Locating a Search and Buying Advisor

Most Search and Buying Advisors have a web page as well as offices. A browse through several web pages will help you decide which company is best for you, according to your budget, their advertised services and your needs. A S&BA should be your right-hand person at a time when you are making a very important financial decision. So, as with all estate professionals, research your choices and listen to recommendations, but in the end choose a Search and buying Advisor you feel you can trust.

Cost

Per service, flat fee or percentage of home value?

Search and Buying Advisors sometimes offer flat fees to corporate clients. For most of us, there are a few more steps to it:

Most Search and Buying Advisors require an initial registration or retaining fee, which may be more or less according to the value of the property you'd like to buy. This registration fee may be refundable, and it is important to ask if it will be deducted from the final fee.

After you agree to buy the home, expect to pay a service fee. This fee is usually a percentage of the purchase price or of the saving, whichever is more. This saving is usually defined as the difference between the asking price and the eventual purchase price, which of course should be lower due to the advisor's negotiating skills.

Services like previews and tours around the prospective area should be included in the final service fee, although some companies will charge separately for these. Luckily, you'll find that some companies advertise initial consultations and area prospects as free services on their webpage. Ask about any further obligations and, if there are none, feel free to use these services to your advantage. This will also help you to get to know the company better, and decide if you feel comfortable with them. Remember, as the field of Search and Buying Advisors is still relatively new, there is strong competition amongst service providers, and you should feel your time and business are being highly valued.

Important questions to ask your Search and Buying Advisor?

You should feel free to ask your S&BA any and all questions you can think of. Here's a few that may be useful:

Are you an independent Search and Buying Advisor, or are you associated with an Estate Agent? This is an important question, as its answer may reflect how effective they would be in negotiating the lowest price possible for you.

How much will I pay for each your services? Be sure you get a thorough breakdown of fees for each particular service, and that there are no 'surprises'.

Will I have to pay a registration or retaining fee? If so, will this fee be refundable?

Does the contract specify that you will produce the lowest price possible? Many S&B A's claim their services usually pay for themselves with the money you saved.

Do you have contacts with related professionals, such as solicitors and financial advisors? Also a time-saver, as most Search and Buying Advisors work closely with other branches of the property professions. In fact, some S&BA's can even recommend a good interior decorator, should you need one!