Tips For Buyers
Helpful Suggestions For Buying A Home:
Make a list -
Make a specific list of what you are looking for in a home. What are your priorities? A big backyard for the kids? A huge master bedroom? A modern kitchen? Know what you want and go after it. Also, decide where you are willing to compromise and where you aren't. This will help in your decision-making.
Get pre-approved for a mortgage -
Pre-approval lets the seller know you're serious. If you're pre-approved, you will be more likely to make a deal. Make an appointment today and meet with a Mortgage Loan Officer as soon as possible.
Don't make low ball offers -
Sellers get turned off when buyers make very low offers. Make fair offers. Work with your licensed salesperson to come up with a strategy for the negotiations.
Look past the decor -
It's easy to get turned off by a home that is poorly decorated or dirty. Use your imagination to picture. A clean and well decorated house – it could be your dream home.
What not to do -
Don't buy that new car, new furniture, new appliances, or apply for credit cards! Remember, now that you are preparing for home ownership, your monthly debt ratio can affect the monthly house payment the lender allows. Start saving right away so the lender sees as much money in the bank as possible (and as little debt)!
Frequently Asked Questions:
What does it cost as a buyer to use an agent?
The compensation that a sales agent receives typically comes from the seller's proceeds. In other words, there is no cost for a buyer to use an agent in a traditional agent/buyer relationship. In a buyer agency agreement, there may be some cost to the buyer, but even these agreements are usually worded so that the agent is compensated from the seller.
Can my agent give me information regarding properties from other companies?
Yes, if that other company is a member of Multiple Listing Service (MLS) which most real estate companies are. For Sale By Owner (FSBO) properties are not listed in MLS so an agent likely would not be able to provide information regarding them. However, with a buyer agency agreement, your agent may be able to help you purchase a FSBO.
What if I find a property on my own?
You should contact your agent instead of the property owner or the agent listing the property. Having the address or the MLS number is very helpful and will assist your agent in gathering information regarding the property.
What type of information will my agent need from me?
An agent will need any type of information regarding the property you are looking for that is important to you. For example, number of bedrooms, garage size, price, location and number of bathrooms are common criteria. Other considerations include the school district, type of home (ranch, tri-level, etc) and room sizes. Keep in mind that a search that is too specific may narrow your list of properties too much, while one that is too broad may give you more properties to look at than you have time to go through!
Can I go to open houses without my agent?
You can go to open houses without your agent. However, you need to make sure that you indicate you are working with an agent already. If you dont, your agent might not be able to help you write an offer on that property in the future.
How can I find out about new properties?
Your agent should be able to accommodate your particular situation whether it be via e-mail, phone calls, etc. Clients with e-mail capability can receive automatic updates from the MLS system as soon as new listings are entered.
Summary:
When purchasing real estate, a sales agent can be an invaluable resource if you remember your responsibilities:
1. Work with just one agent.
2. Make sure you tell your agent everything they need to know.
3. Always tell other agents that you are already working with an agent.
4. Consider your agent a friend.
We want your home buying experience to be as easy and enjoyable as possible. Our agents will do everything possible to ensure you find the home that is perfect for you.
