Many homebuyers get away from hiring buyers agents because they think they can save money from not paying the fees. Some went through the buying process alright but not as expected, and worst paying more than what they should if they’ve buyers’ agents Sydney working on their behalf. Here are some of the scenarios that are more likely to happen when purchasing a home with a buyer’s agent.
Over paying for a property
It’s possible to strike better deal when doing home purchase on your own. However, there is always the risk of overpaying. Home prices are fast changing and ordinary homebuyers may not have the right connections of knowing the latest house prices and of the latest sales. Buyer’s agents Sydney in particular monitors the local market and would have the right information if the price were going down or not. Since they work to protect buyers, they would make initial inspection on the property for need for renovation and on how it will cost. Getting the deal with a buyer’s agent could save a homebuyer more than 50,000 dollars by getting the house lower than its price because of its renovation need.
Over-paying for the loan
Homebuyers get home loan to purchase their dream property and buying without an agent will have them work on finding the mortgage. They could search the best lenders online and settle with the one with a low interest because they assume a lower interest loan is a good deal. However, buyers’ agents Sydney could advice buyers about loan with low interest and its hidden agenda. Loans with low interest are usually bundled with high lender’s fees and are more expensive in the long run. Your buyers’ agent in Sydney would keep an eye out for you and discuss with you other loans available with higher interest rates and how it could save you more than thousands of dollars on mortgage payment.
Not getting back the deposits
Homebuyers sometimes have a sudden change of heart and realized the property is not what they want. They can cancel the contract and get back their deposits if they’re able to follow the agreed-upon channel. Most homebuyers without a buyer’s agent fail to deliver the notice to cancel the sale and never get back deposits. Buying a property with an investment property Sydney would guarantee you’ll get your deposit if ever you change mind in buying the property because your agent will send the notice immediately and follows the agreed terms. You get your earnest money deposits as exercise of your rights.
To avoid these not- so- good home-buying scenarios, get a buyers’ agent or a stress-free home purchase.