What are the top 8 tips buyers should know when buying a home in Stamford CT 06902? There are more, but these are my favorites that can save you time, money and energy as you search for your home.
1. Prices are at a market low and values are moving quickly. When you find your "dream home", before you make an offer, your Realtor should complete a thorough analysis (much like the appraiser for the bank will do) of comparable homes in the surrounding neighborhood that have sold within the last 90 days. This will save you dollars.
2. Home inspections are very important and I strongly recommend all buyers have one completed on the property they are considering purchasing - BEFORE you sign the contract. A thorough inspection will identify potential hidden issues that will bring costly repairs after the closing.
3. Get a survey on the property you are purchasing. In more than a few homes for sale in Stamford share driveways and have wooded yards. If this is the case, you want to know beyond a shadow of a doubt, to whom the Chinese Maple tree belongs. Know your property lines and insure that you know what you are purchasing when buying a home in Stamford.
4. Making a low-ball offer can discourage the seller from negotiating with you. Again, after following tip #1 - you know the value of the home and your agent has done their homework. You want to start off neogotiations in a positive light. It's your agent's job to present the offer with supporting documents on why your offer is the best one for the seller to consider. Numbers don't lie.
5. Get pre-approved for a loan prior to making an offer. Yes, you should be pre-approved by a lender or else the seller will not think you are a serious buyer. Serious buyers have supporting documentation that prove they are ready, willing and able to purchase the home.
6. Complete all of the necessary building, title examinations and inspections. Take the time to make sure that you know what you are buying, insure that your attorney does a complete title search to make sure there are no liens against the property and that the individual on the listing actually has the right to sell the property.
7. Work with a buyer’s agent. When buying a home in Stamford CT you might be tempted to forgoe working with a buyer's agent thinking you are saving money on the commission, when actually the commission is paid by the property owner and already contractually committed to by the seller when it is listed on the multiple listing service. By forgoing a buyer's agent, you've only doubled the listing agent's commission.
8. Purchasing a For Sale by Owner property or other real estate without the use of a real estate professional and attorney. BUYER BEWARE. Realtors have studied, passed an exam on policies, procedures and CT state law in order to practice. Why forgo working with a professional and having the benefit of representation when it does not cost you anything?
These are a few things that you should be aware of when purchasing a home. Thinking of buying a home in Stamford? Click below for more information:
Not ready to buy? Here's a list of available rentals in Stamford CT