Buying a home is an ambitious task, and buying it on your own without a thorough knowledge of the market can easily turn your purchase into a nightmare. There are many traps on the way to homeownership, so it is always wise to involve a professional who understands the market and who knows what to do to get you the best deal. Hiring a Buyer Representative will make it easier on you and minimize the risk of making costly mistakes. Here is what you can count on with the right help on your side.
They will respect your choices and wishes
Your Buyer Representative will first ask you about your priorities and wishes, as well as your budget. They will be interested in what you have to say, what you prefer and what your no-gos are. They will also kindly indicate what is usually available in your price range and where, and what you can do to make it work with your budget. They will explain to you why some homes are priced higher than others and other details you may want to know. A good Buyer Representative will certainly focus on what you are looking for and not try to convince you to visit properties which do not match your vision, e.g., if you said you wanted a three-bedroom, they won’t take you to home showings to see a two or four-bedroom hoping you will change your mind. A Buyer Representative will do all the paperwork, calls and maybe pre-visit properties on your behalf while you can continue pursuing your everyday activities stress-free until it is time to visit a property.
They will give you valuable advice
A good Buyer Representative will let you know about the advantages and disadvantages of every community you are interested in. They usually know how the internet service is in each neighborhood, how old the homes are, the residents’ profile, how many schools there are, transit options, etc. This is valuable information, especially if you are new to an area.
Realtors have a keen eye for detail as well, and taking them to home showings is a blessing. They will immediately know what to focus on, e.g. look out for mold, make sure all appliances are working, ask the seller (or their listing agent) for warranties, the title deed and documents related to the home, ask about the condition of the home, repairs, what the price includes, etc.
They will keep you on track and won’t charge for their service
If a home is overpriced compared to similar homes in the same area, your Buyer Representative will know and probably try to lower the price, or at least, keep you from overpaying. They also know when a home is sold under market value and may encourage you to jump at the opportunity. To put it simply, they may save you a lot of money and still get you your dream home. Plus, you won’t have to pay a cent to the realtor given that their commission is already included in the sales price.
Finding a home in Toronto can be tough at times, and many Torontonians feel the need to rely on a real estate agent when it comes to such an important decision as buying a home while they are focusing on finding a lender, getting a mortgage approval or hiring a real estate lawyer.