Hire Your Own Agent!
Hire a local Niles Illinois Realtor who is a Buyers Agent and a member of the Illinois MLS to represent you. A good negotiating buyer's agent could save you thousands on your Niles new home purchase. Your own agent will represent you, be your fiduciary and is required to disclose the positives as well as the negatives about the transaction. Builders agents don't discuss drawbacks. The vast majority of the time the builder's sales agents are paid to represent the builder. Many use high pressure tactics in an attempt to make a sale. Due to the high volume nature of new home sales, most builder's agents are paid less than a traditional real estate agents; some earn a salary plus incentives, so volume is important to their livelihood.
Don't Automatically Use the Builder's Lender!
Builders often prefer to use their own lender because the builder will be kept fully informed of your personal progress; it's one-stop shopping for the new home builder. But a builder's lender might not offer you the best rate. In many cases the builder may even own the lending company or at least have strong financial ties to it. Consider alternate sources to find a Niles lender. Your own credit union or bank may offer you attractive rates and terms, based on your banking history with them. Your real estate agent may even refer you to his or her private list of qualified and reputable lenders. Ask for a copy of your credit report and FICO scores. You can order your own free credit report before shopping for a new home. It's really a good idea. Shop around and interview your lender. Find a banker or mortgage broker that you feel you can trust and whom you feel comfortable working with. Ask your lender to guarantee its Good Faith Estimate. If the lender makes excuses, go elsewhere, because reputable lenders always honor this request.
Obtain Legal Advice Before Buying a Brand New Home!
Before you sign a purchase contract, talk to a real estate attorney. The standard purchase agreements that Niles Illinois builders like to use are designed to keep everyone out of court, especially them. However, they don't necessarily contain language that fully protects the new home buyer. Ask questions about removal of any contingencies and about your cancellation rights. Make sure that you fully understand your commitments and liabilities. Find out if any of the materials used by the Niles builder contain chemicals that may be hazardous to your health. If your purchase contract contains any warnings about health issues, it's may be because it's a valid concern and quite possibly other home buyers have gone to court over it.
Contact a lender early on. If you already know a good one,
contact this lender prior to contacting a Realtor. Most
quality agents won't even show homes with buyers
who are not pre-approved yet. And you almost always need
that pre-approval letter before you can submit an offer
on a property. You'll also need a good real estate attorney early on to guide you through the legal ins and
outs of the purchase contract that your Realtor helped
you put together. Your attorney is critical through the
negotiation stages, reviewing the findings of the
inspection report, and not to mention the closing. Lastly,
movers often need several months of advance notice of your
pending move. Although you may not need to contact one this
early on, it's good to have the knowledge in hand of lead
times, requirements and more importantly, pricing.
We cannot
stress enough about the importance of your lining up certain
professionals early in your home search. Use
the links provided below to assist you in the following crucial stages
A local lender or mortgage broker should be the first professional to
contact. Your local lender can give you a very good idea of
how much you can afford.
A Real
Estate Attorney can assist you in your existing home
sale or a home purchase. From reviewing contracts to title
examinations and more.
Finding
a reliable mover is a very important part of the
process. The right size for your move, the right timing so
everything goes smoothly, and of course, the right price.
It's in your best interest to talk to a moving company as
early in the process as possible.
Contact a 
