DON'T START LOOKING FOR A HOME BEFORE YOU READ THIS!

By
Real Estate Broker/Owner with Lizette Realty - Richmond KY 205403

1.Find a REALTOR whom you can relate to. Buying a home is an emotional commitment. It's critical that the agent you choose is both skilled and a good fit with your personality. Have your own agent show you homes, not the listing agent. Call your agent if you see a home you want to tour. Your Realtor will make all the appointments and represent YOU in the offer. The listing agent represents the seller and cannot disclose all that you will need to know about the property & the seller. Find an agent that makes his or her career full time in real estate. Agents usually know one another so if you are unhappy working with an agent and want to change to another please let them know that you will be doing so. This alleviates miscommunications and it's just the right thing to do. An agent will work hard for you if you are loyal.

2. The right house is waiting for you. Sometimes deals just don't work out. You will know as soon as you walk into the perfect home. Everything will fall into place perfectly if it is meant to be. If not...keep looking and stay open to new ideas. If it feels right then make an offer...don't procrastinate.

3. Commission is paid by the sellers. This is how your agent gets paid. Basically, the seller has agreed with his listing agent an amount to pay the buyer's agent at closing. Your agent may show you homes for a long time or it might only be a few homes. All negotiated commission is divided among the agents at closing. The buyer will not have to pay for this.

4. Don't ask for too many opinions from friends and family. It's natural to want reassurance for a big decision, but too many ideas will make it harder to make a decision. If Grandpa is not going to live in the house he isn't going to like all those steep stairs, pool, etc. Negative opinions can spoil all your excitement.

5. Accept that no house is perfect. Focus in on the things that are most important to you and let the minor ones go.

6. Don't try to be a killer negotiator. Trying to "win" by getting an extra-low price may lose you the home you love. Angry sellers do not try to be helpful if you need special considerations later before closing like extra time to get the financing right. Don't be stubborn over the small stuff.

7. Get approved for a mortgage before you find a home. A good lender will see your credit report and offer help in disputing items that need to be removed. This will raise your score and possibly get you a lower interest rate. Not all lenders are skilled in this. Same as with your agent the lender needs to fit with your personality and return your calls promptly. The best ones stay in close contact with your agent also. You can bet that your agent has a good idea of the best lenders to work with to get a successful closing. It can all fall apart by closing time if you don't have the right lender.

8.Factor in maintenance and repair costs in your post-home buying budget. Even in a new home there will be some costs. Homes are not perfect and even though you have had many repairs made after a home inspection sellers are not going to patch every hole in the walls and leave it
spotless. You may have to shampoo carpet and upgrade fixtures to your liking. It's all a part of buying a home.

 

Disclaimer: The opinions expressed by The Activerain Network and it's members and those providing comments are theirs alone, and do not reflect the opinions of Lizette Fitzpatrick and Prudential Don Foster Realtors. Lizette Fitzpatrick and Prudential Don Foster Realtors are not responsible for the accuracy or content provided by The Community.

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Rainer
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Bob Sloop, Consultant, Indianapolis, IN
RS Mortgage Consulting - Indianapolis, IN

Lizette, You did it, awesome blog.  Good first post with great information.  I hope to see more here, WELCOME TO ACTIVE RAIN.  Take care and have a great time here.  Your going to meet many people here that share the same values as you do, its an exciting adventure.  Have a great day. 

 

Mar 14, 2007 12:24 AM #1
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Lizette Fitzpatrick
Lizette Realty - Richmond KY - Lexington, KY
Lizette Realty, Lexington KY MLS - Kentucky Homes
Thanks for your support! This really IS an adventure!
Mar 16, 2007 02:46 AM #2
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Teri Eckholm
Boardman Realty - White Bear Lake, MN
REALTOR Serving Mpls/St Paul North & East Metro

Perfect first post...Welcome to AR! Good Job!

Still kind of new myself and learning...Here is a good post someone set me with AR tips

Welcome Wagon - A newbie manual to Active Rain 

Mar 16, 2007 04:48 AM #3
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Lizette Fitzpatrick
Lizette Realty - Richmond KY - Lexington, KY
Lizette Realty, Lexington KY MLS - Kentucky Homes
Thanks Teri! I could sure use some tips!
Mar 22, 2007 12:18 PM #4
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