House Hunting Basics
It’s usually recommended that homebuyers work with an experienced real estate professional. Not only will they assist you in your search, but they’ll be able to provide advice and support throughout the process—contract negotiations, financing, home inspections, closing, etc. If you choose to not work with an agent, make sure you have an attorney review any contractual or legal documents.
Need help finding an agent? Family, friends and neighbors are a great resource for referrals. You can also check out listings in your current or desired neighborhood.
- When you're purchasing a home, you'll work with a buyer's agent, who will represent you in the transaction. Likewise, the listing agent represents the seller, the owner of the home you are purchasing.
- Working with a buyer's agent is typically free of charge—the seller will pay both agents (buyer and seller) a commission when the sale closes. However, you should always confirm with your agent as compensation/incentives may differ by state.
Did you know that Fannie Mae has properties for sale? And Fannie Mae repairs many of its HomePath properties making them great opportunities for buyers, especially first-time homebuyers. This helps to stabilize home values and neighborhoods. There's also a special offer with the First Look™ program which allows homebuyers, who will occupy the property as their primary residence, to bid and purchase foreclosed properties 15 days before they are made available to investors. Visit www.HomePath.com to learn more and search thousands of property listings.