Buying a condo

[IHateMyJob2004]

Originally posted by: Budmantom

Originally posted by: IHateMyJob2004

Originally posted by: AgentEL
I'm in the market for a condo, but I'm wondering whether I need/should have a buyer's agent. For anyone that has bought property before: Did you get a buyer's agent? If so, was he/she helpful?

btw, this is probably the first in a series of newb real estate questions, so bare with me.

It doesn't matter who you use. In then end, they want you to buy a home. Agents are esentially useless. Buyer/seller agent is of no matter.

An agent can tell you what other condo are going for in that area and they can tell you how much that condo was purchased for and when it was purchased, they can also help you find a good lending institution. Your Realtor can also tell you how much other units are renting for.

Having a good Realtor with your best interest in mind is a lot better than having a 1st time home buyer trying to figure it out on his own.


Tom

Sure, agents will give you recent home sales. You still have to decide what to offer though.

As for the pointing out of a lender. The agencies get paid for the referral by the loan officer's company. In my esperience, an lender will do. It's such a price competitive business that it really doesn't matter who you use.

You are right, you need an egent. 1st time home buyers should learn about hte process though. Relying on someone else is suicide. Know thyself It took me a LONG TIME to understand the process. It's not something an agent can teach you. They can poin things out alogn the way but they will not be able to tell you everytihng.

 

[Budmantom]

Originally posted by: IHateMyJob2004

Originally posted by: Budmantom

Originally posted by: IHateMyJob2004

Originally posted by: AgentEL
I'm in the market for a condo, but I'm wondering whether I need/should have a buyer's agent. For anyone that has bought property before: Did you get a buyer's agent? If so, was he/she helpful?

btw, this is probably the first in a series of newb real estate questions, so bare with me.

It doesn't matter who you use. In then end, they want you to buy a home. Agents are esentially useless. Buyer/seller agent is of no matter.

An agent can tell you what other condo are going for in that area and they can tell you how much that condo was purchased for and when it was purchased, they can also help you find a good lending institution. Your Realtor can also tell you how much other units are renting for.

Having a good Realtor with your best interest in mind is a lot better than having a 1st time home buyer trying to figure it out on his own.


Tom

Sure, agents will give you recent home sales. You still have to decide what to offer though.

As for the pointing out of a lender. The agencies get paid for the referral by the loan officer's company. In my esperience, an lender will do. It's such a price competitive business that it really doesn't matter who you use.

You are right, you need an egent. 1st time home buyers should learn about hte process though. Relying on someone else is suicide. Know thyself It took me a LONG TIME to understand the process. It's not something an agent can teach you. They can poin things out alogn the way but they will not be able to tell you everytihng.

It's not only recent home sales, if a unit has sold 4 times in the last 5 years I want to know, I also want to know how much that unit sold for the last time.

Any referral fee that an agent gets has to be disclosed so most agents refer lenders that are easy to work with and are local but it's done for your convenience not for a fee.

No agent can tell you everything but a good agent will be a lot more helpful than your mom, dad or any coworkers. Having a good agent and doing your homework is the way to getting what you want at the right price.


Tom

 

[dquan97]

I used a realtor to find a condo for my current house. I simply gave him an area where to look and he gave me several listings of houses/condos in my price range. I went with him to visit several of these and made an offer within a couple of weeks (hot CA market)