFE’s (Good Faith Estimates). Lenders are required by law to disclose your loan’s APR and the fees associated with that rate.
4. In many areas of Delaware, you will be exempt from a portion of the real estate transfer tax up to .75% of your home’s purchase price.
5. A good buyer’s agent/representative can save you thousands of dollars when you buy a home. Above are only 4 examples worth a minimum of $4,500 in savings. Not to mention what more you could save by having an experienced negotiator helping you from the very beginning.
Luke Real Estate does not charge you a commission or fee to represent you. All of our commissions/fees are paid by the seller.
There is literally too much information you would need to know as a regular consumer to represent yourself better than if you were working with an experienced real estate professional. We have seen thousands of homes, represented hundreds of buyers, and maintain a regular schedule of continuing education so that we can better represent you.