Everything A Real Estate Agent Doesn't Want You To Know Part 2

So you are thinking about buying a home? Typically, people who are planning
to buy a home, and especially first time home buyers, start by looking through
newspapers ads and real estate magazines before calling a real estate company
and talking to a real estate agent. And that’s where the problems tend to
begin. As a homebuyer you must understand that real estate agents represent
sellers (they have a legal duty to represent sellers) and not buyers (.) The
only exception to this rule is in the case of "buyer broker representation"
which I STRONGLY advise against using because it’s basically a scam designed
to squeeze money out of both ends of a real estate deal, money from buyers and
money from sellers. You see, the term "caveat Emptor" means "buyer
beware". That means the duty to protect your legal and financial interests in
a real estate deal falls squarely on YOUR shoulders. If you make wrong
decisions, sign stupid contracts and do less than an intelligent deal-it is your
fault. In my mind, the term "buyer beware" is a fancy way of saying
"cheating is okay".

It all boils down to knowledge. Real estate agents are trained in real estate
principles, practices, some real estate law and some (and I mean some)
financing. How much training have you had? How much do you know about real
estate law? How much do you know about real estate financing? What are your
financial options? Are the loans being sold to you in your best short, medium
and long-range interest? These are key questions you need answered. So here’s
a few tips on getting your bearings in the right direction before you do
anything.

Number 1-Get the home financing together first! This is the singular most
important element of a real estate deal. Why? Because after the whirlwind of
emotion of your new home passes (and it will) you will have a "mortgage
monkey" strapped to your back for 15 or 30 years. You want the best interest
rate you can get but you also want the best loan program to meet your personal
needs. There are a ton of home loans on the market; 15 and 30-year conventional
loans, adjustable rate mortgages (ARMS), Government loans like FHA, VA loans and
there are gimmick loans like negative amortization loans, nothing down loans,
etc. The point is that lenders are in the business of selling loans- that’s
right they are selling you a loan and you are paying for it in the form of
closing costs and interest rates. Nobody can get this information together for
you except you (.) You are the one that will live with the loan and that is why
you need to get your financing together first! My report gives you the steps you
need to take to seek out the right loan for YOU.

Number 2-Get an attorney specialized in real estate transactions (.) People
tend to see a lawyer AFTER they have a legal problem. Be smarter than that-see
an attorney first and get representation, buying a home is a big business deal
right? I cannot emphasize enough the importance of having a lawyer to review
your legal documents before you sign anything (.) Not to hype the report but it
has some tips on this issue.

Number 3-Avoid real estate agents until you are strategically ready to talk
to them. Remember; agents are trying to sell you a property-and they are not
your agent-they are salespeople on a commission and they have a legal duty to
not only represent the seller but to get the highest possible price on behalf of
the seller. People get hurt everyday in real estate deals and don’t even know
they are bleeding. Why? Lack of information.

My E-Report: 101 Tips For Homebuyers, Sellers And Money Borrowers will help
you with more information regarding this article- go to smart Books website,
fill out the form requesting a copy and we’ll send it to your email address
within 24 hours-absolutely free this week! Another Ezine Article Exclusive! Keep
reading, theres' more to come! Until next time...

Smart People Read Smart Books!

Copyright © 2006 James W. Hart, IV All Rights reserved

NAME: Jim Hart TITLE: CEO-Smart Books Publishing SMART BOOKS WEBSITE: http://www.smart67.com
FREE PRODUCT: Article offer-per request. PRODUCT: Consumer Books, Kits &
Special E-Reports in the areas of Real Estate, Business and Personal Finance.
MESSAGE: IF YOU DON'T LIKE OUR PRODUCTS, SEND THEM BACK. HAVE YOU EVER TRIED TO
SEND A HOUSE BACK? WEBSITE IS A PAY PAL SECURE SELLER: Yes WEBSITE IS A SECURE
CREDIT CARD MERCHANT: Yes MEDIA INTERVIEWS Yes-See Bio