Choosing a Real Estate professional is one of the most important decision you will make when buying property. It is important to check references–ask your real estate professional for past clients’ contact information so that you can determine if the professional that you are considering is the best fit for you. Buying a home is one of the largest investments one makes in their lifetime–choose wisely who will be working with you in this very important matter!
Buyer Tips
Be a Smart Consumer
Know what you want. Make a list of features that are important to you–those that you absolutely must have, and those that are ‘wants’ but not ‘needs’. Ask yourself what you’re looking for in a home, before you shop. Think about size, commute time and maintenance issues.
Learn the financing basics. Know how to shop for a home loan that’s right for you.
Get pre-approved. This takes very little time and lets you know the price range that fits your lifestyle. If you would like a list of reputable lenders that provide outstanding mortgage lending services I would be most happy to assist you.
Figure Your Finances
Keep your debt load to a minimum. Don’t make major purchases or incur any additional debt until after your purchase. Pay down credit cards and don’t apply for new ones. Make your payments on time! Remember, financial institutions evaluate your financial situation on your gross monthly income. Your total monthly house costs should not exceed 28 percent of your gross monthly income. A qualified mortgage lender will assist you in choosing the right financing program that best fits your needs. Ask questions! Never assume that a Lender or a Realtor knows everything about you and your needs unless you tell them and ask the pertinent questions!
Be Ready to Respond Quickly
Be prepared to view new properties quickly. Sometimes homes sell quickly, so be ready to make fast decisions if you find the home that is perfect for you!
Have instant access to your Realtor. Instant communication can mean the difference in purchasing the property of your choice.
Do Your Homework
Hire an inspector. A professional building inspector will make help you make informed decisions about the property so that you can be assured that the home of your choice is in satisfactory condition before you close and become the legal owner.
Check zoning regulations and covenants.Good residential neighborhoods will be zoned to keep out commercial and industrial users. Read any restrictive covenants and make sure they fit your lifestyle.
Request an updated property survey. Be sure it clearly marks boundaries. Check for problems.
Prepare a Smart Offer
Submit a strong competitive offer.
Include a substantial earnest money deposit. Sometimes offers are accepted based on the amount of the deposit.
Try to minimize the number of contingencies. Fewer contingencies mean a stronger offer.