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 a 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.