If you were on trial would you feel comfortable with the trial attorney defending you? Obviously, there could be a conflict of interest that may impact your well being.
This may be a drastic comparison but it does make a point. Although, dual agency is acceptable in some locations, it doesn't remove the possibility difficulties that may or may not arise.
People are always best advised to have their own personal representation.
Here is my tried-and-true, step-by-step advice for First-time Buyers like you.
1. Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.
2. Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.
3. Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.
4. Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home. It's not crazy to bring an agent on board even though you've already found a house, as you asked. If you can't get an offer accepted on this house, then you simply move on to the next house. You'll need a good agent in this market: many sellers today do not seem to realize it is a Buyer's Market.
Put together your Team of real estate professionals and shop 'til you drop!
I am doing plenty of my own research, the agent I have signed up with doesn't spend enough time looking for what I want. If I find good candidates, I call its listing agent, or if it is someone from my agent's company, I call her to set up a viewing.
All the agents I find, and the one I have signed up with are working for the seller and not me. AM I missing something here?
Discuss all of this with a buyers agent BEFORE you make a commitment to purchase. Sellers always have the right to refuse payment to a buyers agent if it is not offered in the listing; a good buyers agent will be able to navigate this for you, before having you commit to a fee.
I would definatly contact a real estate agent and ask them to represent you! When you are buying a home you want someone looking out for you throughout the whole process..To often home buyers make this mistake. It is not a crazy idea at all to bring an agent onboard to represent you after you have already identified a property...As a matter of fact the same scenerio you are describing just happen to me last month. Buying a home is a major decision...you want someone looking out for your best interests.Ask a friend or family member for a referral of an agent or you can contact me and I can put you in contact with someone.