Successfully purchasing a home requires the collaboration of several professionals, including a realtor. A realtor is more than just the person who helps to guide and safeguard you on closing day. A realtor also helps buyers curtail their search endeavors and helps the buyers prepare for any potential roadblocks they could face along the way. Not only is having a realtor important, but it is also important to have a realtor as early as possible, so start early.
Every buyer gets a dose of reality when they discover that their expectations may not align with reality. For example, a buyer may have a budget of $350k and have hopes of buying a home with 5 bedrooms and 4 bathrooms. Yet, in the area they want to purchase, a home that size would cost upwards of $425k.
Speaking with a realtor early on would help the buyer discover that they may need to re-strategize and reconfigure their plans to get what they want. The last thing you want to do is to wait until you are actively ready to purchase to realize that your dream is impossible.
Competitive Market Preparation
In many areas, the market is extremely competitive, with multiple, over-asking, offers coming in almost as soon as the home is listed. To get your offer accepted, you need to ensure your offer stands out. A realtor knows exactly what can help with this goal.
Connecting with a realtor early can help you ensure you have everything you need to put in a competitive offer, such as plenty of cash for closing and pre-approval for a faster closing process. If you wait until the last minute, you may not be prepared, which could lead to a denied offer.
Loan Program Knowledge
There are all sorts of loan programs, including conventional, FHA, and VA loan options. Most of the loan details are handled by the mortgage broker, but a realtor also needs to be familiar with the guidelines of these loan programs so that they can help you negotiate and determine which properties may, or may not, qualify for your loan program.
If you are using anything other than a conventional loan, start looking for a realtor early so that you can interview the professional to ensure they are familiar with the terms of your loan program.
Ensure you are covered with a realtor from start to finish. Ensure you begin the process of finding an agent as soon as possible.