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A REALTOR'S SERVICES CAN HELP WITH HOME BUYING Q: We tried to find a property to buy without a Realtor and became terribly confused and discouraged. When we finally walked into a Real Estate office for information we were so impressed with the help we received. We have finally closed on our new home and are so happy. We just thought that you should write something so that others will understand the full extent of the services that Realtors offer. A: When you're ready to think about buying or selling your property, you need to ask yourself the following questions: Do you have the time, energy, sources of information, and contacts to do the job yourself? If you were one of the do it yourself people, would the results be as good or better than they would be if you had professional assistance? Would it have gone smoother? Would it have given you more personal time? Would you have purchased for less if a Realtor was involved? The following information may help you learn how a Realtor can help you understand everything you need to know about a real estate transaction. The process of buying a home or investment generally starts with determining your buying power: that is, your financial reserves plus your borrowing capacity. If you give a Realtor some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Once you know how much you can and want to invest, the next step is to find the properties that most nearly fit your needs. Realtors have many resources to assist you in that search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your Realtor to find all available properties. Your job is to make the final selection of the right property for you. This is when excitement and emotion run high. Your Realtor can assist you in the selection process by providing objective information about each property. Once you are ready to buy, there are a myriad of negotiating factors, including, but not limited to price, financing, terms, date of possession, and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should also provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your Realtor can advise you as to which investigations and inspections are recommended or required. With a negotiated agreement in hand, it is time to complete the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your Realtor can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. Finally, there is the closing, or settlement, as it is known in different parts of the country. Every area has its own unique customs. In some areas the title or escrow company will handle this process. In other parts of the country, an attorney does it all. Again, your realtor can guide you through this process and make sure everything flows together smoothly. Real Estate transactions involve one of the biggest financial investments most people experience in their lifetime. Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in Real Estate without the professional assistance of a Realtor.