Tips on how to be a Smart Buyer

• Consider using your own inspector

Yes, real estate agents are going to have those they refer or recommend and in most cases this is just fine. But relationships between inspectors and agents goes deep and in some instances the deal won't go through unless the inspector has a good report. You will want to make sure you protect yourself by getting an inspector with an unbiased opinion and will be honest with you about any repairs the home might need. (visit our Huntsville AL real estate affiliate for more on inspections)

• Try to avoid Dual Agents

A dual agent is when the listing agent of a home is also the buyers agent. The same agent is collecting the buying and selling commission on a home. While this is great for the agent, their original loyalty lies with the seller and not the buyer. To avoid this, make sure you enlist the help of a buyers agent that will solely be on the lookout for your interest only. They will still receive half the commission from whatever home you choose. (Check out our Pullman WA real estate partner for more on agents)

•  Be aware of agent incentives when buying a home

In this market, sellers are doing all they can to shove their home out in front of all the others and present an enticing offer to the buyers agent. While this is fine and legal, it is also not so good for the agent to keep this to themselves. You cannot legally be steered to one home verses another for any reason. The seller incentive home might be at the top of the list but you should always be shown all homes that might fit your criteria.

• Know you might deserve a better interest rate from lenders

If a lender has researched all options for you and determined the best rate they can get you, they don't have to mention you may deserve a better loan somewhere else. The best thing you can do is shop around. Don't be nervous about the amount of times your credit is being checked, this is an important investment and you don't want to loose out on thousands of dollars because you were afraid to look or make someone feel bad. (Learn more about finances with our ranches for sale in Oregon professionals.)

• Make sure the loan you sign up for is the one you get.

Be wary of any lender that changes the deal at the last minute. You can walk away at any time if there is something you don't understand. A good buyers agent will be able to refund your earnest money if the financing doesn't work as most purchase and sale agreements include a finance contingency. Be sure you know what you are selling and if the lender won't be honest with you on the details, you probably don't want to sign on the dotted line.

For more information on how to be a savvy buyer and to find your Santa Fe real estate, home or property, send us an email. We would be happy to match your needs with the right home!