Buying a home just got harder for most home buyers.
This actually is not exclusive to buyers, and it is definitely going to impact sellers too. Just think of the issues that will be created for sellers, if buyer can't buy as easily.Have you seen the NEWS! It is out there like crazy on all the major networks. Everything from prices are going to drop, to no more commissions need to be paid when selling. The media has gotten this one wrong, and I want to show you why.
The truth. There was a HUGE settlement that is going to change the way you buy (and sell) homes. This new rule is likely to pass, but it is not final as of this writing. Make sure you stay up to speed by liking following, and subscribing to get updates as they come out.
Several ways this will affect the market include, but definitely not limited to:
1. Buyers will be required to have agency agreements with the agent representing them.
2. Closing cost contributions will potentially be reduced.
3. Veterans (at this time) will not be allowed to have representation when getting a loan.
4. Sellers will be more aware of where the fees are going.
5. There will be greater transparency in the transaction.
I question the good that will come from this. I am concerned the intent is going to create incredible difficulties in the buying and selling process. No need to panic though, there are solutions. I am going to show you how to navigate these changes and what to look out for.
Here is the first video in a new series to show you how to buy a home regarding the new changes. I will continue to add more videos to add clarity.
There will be more videos to come. There are a lot of details to cover. Please feel free to share this video with someone you know that is thinking of buying or selling.
