3. End up in a lawsuit over matters which could have been prevented had both parties had adequate and skilled representation. 

NOTE: Many Buyers erroneously think that the Closing Attorney will adequately represent them at closing.WRONG… the Closing Attorney represents the Lender.    

Benefits of a Buyer’s Agency 

1. A Buyer’s Agent can research the neighborhood, what houses are selling for in that area, what houses have sold for in that area for the past two years, and help arrive at a reasonable value for the Buyer’s prospective house.

2. Agents are familiar with the area; i.e. schools, restaurants, traffic, investment values, etc.

3. Agents can save a Buyer hours of driving time by pulling up properties on the computer.

4. Agents have access to information on each listed property through MLS (Multiple Listing Service) and FMLS (First Multiple Listing Service). Only a licensed agent is able to access this information on the computer and it is much more detailed than what the purchaser can find online.

5. The agent will prepare all your paperwork from the initial offer to the day of closing, review the   Settlement Statement prior to closing, guide the Buyer through the inspection process and negotiate on the Buyer’s behalf to make sure that he/she is not paying too much for their home. The Listing Agent of a property does not represent the Buyer, they are under contract with the Seller and their financial responsibility is to the Seller.

2. Does the Buyer or Seller pay the Transfer Tax, and is a Survey mandatory?

3. What does Stucco, Polybutelyene Piping, Louisiana Pacific siding and Georgia Pacific siding have in common?

4. What is a HUD1 and when should the Buyer be able to review it?

5. How much downpayment is required to forego Mortgage Insurance?

6. What is the difference between Closing Costs and Prepaids?