Home-Buying Rules You Need to Know When You’re Buying a Home for Sale in Scottsdale

When you’re buying a home for sale in Scottsdale, check out these “rules” that will make the entire process easier on you and everyone else involved.

 

Buying a home is an exciting step toward the next chapter in your life – so make sure you’re following these rules:

 

 

When you find a home you love online (that’s where most people start their home searches), you can call the listing agent – but you’re better off getting your own agent to represent you. It’s totally fine if the agent that represents you works in the same office as the listing agent, but for your own sake, it’s best for you to hire an agent who represents you and only you (not the seller, too).

Here’s how it works. The listing agent – the real estate agent whose name appears under the house you love – is working for the seller. His or her primary duty is to the seller, which means that the agent has to serve the seller’s best interests. You’re the buyer, though, and that agent’s duty will always be to the seller first.

You need your own agent who represents you (and only you) in the transaction. Your own agent will look out for your best interests while the seller’s agent will look out for the seller’s best interests.

 

When you make an offer on a home, there’s a decent chance that the seller will accept it. When a seller accepts an offer, he or she will take the home off the market; that means other buyers won’t have a shot at buying it because it’s reserved for you.

Don’t make an offer without having a preapproval letter from your lender. That’s because the seller is taking the house off the market because he or she believes you will buy it – but what if funding never materializes because you can’t get loan approval? You’ll cause the seller to take the house off the market and potentially miss out on a sale from another buyer who has the funding to buy it.

That’s one reason that sellers reject offers, too, so you could be wasting your time. The seller wants to sell, but if you’re not preapproved, there’s no guarantee that you’ll even be able to get the financing to buy the home.

 

When you make an appointment to see a home, show up – and don’t be late if you can help it. The seller is leaving the house so you can tour it freely, which causes a pretty big inconvenience. It’s also rough on your own agent, who cleared the time slot and will be at the home with you.