Expert: Jessica Bryan - 12/10/2004

Question
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Helpful tips when buying

when do I use a lawyer
how can the layman access information on the web--listings and other information
Me and my wife are looking to purchase a home(we've alread have gotton preapproved) and we know absolutly know nothing about the process can you tell us what to look out for.

Answer
Dear Ron;
Buying real estate is probably the biggest purchase in your life.  I am sure that you will agree that you should take full advantage of the information and professional services available to you.  Since in most states there are now Buyers Agents who look out for the Buyer's best interest, this is someone you should use.  In our area, a Buyer's agent does not charge the buyer for this service but recovers fees from the proceeds of the sale.  Purchasing a home is no longer a quick and easy process.  There is so much to know.  There are inspections, disclosures, fees, and procedures that are constantly changing.  A real estate agent is required to take update courses each year just to keep up with the changing market.  Just as in every profession there are "experts" and those who do not do as conscientious a job.  Researching and asking for a good recommendation is important.  Interviewing the agent and making sure that this is someone who will work hard for you and has experience is important.  Ask friends, neighbors, and coworkers who they recommend.  Believe me - you will save money by using a good professional.  I have saved my clients thousands of dollars by knowing how to negotiate, what to look for and what to ask for, and writing a contract that protects the client. An agent will research the property, the history of the property and of the neighborhood, will show sales that are comparable and assist you in other ways of saving money on your inspections, etc.  Your agent will be aware of current laws, conditions, ordinances, etc. that may affect the sale. We know the ins and outs of the business.  I often tell my clients where they can go to get the best deals on things they will need before and after they move in.  Believe me...we are a fount of information!  By helping the client save money we are often rewarded by gaining client referrals.  Word of mouth is important to all of us and we want our clients to be pleased with us.  So, you may actually be saving money to use a REALTOR.  However, if you want to try to do this on your own, may I suggest that you check out some good books from the library and read, read, read.  I, too, have written a book on Buying and selling.  It covers everything that people ask me over and over again.  You can visit my website and order it.  (www.jessicabryanrealtor.com)
You should also research homes listings in your area.  Go to www.realtor.com and/or www.domania.com to get more information.  Then, of course you will need an attorney to draft an offer to purchase and to do the closing unless you live on the west coast where people use escrow officers to do the closing.  In that case you will need an attorney and an escrow officer.  A REALTOR takes you through the process step by step but if you try to do this on your own, then remember that you will need to first write an offer, present and negotiate the offer, then perform due diligence within a set time period (meaning you will have to schedule all inspections required and not required), check all disclosures, get a loan approval and find a closing attorney.  In addition you will need to arrange for movers, coordinate dates, utilities transferred, etc.  I am of course simpifying the process.  I usually spend at least 10 to 15 hours coordinating a transaction.

I hope that this helps you.

Sincerely,
Jessica Bryan
Managing Broker
House to Home Realty Services