10 STEPS TOWARDS MAKING THE BEST TRANSACTION ON A HOME PURCHASE.
HOW OFTEN HAVE WE HEARD THAT WHEN IT COMES TO REAL ESTATE TIMING IS EVERYTHING .
HOW OFTEN HAVE WE HEARD THAT TIMING IS EVEYTHING IN REAL ESTATE.
IF YOU PLAN ON PURCHASING A HOME THIS YEAR THEN YOUR TIMING IS PERFECT. FOR MOST AREAS,IT'S A "BUYERS MARKET".THAT MEANS THERE IS AN ABUNDANCE OF HOUSES AVAILABLE AND PRICING HAS EITHER STABILIZED OR DROPPED.MOTIVATED SELLERS IN TODAYS MARKETPLACE ARE MORE APT TO MAKING CONCESSIONS.GIVING YOU THE PURCHASER MANY OPTIONS.THE SPRING AND SUMMER SEASON HISTORICALLY HAVE BEEN THE PRIME TIME IN HOME SALES.READ TODAYS STEPS 1-5 AND BE ON YOUR WAY TO A BETTER AND SMOOTHER TRANSACTION.
STEP 1
GET PREAPPROVED NOT JUST PREQUALIFIED.THIS WILL GIVE YOU PEACE OF MIND TO SHOP WITH CONFIDENCE.DETERMINING YOUR DOLLAR LIMIT AND DECIDING HOW MUCH YOU WANT TO PAY MONTHLY IS CRUCIAL . MOVING INTO TOO MUCH HOUSE IS A COMMON MISTAKE SOME PUCHASERS MAKE. OWNING A HOME BRINGS STABILTY,EQUITY AND MANY TAX ADVANTAGES.IT SHOULD NOT COME QAT THE EXPENSE OF A GOOD QUALITY OF LIFE. TO SIMPLFY THINGS ,LEAVE A LITTLE ROOM FOR LIFES CURVEBALLS.
STEP 2
DO YOUR HOMEWORK AND PUT IT IN WRITING.
DOING YOUR DUE DILIGENCE WILL HELP YOU ZERO IN ON THE RIGHT HOME.THIS WILL ENABLE YOU TO UTILIZE YOUR TIME RESEARCHING HOMES THAT ARE BEST SUITED FOR YOUR NEEDS. MAKE A WISH LIST OF ALL THE ITEMS THAT ARE IMPORTANT IN THE FINAL DECISION PROCESS AND WRITE THEM DOWN.IF YOU ARE PURCHASING WITH A SPOUSE HAVE THEM MAKE A SEPARATE LIST AS WELL.ONCE YOUR LISTS ARE COMPLETE TRY TO CONDENSE BOTH LISTS INTO ONE.DISCUSS THE ITEMS THAT ARE TRANSACTION BREAKERS AND THE ITEMS THAT MIGHT CARRY LESS IMPORTANCE.REMEMBER ,UNLESS YOU ARE BUILDING FROM THE GROUND UP,VERY RARELY ARE YOU ABLE TO FULLFILL OUR ENTIRE WISH LIST.
STEP3
AREA STUDY
WHEN CHOOSING AN AREA,SPEND SOME TIME DRIVING THROUGH THE NEIGHBORHOOD.STOP INTO THE LOCAL STORES AND DO A LITTLE COMPARISION SHOPPING.CHECK OUT YOUR LOCAL POINTS OF INTEREST,PARKS,GYMS,RESTAURANTS. STOP BY THE SCHOOLS AND HAVE A CHAT WITH AN ADMINSTRATOR. IF YOU COMMUTE ,IT WOULD BE WISE TO DO A TRIAL RUN DURING THE HOURS YOU WILL BE DRIVING. A GREAT SOURCE OF INFO IS A LOCAL PAPER. GET THE INSIDE SCOOP BEFORE MAKING THAT IMPORTANT DECISION.
STEP4
HIRE A PROFESSIONAL
OF ALL THE STEPS,THIS ONE IF THE MOST IMPORTANT. BE SURE TO WORK WITH A PROFESSIONAL REAL ESTATE AGENT!!! A PROFESSIONAL AGENT SHOULD BE A GREAT LISTENER,BE VERSED IN ALL ASPECTS OF THE TRANSACTION,AND BE ABLE TO GUIDE YOU THROUGHOUT THE ENTIRE HOME OWNING PROCESS WITH PATIENCE AND EMPATHY.ASK YOUR POTENTIAL AGENT IF THEY ARE FULL OR PART TIME.MY PREFRENCE WOULD BE TO WORK W/ ONLY FULL TIME AGENTS.DURING THE COURSE OF THE DAY THERE IS PLENTY TO ACCOMPLISH. A CAREER IN REALESTATE IS A LIFESTYLE.CHOOSE SOMEONE THAT TAKES THEIR CAREER SERIOUSLY.
STEP5
DON'T DISCUSS THE NEGATIVES.
WHEN YOU ARE PREVIEWING A POTENTIAL HOUSE,DON'T TRASH IT!.IT IS A MISCONCEPTION THAT HARPING ON THE NEGATIVES WHILE WALKING THROUGH A HOUSE WILL PUT THE SELLER ON THE DEFENSIVE. I HAVE SEEN MANY OCCASIONS WHERE THIS TACTIC HAS BACKFIRED.ONCE YOU HAVE DECIDED THAT YOU ARE READY TO TENDER AN OFFER,DO A QUICK LIST OF THE ITEMS THAT NEED UPDATING AND THEN WITH YOUR OFFER EXPRESS YOUR CONCERNS TO THE AGENT.MOST HOMEOWNERS ARE AWARE OF NECESSARY UPDATES THERE HOME MIGHT REQUIRE. YOU ARE MORE LIKELY TO ACHIEVE YOUR GOAL WITH KINDNESS.
STEPS 6 - 10 WILL BE AVAILABLE TOMORROW..PLEASE FEEL FREE TO CONTACT ME DIRECTLY WITH ANY QUESTIONS YOU MIGHT HAVE..718-981-3400 . BEST OF LUCK! RON MOLCHO
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