“I’d rather have a buyer choose a different agent than think they’re going to get better service by working with a number of agents,” she explains. But for those who don’t, that’s okay, too! In most cases, her potential clients are happy to say yes. “I tell buyers that we’ll first have a meeting, then we’ll go look at properties on an outing or two, and then I’ll ask if they want to work with me exclusively.” “There’s a document I present to buyers that explains buyer agency in Illinois, and there’s another document I show that explains dual agency,” says Dobbs.
#IRS BUSINESS TRAVEL DOCS WHEN BUYING REAL ESTATE FULL#
Nonetheless, she ensures that her clients have a full understanding of what buyer agency really means. This is a contract you might sign - though note that they’re more common in some states than others - when you’ve found a great agent whom you trust to help you find the perfect home.Ī buyer representation agreement solidifies the relationship between you and your agent: You’re agreeing to work exclusively with them to find your new home, and they’re agreeing to act in your best interests and represent you to the best of their ability.ĭobbs works in Illinois, where buyer representation agreements are not common. Your agreement with a buyer’s agent may be one of the first legal documents you’ll encounter when buying a home. Grab a pen and let’s review! Source: (Gabriel Rosenblut / Unsplash) Real estate agent contract
We’ll also hear from Richie Helali of HomeLight Home Loans for an inside scoop on the loan-related documents for buying a house.
Here to help is top Chicago-based real estate agent Debra Dobbs, whose 37 years in the industry have made her a true documentation expert. That’s why we’re laying out a comprehensive list of the most important - and sometimes misunderstood - legal documents involved in the homebuying process. Gaining an early understanding of the legal documents for buying a house will help you avoid confusion and keep stress levels to a minimum while you’re in the midst of negotiations, inspections, and closing. This stack of paperwork is, however, essential. When thinking about buying a house, most of us can probably agree that wading through legal documents seems like the least exciting part of the process.
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