Some buyer agents will request that you sign a contract with them. In order to be represented, this is not mandatory. What IS mandatory is that you sign an agency agreement- required by law. That form will provide choices in representation, including buyer agency.
The fee paid for having your own agent typically comes out of the fee paid to agent with the sign in the yard. Sellers have the costs to sell built into the price of the home if it is in the multiple listing service (and Realtor.com), which often covers buyer agency. Real estate agents are paid when you close on the property.
Before you sign anything at all, you will also want to have determined who your attorney will be.
Good luck- and congratulations on the decision to buy!
There are First Time home buyer Course offfer by the HUD, try checking out there site to find a local one or call the county you live in to see if they hold a semniar. As well there are Real Estate Professioanls such as Wells Fargo Bank the but on first time seminar host throughout the country. But when it is all said and done here are the basics:
1. Get Prequalified before you look for a home: this allows to know and how much you want to spend on a monthly basis for a home before you fall in love with something to expensive.
2. Find a Real Estate Agent or Broker that Represents you and not the Seller you can find them on the www look for a CBR or an ABR these designation show that the Realtor has complete course or study programs and will be best suited to understand how a buyer broker can help you out.
3. Make a list of " Wants and Needs" and then Search for a home. We have our Cleints make a list
this way we have a better understand as to what they are looking for. Wants being thing you would like to have and Needs being the things that you can not live with out. Such as if you have 4 people in your family then a 2 bed room home might not work but a 3 bed might the min or even a certin school district or price point. But the Wants can make a house a home such as pool or 2 car gar. Keep in mind you can stray from the list but it can help focus you on what is more important to you and you family and even put n the table early what you or a spouse mey thing is important to them.
4. Search for a home, get set up to recieve daily emails of new listing that meet your criteria, check out a few neighborhoods such as where you may have family or freinds.
5. Find a Attorney (if you have One Great) you can go the NYS Bar Association or a local phone book. As well there ar many people who may have referral.
6. Make an offer and make the deal that best suites your need and wants.
It all comes down a few things are you albe to afford it, are you happy in it and can you see you self and you family growing in it.
Feel free to let us know how we can help, Good luck
Congratulations on making the decision to buy your first home!
Hire a buyers agent to represent you. It doesn't cost you anything and they will be there to help you learn everything you need to know about buying your first home.
In addition you may want to sign up for a first -timehomebuyers class. Your agent can provide you with a list of what is available in your area. Your lender can assist you with that too.