Ken's Naperville Real Estate Blog : FIRST TIME HOME BUYER? FOUR PROFESSIONALS TO HELP THROUGH THE PROCESS.

FIRST TIME HOME BUYER? FOUR PROFESSIONALS TO HELP THROUGH THE PROCESS.

First time home buyers are a growing portion of my business. 

As that number grows, I am always learning.

Radon, mold, closing, attorney, inspection, mortgage, down payment, property tax...These words can scare first time home buyers. 

Buyers should not be scared.  Buying a home should be great experience.  Not terrifying.  

 

Four professionals will usually be needed during the home buying process:

1.  The Realtor

The Realtor will fill many roles during the home buying process. 
They will coordinate the transaction.  They can also narrow down home choices, educate on neighborhoods, assist with negotiations, and even provide a shoulder to cry on. 
A Realtor can show any home listed on their local Multiple Listing System (MLS). 
The Realtor should be patient.  A home is a big purchase.  An agent should understand that. 
A good agent will help in many ways.  Find one you trust.  

2.  The Mortgage Broker

The mortgage broker is the contact between the home buyer and the finance companies.  They can educate about interest rates and loan choices.  They will also help determine how much home a buyer can afford.  They should be involved early in the search process.  

3.  The Real Estate Attorney

The attorney will look over the contract and schedule the closing.  They will review the inspection report.  They will also protect the client's interests should any unexpected legal issues occur.   

4.  The Home Inspector

The home inspector will review the home from top to bottom.  They will point out any structural issues.
A good one will differentiate big problems from smaller issues.  They will write up a detailed inspection report which will be reviewed with the attorney.

These are exciting times for first time home buyers.  Get started early.  The process can take anywhere from 30 to 180 days.  Sometimes longer. 

Home prices are lower than they have been in years.  Neighborhoods that were out of the budget are now affordable.

Considering a first home?  Try to relax and enjoy the process.

Use professionals to get the job done.

Buying a home should be a great experience.

Ken

Start you home search on my website, www.KensFeaturedHomes.com. 

Comment balloon 9 commentsKen Tracy • November 14 2008 04:04PM

Comments

Nice Blog Ken - I have alot of first time home buyers too.  With the new tax credit they are eager to find something before next April.  The tax credit is a good tool to get them to buy now.

 

Laurie Bailey-Gates

Posted by Laurie C. Bailey-Gates, ABR, SFR (Robert Paul Properties) about 9 years ago

Hi Ken, I've meandered over from your comment on the art of making you group...  wanted to see your template.  It is very nice.  Oh and great post too BTW - 1st time home buyers are such a very special group.  Sounds like they are in very good hands with you!!

Your Raleigh Realtors

Posted by Lee & Pamela St. Peter, Making Connections to Success in Real Estate (Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522) about 9 years ago

Hi Laurie and Lee & Pam.  Thanks for reading.

I have been fortunate to get a spike in activity lately.

It is coming at the right time.

Ken

Posted by Ken Tracy, Helping clients buy and sell since 2005 (Keller Williams Realty Infinity) about 9 years ago

Hi Ken,

Informative post. WE don't have many buyers that qualify as first timers here in town. However, every once in a while one comes into town. Thanks for the post.

Posted by Harold "Hal" Place (A1 Connection Realty, Inc.) about 9 years ago

Hi Hal.  My wife liked the post too.:)

I was surprised how some didn't know the basics.  Thought I would explain some.

Thanks for reading,

Ken

Posted by Ken Tracy, Helping clients buy and sell since 2005 (Keller Williams Realty Infinity) about 9 years ago

I really enjoy your posts!  I really love sitting down with first time buyers.  The teacher and mentor in me comes out and it is very satisfying to take the time,and it takes time to educate them.

Peace

Posted by David Timm, CRS, EcoBroker, GRI, ABR (Coldwell Banker Residential Brokerage) almost 9 years ago

Hi David.  I am glad you enjoy them. 

Thanks for reading.

Ken

Posted by Ken Tracy, Helping clients buy and sell since 2005 (Keller Williams Realty Infinity) almost 9 years ago

Any tips on prospecting for first time home buyers specifically?  What works for you?

Posted by Tammy almost 9 years ago

Hi Tammy.  I don't target when I prospect.  I guess I don't even prospect.

I market.  The more I market, the more business I get.

Thanks for reading,

Ken

Posted by Ken Tracy, Helping clients buy and sell since 2005 (Keller Williams Realty Infinity) almost 9 years ago

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