Once the decision is made to buy a house, it is important to seek the best information available to help you avoid problems in the largest financial transaction of your life.
Any realtor who is a member of the Multiple Listing Service can be of enormous help by introducing you to houses that meet your aesthetic, geographic and price qualifications. Remember, though, that unless the realtor is a “buyer-broker”, he or she actually works for the seller and must try to get the best possible price for the house. A buyer-broker works for the buyer and can ethically recommend a lower offer or suggest contingencies that protect the purchaser.
A loan counselor or broker should also be consulted at the beginning of the process to help determine how much you can afford to borrow and, hence, how expensive a home you can afford. Your realtor or attorney should be happy to refer you to a list of qualified people from whom you may select a lender appropriate to your needs.
Once you have found a home which meets your qualifications, you are ready to make an offer. If you have worked with a realtor, either a seller’s agent or a buyer-broker, the agent will help you prepare an offer on the CAPITAL REGION MULTIPLE LISTING SERVICES (C.R.M.L.S.) Standard form. In a For Sale By Owner (F.S.B.O.) Transaction, your attorney will help you prepare the offer using either the C.R.M.L.S. or any form he or she feels is appropriate.