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Getting Legal with Your Realtor

Nov 30, 2007
When it comes time to purchase a home, it is easy to get swept away by the excitement. This is particularly true if this is your first time purchasing a home, which is always a thrilling moment.

While you may be anxious to close the deal and to finally move into your dream home, there are many legal issues you to contend with before you finalize your purchase. With the help of a Realtor guiding you through the process, however, you can be certain that you will be properly informed and protected when making your new home purchase.

Getting a Realtor for You

One of the first things you need to realize is that not all real estate agents are looking out for your best interest. In fact, if the agent represents the person that is selling the home, that agent is looking out for that person's best interest instead. For this reason, it is a good idea to have your own Realtor that will make sure you are completing the proper steps during your home buying experience.

Negotiating a Deal

While it is possible to enter into negotiations with the seller without the help of a Realtor, having one of these professionals on your side can make the process smoother. Remember, the Realtor has a great deal of experience when it comes to negotiations, so it is in your best interest to put these skills to use.

In addition to negotiating the price of the property, the Realtor can also negotiate factors such as:

- The type of financing terms used to purchase the home
- When you can take possession of the home
- What repairs will and will not be made to the home before closing the deal
- What furnishings or equipment will be left in the home and included in the negotiated price

After these negotiations are complete, a purchase agreement can be created and you can move on to the next step of the buying process.

Getting Inspected

Before your deal is finalized, you will also need to have the home inspected. Although the lender will require an appraisal of the home to be completed, this is not the same as an inspection. An inspection will tell you about any current problems or potential problems the property faces. If the inspection determines that there are problems with the property, your Realtor may need to return to the negotiations in order to determine who will pay for the necessary repairs.

Although your Realtor does not complete the inspection, he or she can recommend a reputable inspector that will truly look out for your best interest. In addition, the Realtor may work closely with the inspector in order to make sure all information regarding the property is accurate and complete.

Once you are satisfied with the condition of the home and the terms of your purchase agreement, you can notify your Realtor that you are ready to move forward with the purchasing process. With financing approved and in place, it won't take long before you are ready to move into your new home!
About the Author
Eric Bramlett is the broker & co-owner of One Source Realty in Austin, Texas. Eric currently manages his Austin TX Realtor website, his Lakeway real estate company's website, & his Steiner Ranch Realtor website.
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