You want to buy a house and you've started looking at homes for sale! Athens GA is an ideal location for buying a home!
Congratulations on taking a big step that will positively affect the rest of your life. That's no exaggeration. Purchasing a home has been found to be the largest source of investment for people in the United States. Unlike most purchases, buying a home is a complicated process. It is the largest financial commitment that most people ever make. It only makes sense then, that you seek guidance from someone who has been through the process multiple times.
Mark Mahaffey and Associates Real Estate have that home buying experience, and we are glad that you have found us. We are passionate about helping people find the perfect home, whether you are a first time home buyer, moving up to fit an expanding family, purchasing a getaway home at the lake or down sizing to spend more time traveling and less time maintaining a home.
The process of purchasing a home in the Athens area can be overwhelming. It might seem like there are a million details, but we want to encourage you to not let the thought of those details keep you from fulfilling a dream...what some people call "The Dream" of home ownership. Our real estate professionals at Mark Mahaffey and Associates Real Estate can take that pressure off of you when you delegate the details to us. Of course, you'll have access to our advanced systems and our experience, but you'll also enjoy working with someone who might end up becoming your friend...that has happened with many of our Athens clients.
The best time to get started is now, but we will work at your pace. If you have just started looking for homes for sales in the Athens area and hope to be in a home within a couple of years, we'll work with you over that period of time and will be here for you as you work towards that goal. On the other hand, if you are starting a new job in a few weeks and absolutely must find a Athens home immediately, we can handle that too.
Before going any further, let's address a question that almost always concerns our first-time home buyers, and that is: What out of pocket costs should I expect for being represented by my agent? Of course, just like any transaction where you are making a large or complicated purchase, there are associated fees. However, it may sound too good to be true, but usually the buyer pays a very small amount relatively speaking, because almost all of the fees are built into the transaction itself. Some exceptions might be any inspections that you choose to have performed at the home prior to purchase during the due diligence period or the appraisal fee required by the bank.
In general, here's how the process works. A seller’s real estate agent agrees to market a seller's property (i.e. list it). The seller agrees to pay that agent a commission when the house is sold. In turn, the agent that listed the property often agrees to pay a portion or all of their commission to the agent that represents the buyer. So, as a buyer, you get the best of both worlds...your own representation (extremely important), and the benefit of not paying a commission upfront to your real estate agent.
Why is it important that you have your own representation? Because the seller's agent has a loyalty and a legal obligation to the SELLER! Their entire job is to remove as much money as possible from the buyer's pocket! :( As a buyer, you NEVER want to deal directly with the seller or the seller's agent. That's like a sheep wandering into the wolves lair...ouch! And no, the seller's agent (probably) does NOT know more about the property. Most likely, they were there one time to list it and haven't been back since. However, our buyer's agents show properties on a regular basis and are often in the same home multiple times to show it to different clients and have usually obtained more in-depth knowledge and information.
What if the seller’s agent does not agree to pay the full amount of the commission that the buyer is responsible for? There are 3 methods for dealing with this.
1) You can refuse to see the home. A seller that is already indicating right from the start that they might be difficult to work with or uncooperative could present other issues as the transaction proceeds. And, while finding the right home to purchase is important, how smooth the transaction proceeds is often just as important to the participants. Most people find that they have much better things to do with their lives than to introduce more drama than they already have to deal with on a daily basis. So, the majority of buyers will often ignore homes where potential issues exist.
2) Let’s say you really like a particular home where the seller is only willing to pay a discounted rate. You can instruct your agent to negotiate the commission amount with the seller’s agent. The seller’s agent must present this request to the seller, and it is not up to the seller’s agent to make a judgement. The seller does not have to agree, of course, but the information has to be conveyed. Many times a seller will agree when they know that they have an interested, qualified buyer rather than take a chance that they will lose a buyer that accomplishes their objective…to sell their house.
3) You can simply choose to pay the difference. After all, it is a cost associated with a service being provided to the buyer. Tradition dictated in the past that the seller often covered costs for the buyer, but this is changing. One of the causes is the strength of the market, and sellers have asked themselves why they are paying someone else’s costs when there is so much interest in the home they are selling. And, certainly not the least important reason is the interest the Department of Justice has taken in real estate transactions that is causing costs to be allocated appropriately between the parties.
So, why do sellers do this in the first place? In some cases, an ill-informed seller will decide to reduce the amount they will pay to the buyer's agent, because they think they will put more money into their own pocket. We have found that this is NOT the case. When a seller does this, they are limiting the number of buyers that are interested in the home and putting downward pressure on their own price. Lower demand equals a lower price, so they are only hurting themselves! Obviously, we inform our seller clients to NOT do this! But, we don’t serve every seller out there (as much as we would like to, lol!). So, in a majority of cases, buyers will simply choose to not work with that type of seller.
Frequently Asked Questions About Buying A Home.
Another great reason to work with Mark Mahaffey and Associates Real Estate when buying your new home!
You just purchased a home. Everything is going great, and you are loving life. The last thing you need is a big bill from an unexpected breakdown. Don't worry, we've got you covered. One of our preferred partners is HWA (Home Warranty of America). Take a look here to find out more about how we can help you avoid major bills after your purchase.
Frequently Asked Questions About Buying A Home.
