Real Estate Agents: First Time Home Buying Help

First time home buying, no matter the age of the buyer, is always a somewhat intimidating process. Although the buyer's real estate agent provides them with assistance, the buyer nevertheless needs to understand what they are agreeing to when they sign the paperwork.

Buying a home for the first time requires signing unimaginable amounts of paperwork. This paperwork includes deeds, promissory notes and legal liability releases for known problems with the property, to name a few. Usually, the entire process of signing paperwork can take up to a few hours, despite the preparation and execution assistance of a title company.

This paperwork is required because buying a home is a very serious event in which an individual agrees to take over possession and financial responsibility for a piece of property. The county, city and state usually want to ensure that they have properly recorded the changed ownership of the property for tax and record purposes. Because of this, many signatures acquired during the closing process are duplicates: each agency requires an original copy, thereby requiring the buyer to sign the same paper multiple times.

The amount of paperwork, however, has more to do with the mortgage company than any legal recording requirements. A mortgage lender always takes a huge risk when they provide money to purchase a home; after all, there is very little they can do to prevent the buyer from defaulting on their payments, which means that the lender loses on that investment. Like city and state agencies, a mortgage lender requires multiple original signatures on loan documents.

This multitude of paperwork for first time home buying means that – although fun - closing day can be quite daunting. A good real estate agent, however, assists buyers through the process, possibly even going so far as to attend the closing.

None of this, however, compares to the process of searching for a first home. Not only does the amount of money such a purchase requires usually frighten people, but the decisions that must be made can also be difficult. Location, amenities, resale potential and other considerations must be factored into the search and final decision to buy a home.

After all, it is searching for a home that is the first step to buying one. This search may require days, if not weeks or months of searching for the right place for the buyer. Even after finding a location, however, there is no guarantee that the seller will accept the offer or that, after acceptance, the sale will proceed as planned.

Nevertheless, these aspects of first time home buying do not make the process unworthy of a buyer's time. Buying a home is a sound investment in the future, as well as an opportunity to showcase the buyer's personal decor and lifestyle tastes. This is where a real estate agent enters the scene: to help a buyer make the right decision and help them purchase the property as smoothly as possible.

By: Jeremy C. Winters

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