How a Real Estate Agent Can Help First Time Home Buyers

As a first time home buyer, a real estate agent can be a big help. The process of buying a home for the first time in your life can be a little confusing. With a real estate agent, you will have someone to guide you through the issues that you might run into along the way. Here are a few ways that a real estate agent can help you as a first time home buyer. 

Find Your House

The great thing about using a buyer's agent on your first home purchase is the vast experience that they bring to the table. When you are buying a house for the first time, you really may not have an idea what you want. With a real estate agent, you can tell them the features that you want and they can tell you how much you can expect to pay for it. With this kind of expertise, you can sift through the things that are truly important from the ones that aren't. 

Once you determine what features you are looking for in a house, the real estate agent can then help you focus only on homes with those features. They will come up with a list of houses that are in your budget and contain the features that you need. They will then take you around to those houses and show them to you in person. This kind of help can save you a lot of time and effort. 

Making an Offer

After looking at several houses, you will usually find one that fits most of the criteria that you were looking for. When you find a house you like, you will need to make an offer to proceed with the process. Making an offer too low, might not get you the house. Making an offer too high may result in you paying more than you had to. An experienced real estate agent will help you make a realistic offer that is fair for both parties involved. 

Navigate the Mortgage Process

Once you have made an offer and it is accepted, you will now need to secure the financing for the property. Getting a mortgage can be a difficult process to get through. There is a lot of paperwork involved and it requires a lot of patience. In order to find the best deal, you will most likely have to shop around among lenders. A good real estate agent may have connections in the lending industry to help you get started. They might have a special deal worked out with a particular bank that can help you out. 

Initially, you will have to fill out the necessary application and loan documents. Then the bank will want to verify everything including your income and the value of the house. You may be looking at as much as a month to close on the house. A good real estate broker will let you know what to expect and help you all the way through closing.