Have you ever submitted an offer to purchase a property in which the seller did not respond?  This is an occurrence that has happen to some buyers.  Some buyers believe a seller is to respond to all offers in the order they are received, or required to respond to an offer within a set time frame, such as 24 or 48 hours.  The fact is, the seller is neither required to review or respond to any offers.  Non-response normally occurs when there is a low offer, or when the seller has received multiply offers.  As a buyer, you may want to give the seller a deadline date to respond to your offer, or after a reasonable period time, give a written notice that you are withdrawing your offer.  Communicate with your realtor on how best to handle this situation per your given circumstance.          

Many times buyers forget to think about the added value trees make to a home.  Buyer's, usually thinks about the kitchen, living space, air-conditioner, furnace and roof, but forgets about the outside, especially trees.  Trees, will affect the property value in the following ways: by the size of the trees, type of trees, condition of the trees and location of the trees based their aesthetic and functional purposes.  Homeowners, find trees to be a wise investment because they generate greater value than a non-landscaped property.  With today's rising energy costs, trees will save energy by protecting your home from the heat and reducing cooling requirements.  A well protected home may be able to save as much as 10% on the electrical bill versus a non-protected home.  Remember, trees also protect in the winter from wind by acting as a windbreak.  Knowing some of the benefits of trees, there is also maintenance issues and knowing how to properly place trees.  Depending on the type of tree, they all spread out underground, as well as above ground, therefore, proper placement of new trees in your lot is important.  Finally, tree maintenance is always important, keeping them properly trimmed is necessary to realize the greatest benefits.  Even with the extra work and expense required with having trees, they still add value to your property while you are living in your home, as well as for resale.               

After making the decision to purchase a new home, then comes one of the most important decisions in the buying process, selecting the neighborhood that fits your lifestyle and desires.  As a home buyer, there are many things you must take into consideration, such as: if you have school age children, then schools and area amenities for children are important, and many buyers without children think it is important to purchase in a good school district for resale purposes.  Another area of concern to buyers is crime statistics and the presents of sex offenders in the neighborhood.  There are tools for the buyers to use such as, sex offender data bases that buyers can access, being a friend with a police officer who can provide you crime information and area crime statistics that are available on the internet.  Another area of concern for many home buyers is transportation issues, distance they must drive for daily errands, commute to work and the availability of public transportation.  Other buyers priority, may include being near healthcare facilities, shopping centers and/or restaurants.  The main point here is, each buyer should determine their list of priorities and rank them per their desires.  In most situations, the buyer will not find all the neighborhoods will meet their home search desire criteria.  At this point, then the buyer should restrict home search to the neighborhoods that meet all or most of their desires.        

Buyers when purchasing property will have many opportunities to make assumptions that appear to be safe on the surface.  For example, the home may appear to be in great shape with no problems, such as, termite damage, chimney problems or other expensive defects that are not obvious.    Even new homes may have problems that only a professional can identify.  Making the wrong assumption and not verifying your assumption with a professional may cost you several hundred or even thousands of dollars.  Always, hire an inspector to verify the condition of home.  In some situations, it will be necessary to hire an inspector that specializes in particular areas such as: termites and crack foundations, etc.  Another area that a buyer should be careful not to make an incorrect assumptions, deals with some facets of the closing process.  Most buyers do not totally understand this process.  This portion of the closing process is normally being handled by a mortgage broker and a title company.  If you have questions or concerns, be sure to ask questions.  This is another area where your realtor can offer you great assistance and give you peace of mind.    

After your offer has been accepted by the seller to purchase your new home, then comes one of the most important steps in the buying process.   This step is the home inspection; this should be the first major task that is completed after the accepted offer.  Prior to reaching this point of the buying processed the buyer and realtor should have had a discussion and identified who will be hired to perform the inspection.  This is important to avoid delays in the remaining tasks that must completed in the closing the process.  Be sure to hire a component inspector who will evaluate the property honestly and neutrally.  The inspector should be recording his findings immediately and taking photos to support the recorded text.  In my opinion, the inspector should develop and provide the buyer a copy of the inspection report before he leaves the property.  In addition, before the inspector leaves the property the buyer and realtor should be present at the site to review in detail the results of the inspection.  In this way, if the buyer and/or realtor do not understand a portion of the report, they have an immediate opportunity to review the affected area for clarification.  This is extremely important, in order to make the correct decisions concerning repair cost and who should complete the repairs.  Normally, in this situation, the realtor and the buyer should be most concern about the big ticket items such as; damage roof and foundation, etc.   If you are buying a foreclosure, most likely the buyer has to make the decision whether to accept the property as is, or terminate the contract and move onto another property.           

