TIPS FOR BUYERS
You want to find the right home, in the right location, at the right price – and you want to do it quickly, with minimum hassle. The best way to do that is to work with a professional realtor who understands your wants and needs, your time frame and your financial boundaries.
- You’ll save time. An agent can pinpoint homes that fit your needs and dismiss those that don’t.
- You benefit from an experienced negotiator. Your agent will manage your offers and counter-offers, ensuring that you get the best possible price for your home.
You want to have an agent that understands your needs and is representing you, and working for you. An agent that is easy to contact, that has time for you and time for any offers that come for your property. An agent that provides you with information and market evidence to supports the price for your house.
Normally, most of a property’s value is not in the house, it’s in the land. You would do well to heed the old adage of buying the worst house on the best street, not the best house on the worst street. If you buy a house that is overdeveloped compared to neighbouring houses, you may think you’re getting a great deal when you buy it, but you will probably have a hard time getting back what you paid for it when it’s time to sell.
This is generally sound advice unless you live in an extremely hot market and your Realtor is sure you’ll be able to sell your home quickly. Timing is crucial, so start working with your agent to find a new home as soon as yours is listed. With a little bit of luck, the day you accept an offer on your home, you’ll be able to make an offer on a new home and close both deals on the same day. At worst, you may have to live in a rental for a couple of months, but most people agree that moving twice is preferable to being stuck with two mortgage payments!
If you like the first house you see, don’t be tempted to make an offer right away. You should look at least a few other houses first so you can get an idea of the homes that are available in your price range.
It’s best to buy a house used for the first time, if your capital is limited, you find the house used curtains and many amenities you like to enjoy while purchasing a newly built home, you going to need more money to finish to conditioning for your enjoyment.
Determine what your are looking for in a home. Often times, buyers get swept up in the emotion and excitement of the buying process and purchase the wrong home. Take the time upfront to clearly define your wants and needs. Put it in writing and measure every home you look at with it.
People can get excited when closing and may rush through the paperwork. Don�t make this mistake. Take your time and review everything before signing it. Make sure that all the conditions in the contract have been fulfilled and that there is nothing outstanding. Make sure the documentation reflects the transaction, and that nothing has been added or subtracted.
Buying a home is the largest and most important purchase you will ever make. The savvy home Buyer makes a conscious decision and commitment to buy, plans carefully, and deals with financing issues first, while keeping emotions in check and out of the way.
Home Buyers can and should be represented by their own Agent, who is bound by contract to do everything possible to protect the Buyers’s interests.
When a home seller receives an offer on there property, there are two primary factors that are always considered immediately. First how much is the offer for, and second, does the Buyer really have the money. The Seller has no way to know who the Buyer is, and how reliable they may be. In every case the Seller is more willing to negotiate price and/or other terms if the availability of the money is assured.
Location, location, location… A home that ia a “good buy” or a homes that is “beautiful” can never cure the ills of being in an undesirable area. Buyers should consider factors like schools distance from work, distance to shopping or hospitals.
There is no reason why a home search should take longer then a couple weeks in a normal market. A Buyer should come to terms about what they really need, want and can afford to buy.
To be successful the buyer should listen closely to the advice of the Buyers’s Agent. An offer that is too low usually results in the Buyer either losing the home or ultimately paying more for the home. Why? Among other factors, a low ball offer puts the seller in the defensive and contaminates the environment needed to result in a WIN/WIN negotiation.
Most home Buyers, even those who have bought and sold many times, are not experts in construction issues, building codes, safety issues and many other items. Homes inspectors are able to find things of concern that the Buyer would otherwise overlook. Since this is going to be one of the largest purchase of your lifetime the few hundred dollars your going to spend on a homes inspection is money well spent.
A Buyer who will utilize mortgage financing should have mortgage pre-approval before starting the search process. This pre-approval is always subject to financial issues remaning unchanged until closing. Buying a new car or missing a credit card payment can be factors that impact the pre-approval and jeopardize the Buyer’s ability to finalize a mortgage loan for the amount desired.
Real Estate purchases are among the most complex business transactions that most people ever undertake. There are many things to be considered. the survey is a verification of property boundary lines and should display any encroachments or easements. Title insurance is a guarantee that when you purchase a property there is no one else with any claim on your property. Should someone claim a prior ownership the title insurance company is obligated to protect your ownership.
There are many details that only the Buyer can resolve to assure a timely, trouble free purchase and closing. The Buyer Agent will counsel and assist throughout the process but the Buyer will have the best overall result by being fully aware of all the aspects of the process and asking as many questions as possible along the way.