Why do so many 1st Time Home Buyers?

Question

resist taking a class?

Free 1st HB classes can be found in many places. The importance of the subject is such that I believe EVERY 1st tHB should require of themselves, education before speaking with a lender or a real estate agent.

Answer 1

Because you have to plan in advance to take a class. Too many people want it and want it now! Taking a class or doing any research might delay the home purchase by a month or so ...

Answer 2

I think people should seek out independent help rather than contacting realtors or lenders. It's like asking a car salesman if they should buy a car, or a bank if you should borrow money... what do you think the answer would be? By independent, I mean someone who does not make money on the real estate transaction itself. Try talking to your personal accountant, or financial advisor. Absent that, the internet does have useful information if you are willing to dig.

Remember, a buyer and seller's agent/realtor both get payed only in a sale, and the many seminars/classes are run by this industry.

Answer 3

Typically, first time HB classes are offered by Lenders, Builders and Realtors..... so if someone is taking one, they are actually talking to one of these people who you seem to think they need protection from.

What people need to do is look for a Realtor first - to represent them. This is not the same thing as calling a real estate office from the yard sign on a house you think you might like - when you do that, the friendly Realtor on the other end of the phone has a responsibility to do the best they can for the SELLER of the house.

Talk to your friends, relatives, co-workers about the Realtor that helped them. Find one you are comfortable with - then tell them what your needs, wants and abilities are. Then, that Realtor can help you get your best deal.

Answer 4

I think so many first time home buyers today feel they have a great resource in the internet and they are doing so much more research in that venue prior to even contacting a Real Estate or Mortgage professional.

As a Mortgage Broker, I wish more of them would seek out a class, simply because it would make it seem real, as opposed to a detached internet research crammer, which can falsely give the feeling of real know how.

FTHB's are no different than someone shopping for a digital camera or a frying. People just really want a quick, easy, black and white end result to most anything these days.

Answer 5

1. Many people are not aware they exist.
2. Many don't think they are really free.
3. Many people believe that they can learn all they need to know asking question or read things at sites like this one.
4. Most are offered by Realtors or Mortgage company so people assume it is a sales pitch.

Answer 6

if you mean a 'home buying class' i dont think they are resisting, as much as they are just unaware of them.

Answer 7

there are classes

Answer 8

In what?