Buying a Home? Here are the new rules starting August 17th!
Buying A Home? Here are the New Rules Starting August 17th!
Buying a home is a significant milestone, whether it's your first purchase, you're upgrading to a larger space, or you're downsizing to better fit your future needs. Now more than ever, it is essential to work with a buyer's agent who is experienced, knowledgeable, and your chosen advocate for one of the most significant and complex purchases in your lifetime.
This month, there are some important changes you need to know about in the home buying process.
Starting August 17th, new rules will be in place that will affect how you work with a buyer agent. Here are the three key points:
1. Buyer Consultation
The first step in buying a home is to meet with a buyer agent for a consultation. This is similar to how sellers consult multiple real agents prior to listing their property to choose the right partner for the selling journey. During this consultation, the buyer agent will explain the home buying process, set clear expectations and a plan, and provide valuable insights into the market. This initial meeting ensures that you are fully informed and prepared for the buying journey ahead.
2. Signing the Buyer Broker Agreement
Starting August 17th, all buyers will need to sign a Buyer Broker Agreement. This agreement is crucial and now mandatory for all buyers to sign prior to even stepping foot into a home. The agreement as outlines the duties, responsibilities, and compensation of the buyer agent. It's similar to the agreement sellers sign with their listing agents. By signing this agreement, you are choosing to have professional representation throughout the home buying process. This change is in response to a national lawsuit involving the National Association of Realtors (NAR) and aims to ensure transparency and professionalism in real estate transactions.
3. Let's Get a Coffee and Discuss the Home Buying Process ☕
We understand that buying a home can be overwhelming, and we're here to make it easier for you. Give us a call, and let's set up a time to grab a coffee and discuss the home buying process in detail. At San Diego Castles Realty, our experienced and reputable agents are ready to guide you every step of the way, ensuring you make informed decisions and find the perfect home for your needs.
Remember, it's your move, and it's our job to get you there!
If you have any questions or are ready to start your home buying journey, don't hesitate to reach out to us at San Diego Castles Realty. We look forward to working with you and helping you achieve your real estate goals.
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At Scott & Quinn Real Estate, the customer is always at the center of their business. They look forward to earning your business and will assure you that they will never take that trust for granted. Adhering to the highest standards of ethics and professionalism, and delivering on their brand promise of excellence in marketing and representation.