Guide to Buying a Home  
  Part 1 - Real Estate 101  
Part 2 - Finding Your Home
  Part 3 - Home Affordability  
  Contact an Agent  


Guide to Buying a Home Part I
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Part I - Real Estate 101

Buying your own home is one of the most important purchases that you will make. The experience should be a pleasant one and result in finding your perfect home with the least amount of hassle. At TITAN Real Estate Group, we are devoted to using our expertise to make your transaction successful!

Purchasing a home is a very big decision. As a real estate agency, we want to assist you by providing honest and accurate information so you can make a well-informed decision regarding the purchase of your home. This website will give you an idea of what to expect during each phase of your transaction. It also contains downloadable reference pages, note pages, and deadline information.

Reason to Work With a Realtor®

A Realtor brings knowledge and experience to the business of buying a home. A licensed real estate professional provides much more than the service of helping you find the home of your dreams. Realtors are not just sales agents. They are expert negotiators and familiar with the local neighborhoods. They are members of the National Association of Realtors (NAR) and must abide by a Code of Ethics and Standards of Practice. A professional Realtor is your best resource when deciding to buy a home.

  • Realtors know the housing market inside and out and can save you endless amounts of time, money and frustration.
  • Realtors can help you with any house, even if it is listed with another broker or is “For Sale By Owner”.
  • Realtors know the best lenders in the area. We can help you get pre-qualified for a mortgage, discuss down payments, closing costs, and monthly payment options.
  • Realtors are excellent sources of general information about the community, schools, churches, shopping, transportation.
  • Realtors are experienced at presenting your offer and can help you through the process of negotiating the best deal.
  • Realtors bring objectivity to the buying transaction and can point out advantages and disadvantages of a particular property.

About TITAN Real Estate Group

TITAN Real Estate Group is an organization that supports the efforts of all our Agents. We work hard to provide the support, professional work environment, technology and tools for our Agents. Our dedicated team of Agents offers experience in multiple areas of the Real Estate Market throughout
the Dallas/ Ft Worth Metroplex. All of our Agents are supported by a team of professionals who are dedicated to facilitating their needs, as well as the needs of their customers. In addition to the foundation of our business, our Agents maintain a strong relationship with the lending specialists in the area to ensure that buyers are getting the best financing available!

All Real Estate Agents are required by law to have a minimum number of education hours to maintain their active license status. At TITAN we encourage our Agents to participate in ongoing education and training provided by both TITAN and other credited institutions in our area. Our Agents work hard to stay current with the inventory of homes in the areas they specialize.

Maintaining high standards encompasses all elements of our organization, from the selection process of the Agents that work under the TITAN umbrella to the professional and ethical standards that we practice every day. We recognize and appreciate the value of our relationship with our clients and want to develop a long- term relationship that is built on the grounds of trust and solid ethics in all the services we provide.

Broker Relationship

Before working with a Real Estate broker or their agent, you should know that the duties of a broker or their agent depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner's agent. A broker or agent who acts as a sub-agent represents the owner in cooperation with the listing broker or agent. A broker or agent who acts as a buyer’s agent represents the buyer. A broker or agent may act as an intermediary between the parties if the parties consent in writing. A broker or agent can assist you in locating a property, by preparing a contract or lease of obtaining financing without representing you. A broker or agent is obligated by law to treat you honestly.

Differences Between the Seller's Agent and Buyer's

Seller Agent - The broker or agent becomes the seller’s agent by entering into an agreement with the seller, usually through a written listing agreement or by agreeing to act as a sub-agent by accepting an offer of sub agency from the listing broker. A sub-agent may work in a different real estate office. A listing broker or sub-agent can assist the buyer, but does not represent the buyer and must place the interests of the seller first. The buyer should not tell the owner's agent anything the buyer would not want the owner to know, because an owner’s agent must disclose to the seller any material information known to the agent.

Buyer Agent - The broker or agent becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer’s agent anything the owner would not want the buyer to know, because a buyer’s agent must disclose to the buyer any material information known to the agent.

Intermediary

A broker or agent may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker or agent must obtain the written consent of each party in the transaction to act as an intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print set forth the broker or agent’s obligations as an intermediary. The broker or agent is required to treat each party honestly and fairly, in addition to compiling with The Texas Real Estate License Act.

A Broker or Agent who acts as an intermediary in a transaction:

  • Shall treat all parties honestly
  • May not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner.
  • May not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer
  • May not disclose any confidential information or any information that a party specifically instructs the broker or agent in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property.

If you choose to have a broker or agent represent you, you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker or agent, you should resolve those questions before proceeding.

Buyers Representative & Agency Agreement

Enlisting services of a professional Buyer’s Agent is similar to using an accountant to help you with your finances, a doctor to help you with your health, or a mechanic to help you with your car.

Realtors devote their time to education, keeping updated on current trends, and market research to find you the perfect home quickly. A Realtor will take care of all the hassles in a real estate transaction for you. We let you concentrate on your full-time job, while we do ours. A Realtor will help you find a home, present your contract offer, negotiate, and close while exclusively representing your interests.

The advantage of signing a Buyer’s Agency Agreement is that you will have a professional working for you to find your perfect home. It is difficult to find a home that meets your needs, get a contract negotiated, and close the transaction without working with a real estate professional. Realtors have a vast computer network to make sure you only tour homes that meet your specific needs. You won’t need to spend endless evenings and weekends searching the Internet or driving the streets to find homes for sale. When a Buyer’s Agent finds homes for you to tour, you will know that the homes meet your criteria for what you need, including bedrooms, bathrooms, garage space, square footage, neighborhood, and price range.

Buyer’s Agents get to know your real estate needs and concerns. This type of relationship is built by open communication at all times and by touring homes with your Agent so he/she can get a good idea of your feedback and concerns about each home. If you use multiple agents, you will not receive the best real estate services possible, and you will be violating your agreement to your agent. There is nothing to gain from trying to find and tour homes on your own, and you will save a lot of time when your agent can tell you everything about any home before you see it.

Entering into a Buyer’s Agency Agreement has countless advantages and no disadvantages. When you sign the agreement, you are simply agreeing to “hire” a personal representative who, by law, must represent your best interests to the best of her ability.

Next : Guide to Buying a Home, Part II
Page 1 | 2 | 3

 


Titan Real Estate Group, LLC
17290 Preston Road, Suite 100
Dallas, Texas 75252
Phone - (972) 692-5000

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