Know your rights in any real
The process of buying a house can be intimidating
if you don't know what to expect. However, by taking time in the
beginning to learn your rights as a home buyer, you can make sure
you're getting the best deal possible and stay in control of the
transaction every step of the way.
"You have to remember that you, the buyer, should
be at the center of the deal, not the real estate agent, not the
mortgage lender. You have the money and everybody should be paying
attention to you," says Ilyce R. Glink, author of "100
Questions Every First-Time Home Buyer Should Ask: With Answers from
Top Brokers Around the Country."
Those rights, she says, extend throughout the entire
You have the right to representation by a real estate agent or broker
that is equal to that of any seller. That means you have the right
to a real estate agent that works for you and should have your best
interests in mind. In some states, the same agent can represent
the seller and buyer. Always get your
own real estate agent or broker who answers to you, not the
"There's a lot of fine print in mortgage loans
and terms so you've got to get a handle on what the different terms
mean and that's where working with an agent that specializes in
buyer representation is going to be of value," says Walter
Moloney, a spokesman for the National Association of Realtors.
person is not paying attention to your preferences, find another agent.
You also have the right to a written contract with
your real estate agent, which specifies that confidential information
not be given by the agent to the seller or seller's agent without
your explicit permission. In addition, you have the right to expect
your agent to help you evaluate properties, negotiate the best purchase
offer you can and provide advice on the intricacies along the way,
such as the inspection process, the final walk-through and the closing
If you feel that your real estate agent or broker
is treating you unfairly, contact the real estate commission for
You have the right to an attorney, who can help you understand all
of the fine print involved with the home-buying process.