My daughter and her husband are planning on buying a home this coming year, so I asked for input on what would be a good topic that would benefit her now. I was looking for inspiration on what I could share to help other first-time buyers getting ready to take the leap.
When she answered, she simply said, “I don’t know what I need to know to answer your question.”
This simple answer made me think, buyers are charmed by the glamour of buying on HGTV and in videos. But are you really prepared to ask the right questions when you find yourself in a position to buy?
So here is my advice for first-time buyers on the right questions to ask when you get started with this process.
1. Ask your agent how much experience they have helping first-time home buyers. Why does this matter? The answer is simple: you don’t know what you need to ask.
A seasoned realtor knows that you are not familiar with the process and should be very proactive with you. On your first purchase, I want you to have an experience that ends with you learning the home-buying process, feeling overly supported, and having confidence that someone was genuinely caring for all the details. Details that you didn’t know were necessary!
2. Ask your realtor to explain what unexpected expenses you should be ready for and when you have to pay them. If your home purchase is going to fall apart for any reason, it’s most commonly related to money and the mortgage loan process. Most people are funny about disclosing things related to their money, but this is not the time to be mysterious!
Start adopting the idea to never assume anything! Your experienced realtor needs to know everything and should be asking you a ton of questions. An unexperienced agent will not be familiar with the loan process and all the regulations related to your situation.
Accept the fact that where your money comes from is a very precarious situation with the mortgage company. While we are talking money, you should not buy anything big, loan out money, sell anything without a proper receipt showing details on what you sold, open any new credit accounts, quit your job and the list goes on. Just ask your realtor or lender if you have any concerns before you do anything!
The bottom line is, there are a myriad of questions that I would want you to ask, but I think it will be better to leave you with this piece of advice: use a realtor that you know is experienced and you can trust. If you focus on this, you will be set up for success and can set the fear of the unknown aside. There should be no charge to have a local realtor assist you, so you don’t have to do this alone!
Every realtor is different and there are so many good ones to choose from! You should not feel obligated to use one that is not making your personal situation or needs a priority. Asking questions on how they can earn your business will be the wisest question you can ask. This will ensure you get all your questions handled – even the ones you didn’t know you had!
