Questions To Ask When Buying A House On Table Rock Lake
New home buyers have lots of questions. We tell our clients there is no such thing as a stupid question. If you’ve never purchased lake area real estate before, you’ll never learn the process without asking all the right questions.
Buying a house on Table Rock Lake is a serious investment. There’s no need to pretend you already know all the ins and outs. Get informed.
One of the first places many new buyers start with are open houses. They are lots of fun. You get to just walk in and tour lake front homes with no obligations to Realtors at all. Or do you? What if you find a lake front home you think would be in your price range and budget?
Please take our advice and move slowly. Don’t sign anything until you feel comfortable with proceeding financially. A good Realtor will give you the steps on how to proceed.
First, you need to understand the Missouri Broker Disclosure Form which will describe your relationship with your Realtor. For example, the Open House you are touring is being represented by the Seller’s Realtor.
This is legal as long as the Realtor discloses to you that they can be a Dual Agent representing both Sellers and Buyers. But, maybe you would feel more comfortable with a Table Rock Lake Realtor being your Buyers Agent, meaning that their loyalty in this transaction belongs to you.
At a minimum, make sure the Realtor becomes a Transaction Broker, meaning they represent the transaction only and not just the Sellers.
Next, your Table Rock Lake Realtor should help point you in the direction of getting pre-approved for a home loan. If you don’t already have a lender, you should probably take the time and apply with about three different lenders for a good comparison before you select the best terms for your loan.
When you’re finally ready to make an offer, be sure to take your time and ask plenty of questions. You will be working with legally binding documents, We can’t stress that enough.
All Realtors should have both the patience and the knowledge to explain and answer any questions relating to your purchase.
Your goal at the end of this process is a successful closing. Hopefully after the accepted offer, the inspections, appraisals, and final loan approval your lake front home purchase will be a smooth transaction.
Joe and Billie at Lake Time Realty have worked with many clients and have walked them through many successful lake house real estate transactions. Please feel free to contact us with any questions. We have both the patience and the knowledge to help.