Many buyers do not realize the importance of having a third party inspection on new home construction.   These people fall into the trap that the builder provides home and appliances warranties with their new construction.  This is true; there are warranties for construction of home and appliances that are included by the builder.  There are builders that do an excellent job, but unfortunately there are builders whose quality of work is less than satisfactory.  Many times builder's construction errors will outlast the warranty period provided by the builder.  The buyer needs to provide themselves greater protection for their largest investment; I recommend buyers seriously consider having a third party inspection.   There are two types of inspections: first, buying a spec home where the construction is already completed.  Here, the buyer should select their own inspector and have this inspector do a one-phase inspection of the property.  Second, buying a home to be constructed on an empty lot, recommend 3 to 6 phase inspection as the home is being built.  This requires your inspector to make multiple trips to the property in order to insure quality construction.  In finally analyst, this adds additional cost to your project, but may save you money in the future.                  

Many times when I speak with a potential home buyer,  they have neither heard of or understand the protection a home warranty provides to a homeowner.  A home warranty is an insurance policy that provides financial reimbursement for equipment failure within the home.  The policy will provide protection to such household items as: water heater, air conditioner and cooking range, etc.  When there is equipment failure the provider will evaluate the failed equipment to determine if the appliance can be fixed.  If it cannot be repaired, usually the policy will pay for a replacement including installation.  Some states request the seller to pay the premium for the first year.  After the first term, the homeowner can renew the policy for continuous coverage.  These policies normally offer different levels of coverage in which buyer/homeowner can choose from.  Most policies offer a one year term, costing from $250 to $600, depending on the options and level of coverage.  In final analysis, the home warranty is a plus for both the seller and buyer.  This allows the seller to assure the buyer that all appliances are in working condition and willing to provide financial assistance in case of equipment failure.             

When purchasing your new home, it is wise to have a general idea how long you plan on living in the home.  In addition, you need to provide yourself financial protection for unexpected emergencies, such as, loss of job or illness.  Finally, it is important to understand the cost associated with selling a home; unfortunately many home buyers do not understand this side of the equation or fail to take it into consideration when purchasing property.   Recently, many buyers of homes have experience the need to sell their home for various reasons, but unfortunately they do not have sufficient equity in their home, or available cash to go the closing table.  This leads to foreclosure, bankruptcy, and destroying their credit rating.  As a buyer, you need to be aware of the cost associated with selling your home.  Your closing costs are going to be approximately 8-9% of the sold price.  In addition, to the closing costs the seller must pay off any outstanding mortgage amounts and pro-rated property taxes.  The closing costs usually include the following:

•  Title insurance; protect the buyer so the title to the property is free of liens and encumbrances.

•  Some areas it is customary the seller pays for pest inspections.

•  On VA, FHA and conventional loans discount points may be paid by seller, but usually paid by buyer.

•  Attorney, courier and other miscellaneous fees

•  Property taxes and insurance premiums are usually collect in advance by your mortgage company.     Seller's pro-rated property taxes are collect at closing.  After closing the seller can recoup any unused insurance premiums and property taxes from their mortgage company.

•  Broker's fees.

If you are ready to purchase a new home, it is extremely important to be prepared to make a quick offer.  By making a quick offer does not necessarily mean you are trying to achieve a quick end to the transaction. Having the capability of making a quick offer means you have been pre-approved by a lender or you are a cash buyer who has a funds available statement from the buyer's financial institution.  In addition, your realtor should provide a service to immediately notify the buyer of any new properties that become available per buyer's home search criteria.  The reason this is important, it will reduce the possibility the buyer getting into a multiple offer environment for the same property.  Multiple offers are good for the seller, but usually bad for the buyer, because it tends to drive up the price to be paid for the home.   As a buyer, remember normally within the contract you are given a set number of days to evaluate your new purchase and the capability to resend the contract without serious financial loss.  During this time, be sure to evaluate the condition of the property, get a quote on insurance, and evaluate the cost of utilities.  In final analysis, sometimes it is necessary to make quick decisions in order to get the right property for yourself, but be sure you understand your contract before you start this transaction process in order to prevent yourself from serious financial lost.   

As a buyer purchasing property such as a home, it is extremely important that you have a system in place that will provide you a hard copy paper trail of all documents, e-mails and phone conversations that occur during the transaction.  Today, many buyers are using an electronic filing system, since most realtors, lenders and title companies are communication by e-mail.  The advantages of using this method are: spend, easier and requires less space.  Each real estate transaction will generate many pages of documentation.  The closing, which normally occurs at a title company or a lawyer's office, will generate the largest single volume of documentation.  The buyer is required to initial and/or sign most pages.   The closing office of the transaction will normally bind all this paper into an organize booklet for your permanent records.  You may want to scan this document into an electronic file in order to have a backup to your hard copy document.  This would combine closing documentation with all your other documents generated prior to closing.  No matter what procedure you chose to use, be sure both your electronic and hard copies are retain in a safe place, and you know exactly where the documents are located at all times.  In the future, it will be necessary to refer to these documents when selling your home, and will need them for tax purposes.