The Main Ingredients in a Successful Home Purchase

By
Home Inspector with H.I.S. Home Inspections (Summit, Stark Counties)

  Buying the home of your dreams should be a smooth process, with a minimum amount of stress and worry. However, it seldom is. Most of the time, there are complicated issues to address, or re-negotiations, which can sometimes leave a homebuyer pulling his/her hair out, and wondering why they ever wanted to move in the first place.

If you are trying to buy from a bank, trust, or holding company, things can get even worse, especially if it is a distressed property, or a bank repo.

So what can you do to help make the process as painless as possible? It starts with assembling a knowledgeable team. Let's explore what you need:

1. Your REALTOR is key! He/she should be knowledgeable in the type of property you are interested in, and have experience in that area. Realtors, like doctors, can have specialty areas, in which they are well versed, know the ins and outs, and can successfully guide you (the inexperienced home buyer) through the selection and purchase process. For instance, negotiating with a bank, or HUD is different from negotiating with a home owner, or a trust. If you know what you are looking for, look for the right realtor for the situation. Your realtor should not be just concerned with completing a sale and getting a commission check, but should be willing to work with you and counsel you, and work toward getting you the property you are looking for.

2. Your HOME INSPECTOR is also a key player. He/she can be a most valuable resource in giving you the facts about your purchase. Even if you are buying a repo, it is best to get a complete home inspection so that you can make an informed decision, and know exactly what you are getting into. Home inspectors come from all walks of life. Some have a lot more experience than others in fields related to a home and it systems. Home inspection schools are good, and do a great job, but they are no subtitute for experience. Don't be afraid to ask your home inspector what experience he has, and how long he has been in the business, and/or related fields. The best home inspectors have formal training, and related field experience as well. A good home inspector should be able to point out the positive and the negative aspects of the home you are buying, as well as direct you to any other professionals that might be needed.

3. Getting PRE-QUALIFIED through a qualified lender is also a key step in having a smooth sales transaction. If you know what you can afford, and approved for in advance, there won't be any disappointment, or misunderstanding.

4. Find out or estimate what your MOVING EXPENSES ar going to be. After purchasing a home, coming up with the down payment, paying for a home inspection, the added expense involved with moving can be a major stress. You should have a mover estimate what it will cost, (or the expense of a moving truck) including boxing up belongings. Other typical expenses are: extra people to help you, getting utilities turned on, and/or deposits if required, cleaning of the new property (carpets, walls, floors, windows, etc.), any deferred maintenance items the previous owner may have left for you, such as cleaning the furnace, painting the shed or the trim, etc., cleaning out gutters.

5. Call your City or County planning offices, and ask if there are any immediate or long range plans for the area your new home is in. Call the County tax office as well, (or look it up online if your county has that capability) and ask when the property was last assesed, and if there are any plans to change or raise the tax base. If your home is located on a state route (like mine is) then you should also make a call to the state highway division, and ask about their long range plans for the area ( I just found out they are going to be widening my road within the next 5 years, and they will be taking approximately 60 feet of my front yard....less to mow). The best surprise is no surprise.

Although this is not all that will be required in every instance, it is a good start to where you want to be: in your new home!

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Cheryl Willis 10/28/2008 07:58 AM
Topic:
Home Buying
Location:
Ohio
Groups:
Realtors®
1st Time Buyers
Home Inspector's Corner
AR My Name is Cheryl
Tags:
home buying tips
home consultation
home consulting

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Charles Buell
Charles Buell Inspections Inc. - Seattle, WA
Seattle Home Inspector

Kevin, good list.  I wonder what percentage of buyers forget the whole business of what it takes/costs to actually move?  I know we all would like to forget about it:)

Oct 27, 2008 05:51 AM #1
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TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

Great list Kevin. There is more to purchasing a house than what most people realize...

Oct 27, 2008 09:25 PM #2
Rainmaker
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Kevin Corsa
H.I.S. Home Inspections (Summit, Stark Counties) - Canton, OH
H.I.S. Home Inspections, Stark & Summit County, OH Home Inspector

Nothing like being broke the day after you move in... right?

Oct 28, 2008 05:42 AM #3
Rainer
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No Longer Active in Staging. No Longer Staging
Hickory, NC

Hi Kevin, this is a very thorough list, you might add insurance agent. It can be helpful to get an estimated quote for the size home, etc that you are looking for. At least that can help with estimated closing costs. God bless,

Oct 28, 2008 07:06 AM #4
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Kevin, Good information for buyers. I hope buyers who read it will call you.

Oct 28, 2008 07:13 AM #5
Rainmaker
179,897
Jack Gilleland
Home Inspection and Investor Services, Clayton - Clayton, OH

Good Blog Kevin.  Home buyers should read it and take it to heart.

Jack

Oct 28, 2008 03:40 PM #6
Rainer
654,274
Baker Home Inspection and Commercial Properties Inspections
Baker Residential and Commercial Properties Inspections - Springfield, VT
Home and Commercial Properties Inspections Vermont

Hey there and afternoon Kevin
Kevin, I'm sure hopping my comment finds everything is going well for you!

Oct 05, 2011 09:08 AM #7
Rainer
654,274
Baker Home Inspection and Commercial Properties Inspections
Baker Residential and Commercial Properties Inspections - Springfield, VT
Home and Commercial Properties Inspections Vermont

Hey there and afternoon Kevin
Kevin, I'm sure hopping my comment finds everything is going well for you!

Oct 05, 2011 09:10 AM #8
Rainer
654,274
Baker Home Inspection and Commercial Properties Inspections
Baker Residential and Commercial Properties Inspections - Springfield, VT
Home and Commercial Properties Inspections Vermont

Hey there and afternoon Kevin
Kevin, I'm sure hopping my comment finds everything is going well for you!

Oct 05, 2011 09:11 AM #9
Rainer
654,274
Baker Home Inspection and Commercial Properties Inspections
Baker Residential and Commercial Properties Inspections - Springfield, VT
Home and Commercial Properties Inspections Vermont

Hey there and afternoon Kevin
Kevin, I'm sure hopping my comment finds everything is going well for you!

Oct 05, 2011 09:13 AM #10
Rainer
654,274
Baker Home Inspection and Commercial Properties Inspections
Baker Residential and Commercial Properties Inspections - Springfield, VT
Home and Commercial Properties Inspections Vermont

Hey there and afternoon Kevin
Kevin, I'm sure hopping my comment finds everything is going well for you!

Oct 05, 2011 09:15 AM #11
Rainer
654,274
Baker Home Inspection and Commercial Properties Inspections
Baker Residential and Commercial Properties Inspections - Springfield, VT
Home and Commercial Properties Inspections Vermont

Howdy and evening Kevin
Kevin, I was just checking to see if you might have returned to post some new blog posts. I sure do really hope things are going well for you and your mighty fine family!

Dec 14, 2011 10:30 AM #12
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Kevin Corsa

H.I.S. Home Inspections, Stark & Summit County, OH Home Inspector
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