Who Works for the Buyer?

Before beginning the process of buying a home, it’s important to understand how Realtors work. There are two sides to every real estate transaction – the home owner who’s selling, and the home buyer. The Realtor that represents the seller is the ‘Listing Agent’. She works for the seller and does everything that she can to get the highest sales price and best terms for the seller. So, if you see a fantastic house and call the Realtor from the sign in the front yard, remember that she works for the seller, not you. In Maryland, a single Realtor can only represent the seller or the buyer – not both. If you work directly with the Listing Agent, you must decline representation. In simple terms, you must agree to ‘go it alone’.

The Advantages of Buyer Agency

With a Buyer Specialist, you have someone who works exclusively for you. Your agent is completely unbiased towards any particular property and is motivated to find a home that fits your needs while getting the very best price and terms for you. A Buyer Specialist also helps facilitate all steps in the buying process by having up-to-date knowledge of homes available on the market, contract presentation and negotiation skills, experience with home inspection steps and remedies, and knowledge of the home settlement process.  Jeannette and Bruce have extensive credentials and experience representing buyers.

Before You Preview the First Home

The right home must fit your practical day-to-day needs, meet your emotional desires and also fit within your budget. Since it’s easy to have conflicting goals, it’s critical to write down and prioritize what’s wanted and needed in your next home. What’s really most important to you? Having a 30 minute commute to work, or a newer home loaded with amenities? Having a
                           separate home-office, or a big playroom for the kids for all of their stuff?
                                             Having a very clear understanding of your must-haves,
                                             would-really-like-to-haves and nice-to-haves makes every
                                             other step in the buying process easier. If you have a
                                             spouse, this process can be even tougher if you have
                                             different “must-haves” for your new home.

                                          Now that goals are clear, it’s time to arrange financing.
                                          Beyond obtaining a loan pre-qualification, you should get full
                                          loan approval immediately. This step determines exactly what
                                          you can afford and avoids viewing homes that exceed your
                                          price range. Also, when you’re ready to make an offer to
                                          purchase a home, your offer is substantially better to the seller
                                          if you have full loan approval.

Previewing Homes

Now that your needs are clearly prioritized and your financing is in order, your Buyer Specialist will help you identify neighborhoods and homes on the market that meet your needs. You can also view homes online and receive email notifications as become available from this site. Once you’ve reviewed reports and homes on the web, you’ll schedule time to tour homes in person. Your Buyer Specialist will manage all of the logistics with the homeowners and listing agents in advance to meet your viewing schedule.

Making Offers

Your Buyer Specialist will work with you to create a sales contract when you’re ready to make an offer. In Montgomery County, a completed contract package exceeds 40 pages!  Given the state of the market and the characteristics of the desired home, your Buyer Specialist will advise on price, terms and contract negotiation strategies. Jeannette and Bruce will complete a detailed analysis of comparable home sales and current competing inventory so you are fully informed of a fair asking price.  Once an offer is made, you may respond to one or more counter offers until both parties have agreed to the price and terms. You’ll make all of the decisions. The Lemieux Team will represent you throughout the entire process.

Closing the Deal

Once you have a ratified contract, several weeks or months are typically required to finalize the purchase until you can take possession of your home. During that time, several key activities must be completed like getting full loan commitment, conducting one or more home inspections, etc. The Lemieux Team has a dedicated closing specialist and a proven service system to ensure to ensure all terms of the contract are carried through.  After that, it’s time to move in! Congratulations on your home purchase! With The Lemieux Team, you’ll be assured of a smooth process from start to finish.  Contact them to get started.