It is difficult to get a first time home buyers loan. Buyers find it tricky to understand the concept of home loans and property prices. Many buyers wonder why houses in the same location have such a huge variation in prices. The answer is very simple: Local real estate agents charge varying rates in commission fees, ranging from three to six percent. Sellers who have to pay hefty fees to agents then mark it up on top of the price of the property. This makes a huge difference to the overall price. If you can find an agent who charges you less fees, your savings can climb into thousands of dollars.
Buying a home is a huge responsibility involving large sums of money. It is potentially risky to let amateur estate agents handle such assignments. Additionally, most of the buyers do not necessarily have the cash to make an outright purchase. They depend on first time home buyers loans to cover the cost of buying their dream homes. Expert and informative advice is needed to help you go through the process without any hassle.
Many buyers try to get around the problem of paying hefty commissions by looking up For Sale By Owners, or FSBO, listings. This allows them to circumvent the agents and contact sellers directly. Though it is a good option, the disadvantage lies in being denied the expertise of an experienced licensed agent.
No Frills Flat Rate Concept
Welcome to the concept of no frills agent, which is a unique idea that is perfect for first time home buyers. Many leading realtors have now started offering this advantage to their clients in addition to their regular services. Consumers can enjoy several benefits of having a no frills agent assist them in the home buying process. These agents contribute a high degree of expertise and professionalism that can be of great help if buying a home for the first time. They can even help you take advantage of cheap home loans.
A no frill agent charges a flat fee of $3300 regardless of the size of the transaction. In addition, they also help in the process of negotiating with the owners, inspecting the property with their expert eyes for any defects or flaws, working out the correct value of the property, and also with first time home loans.
Do Not Fall for Big Brand Names
Buyers often fall to the high-sales pitch of big-brand realtors and end up buying homes that they do not really need while paying exorbitant rates and commissions. There are independent and experienced real estate agents who offer flat fee based services to their customers. They offer their expertise in understanding the process for obtaining first time home buyers loans.
The no frills flat fee concept is a lucrative opportunity for realtors and presents ideal circumstances for both buyers and sellers. There is a growing shift toward this type of transaction. The application and licensing process of such no frills agents are scrutinized minutely for eligibility and only those who have the ability and the experience to provide exemplary service are chosen. In addition to providing proper and correct guidance to the clients, they are also well-versed in local real estate laws. They can help clients with their applications for first time home buyers loans and other mandatory procedures.