5 Secrets Your Realtor Would Love You To Know

Thinking of buying a home? It’s a big step, and like any big step, it needs to be thought through. But where to start? We’ve made it easier for you by reading several realtor interviews to reveal what your realtor really wishes you knew about home-buying.

Selecting Your Real Estate Agent

Right off the bat, know this: the agent showing you the house represents the seller, not you, the buyer—unless you have a contract with a buyer’s agent.

Interview several agents before selecting one to work with as a buyer.

• Check out the agent's website.
• An AOL article on selecting your agent suggests asking for the number of closings they’ve had in the last year on the buyer’s side.
• Most importantly, ask about the agent's closing price-to-list: how much the house actually sold for vs. its listing price. This information will tell you whether the agent just wants to sell you a house for the commission, or if she will be working hard to get you the house of your dreams at the lowest price possible.

Vetting The Neighborhood

So you found a house you like. Wonderful! Just don’t feel pressured into putting in an offer without checking out the neighbors and the neighborhood. Remember, you plan to be in that house for years.

We have suggestions for vetting the neighborhood yourself first:

• Check the recent newspapers for reports on area crimes.
• Get your own sense of the area by walking the neighborhood at different times of day. Are the streets well-lit after dark?
• Are there very loud noises, such as those from barking dogs, loud music, fast cars, farm machinery, or even parties?
• Where are the closest schools?
• How do the neighborhood yards look?

Google Test It

Do the Google Test: ask your agent, “What can you tell me that I can't find out through Google about this house or about this neighborhood and town?"

Why do this? Because high-quality professionals should be able to offer you insider information about the house and the area to protect your interests—information that you couldn’t find out by searching the Internet.

Remember that the neighborhood affects the property value: it affects the home’s price and the offer you make—if you still want that house after finding out all you could.

Talk About Money

The first law of homebuying is that everything is negotiable, from any defects that the home inspection turns up, to appliances, noisy neighbors, electrical outlets and wiring, carpeting—everything.

Lenders typically will only lend up to the appraisal amount, so ask your agent and your lender for any experience with appraisals on the house that you are interested in buying.

Be sure to add up all the closing fees. Our blog, Small Change, helps you figure out what those closing costs are likely to be.

Consider what your total payment will be, including taxes, insurance, and upkeep.

• It's wise to make sure that you aren’t using all you savings for the downpayment. No house is worth living on the edge with no safety net.

ABC News shares this important tip for new homebuyers: wait until after the closing before buying big-ticket items, whether they are appliances for the house, a new car, or anything else. Why? Your lender may recheck your credit score just before closing. If your credit score has dropped, the sale could fall through.

Here’s our special tip: because Kennett National Bank is your community lender, we share your interests in keeping the local communities financially strong. We are on your side.

So feel free to contact us to ask our knowledgeable staff any questions or concerns you have about home buying. We’d be happy to help.