brokerage. Real estate agents are prohibited from being paid a commission directly by the consumer. All real estate commissions are first paid to the listing agent’s broker, and then the listing agent’s broker pays the buyer’s brokerage. Buyer’s agents do not work for free. When you engage a buyer’s agent to show you property, you are implying that you will eventually write an offer through that buyer’s agent, from which the buyer’s agent will share in the commission.
BUYING STEP #2: Figure Out What You Can Afford (Account for Expenses)
You know by now that the purchase of a home is a complex process. In particular, buyers will often feel troubled by the huge expenses involved. Before setting out to buy a home, consider its affordability. You need to know if the particular home is in your budget. A home may seem affordable to you at a glance, but there are hidden expenses involved in buying. These expenses may lead you into financial problems. The actual cost of the home will always end up being more than the selling cost indicates, because there are added fees, as well. You need to make a detailed examination of the housing market to figure out your price range. You will also need to figure out any issues you might have meeting your basic needs. Do research on school districts, impending construction, crime statistics, or anything else that could increase or decrease a home’s value.
BUYING STEP #3: Make Sure You Can Get a Loan (Secure a Lender)
Buying a home requires an amount of money normally not available to a buyer in their pocket or bank account. For this
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