So, you think you've found "the one"... The house that you want to become home. The place where you'll enjoy the happy and the sad.... celebrate the highs and mourn the lows.... highlight the charms and curse the not so charming. So, how are you going to make it reality??
Here are a few suggestions:
1. GET preapproved. And I mean, REALLY preapproved with a LOCAL lender. Connect with someone within the market you're buying who sits down to explain the process and review your actual financial records.
2. KNOW your numbers & financial expectations. How much will you be putting down? How much will you need to bring to the table to close? Do you know how much you'll need out of pocket to get inspections done or apply for your mortgage? Did you know that a good faith deposit is required? What amount is customary for our market? Will you need seller concessions? And finally, what kind of mortgage are you using? Buying a house is a big deal. You should understand what will be financially required of you BEFORE pursuing ownership of a place.
3. LEARN about the market. How long do homes typically stay on the market? What can you expect your money to buy in terms of location and condition within the subareas of your market? What is the average sale:list price? This information is imperative to successful negotiations. Real life real estate is not like we see on television. And real life real estate involves two sides of wants and needs. Yes, it is a highly emotional business, but always remember, it IS a business. Can you justify your offer that is significantly below list price?? The right Real Estate agent should/will/can advise you in this area.
4. DO work with a Real Estate Professional. And do this BEFORE you go "house hunting". Having your own agent can help you with #1, 2, and 3 and most importantly with making that over-arching goal of making "the one" YOUR home sweet home, a reality. Don't be shy about interviewing various agents and finding one that you trust and enjoy being around (because you'll be together a lot during the process; it should be enjoyable!). Remember, the one on the sign works for the seller. Having your own buyer's agent does not cost you added money and actually can SAVE you time, money & hassle during the home buying process.
Focus on finding "THE" agent and THEN work on finding the address to become home.
You'll be happy you did.
Agent Brenda
Brenda Mayette, Licensed Real Estate Salesperson
