What is a Buyer Broker
Buying a home is an exciting time in one’s life. Choosing a professional REALTOR® and Buyer Broker is a significant first step to ensuring that your new home and community meet your needs. My services and 23 years of experience as a New Mexico Buyer Broker are broad. As your Buyer Broker and Realtor®, I am focused on you and your needs and ensure a successful and pleasant transaction.
When you use a Buyer Broker to represent you in a New Mexico real estate transaction, a written agreement creates a legal and binding contract between you and the buyer broker. The agreement can be for a specific property or any property. The Buyer Broker agreement may have language for compensation; however, buyer brokers are typically paid as a percentage or flat fee advertised by the listing broker in our MLS. The agreement creates a written relationship and understanding of the expectations and obligations of both parties. You get a professional Realtor® representing your best interest in the transaction.
As Your Buyer Broker, I Will
- Match you with an excellent local lender. I want a professional and ethical lender in your corner that will guide you to the best loan for your qualifications and needs.
- Understand your specific wants and needs in a new home. Communication about these criteria is vital to finding the best house and community for you.
- Assure you have access to all the properties in the area that meet your criteria.
- Ensure you pay the appropriate amount for your new home and help you avoid costly mistakes.
- Answer or get answers to your questions about the local market area, including schools, neighborhoods, the local economy, and more.
- Negotiate the best outcome of the purchase price and terms to fit your needs.
- Navigate the many complexities of a purchase contract, including critical deadlines, inspection contingencies, inspection objections, and possible repairs.
- There are many moving parts to any real estate purchase contract; I use a proven method to ensure your agreement stays on track to the final closing.
- I pride myself on repeat and referral business and hope that as your Realtor®, you’ll come to understand why.
Before You Start Looking For Your New Home:
- Choose a Buyer Broker and REALTOR® that you trust and who understands your needs.
- Check your credit rating. Straighten out any errors and get your credit report in order.
- Determine a comfortable monthly budget for your new purchase, including down payment and monthly installments. We can help with this.
- Find a loan that meets your needs and get pre-qualified (preferably pre-approved). We have some great mortgage professionals to suggest.
- Determine what neighborhood or areas best match your needs.
- Identify important key features you need your new home to have. i.e., Bedrooms, Baths, Size, Single Story or Two, Yard Size, etc.
Have Your Buyer Broker Estimate Closing Fees:
- Lender fees include charges for loan processing, administration, underwriting, preparation, credit report, flood certification, lenders’ title insurance, and establishing an escrow account.
- Third-party fees include charges for one year plus of upfront insurance, appraisal, survey, and various home inspections.
- Government fees include deed recording, filing fees, and state & local mortgage taxes.
- Escrow and interest fees include homeowner’s insurance, loan interest, real estate taxes, and, if applicable, mortgage insurance.
Here are some additional tools for your review. Remember to contact a qualified Buyer Broker and Realtor® to guide you through the complexities of a real estate purchase. Here at Albuquerque Homes Realty, we have the experience and track record of successfully helping buyers find, negotiate and close on their new homes.
Albuquerque Homes Buyers Closing Costs.