The prospect of finally having your own home is exciting. But for a first-time homebuyer in Orlando, Florida, it is important to take note of certain ways that you can protect yourself. You might think you can easily acquire a new property by merely contacting the seller or their agent. However, this is not the case as real estate negotiations can be costly if done without proper guidance by the right real estate professional.
In order that your finances stay well within your budget and your house is really worth the money, take note of certain ways to safeguard yourself from hidden costs.
The Different Types of Agents
First, you must be aware of different types of agents and where their interests lie. Transaction brokers are more likely to remain neutral in a sale. They are only there to facilitate the transaction without any commitment to the seller or buyer. A seller’s agent, on the other hand, would obviously want the highest price for the seller. They are working for the latter’s interest.
The third type of agent aims to help the buyer but also works in a listing office. This presents a dilemma because the agent has a duty to protect the interest of both sides. Working both for the buyer and the listing office the buyer and the listing office, a conflict of interest sets in.
You might be wondering what’s the point in having an agent. What you may not realize is that purchasing a home on your own opens up a whole lot of possible problems. There are those, “hidden costs” because they aren’t immediately apparent during the transaction proceedings. This involves payments such as for repairs and closing costs which are actually charged against the buyer.
Your Best Option as a First-time Homebuyer in Orlando
Knowing that there are these kinds of surprises that you can’t back out from, it is always best to talk to a buyer’s agent who can guide you throughout the negotiations.
An exclusive buyer’s agent has only one duty and role – to protect the buyer’s interest. As a representative of the buyer, he/she knows how to negotiate and get the best price for the property.
Having a professional and exclusive buyer’s real estate agent is your best bet as a first-time homebuyer in Orlando. They are more experienced in how these sales go and what is the current going rate for these properties. A buyer’s agent also knows the pain points of a house for sale. Thus, this will safeguard your finances from any hidden charges.
Protect your dream investment by hiring the right real estate agent. You can learn more about the best kept secrets in real estate in this free webinar.