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Buying a home is a major step in most people's lives. It is a big investment for most people and often the biggest financial decision a person will make in their lifetime. When you are ready to buy a home there are many decision to be made.

Using a Broker - Pros and Cons

One of the first decisions you will need to make is whether of not you need to use a real estate broker. Using a broker has it pros and cons. The benefits of a broker are they do a lot of the legwork for you. They will ask you what you are looking for in a house, so that they can show you the appropriate style of home that is within your price budget. They will schedule all appointments and actually take you to the homes that are being offered for sale. Once they are familiar with what you like and don't like in homes that they are showing, they will be able to narrow down the range of homes to show you, so you are not wasting time looking at homes that do not suit your style or budget. If there are certain aspects in a home that you insist upon (garage, basement, good school district) make sure these are discussed with the broker in advance. Once you decide on a home, a broker will coordinate the entire process in order to get you in your home quickly (most brokers do not earn their sales commission until your closing date).

On the downside, when using a broker, you will give up some control in the situation. A broker's sales commission is based on the price you pay for the home. Therefore they do not have your best interest at heart, no matter what they may tell you. If you are working with the broker that the seller has commissioned, they are working for the seller and will work to get the maximum price for that home. If you use a broker always remember that the broker will have to present all valid offers (bids) to the sellers of a home, although they will work to get those offers as high as possible.


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Related Articles:
Buying a Home
Visiting Homes
General-terms
Selling a Home
Choosing an Agent
Preparing your House for Sale
Accepting a Bid
Closing on your Home
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