Now that you have identified your new home, it's time to go find it. Here is a place that a Realtor can add value and make the whole process easier. Have you ever been fishing in a new river? Did you read the guidebooks, then drive there, put on the waders, slap on any old lure, then go splashing right in? Spent your whole vacation doing it that way? How'd you do? Or would it be better to hire a local guide who can take you to the best spots and ensure that you get into some fish? Well, finding your next home is a little like that.
SHRINK THE POOL
I have had people tell me "we want to see EVERYTHING"... but do they really? In the last post about understanding what kind of house we're looking for, I mentioned that there were 94 homes that fit a list with broad search criteria. Do you really want to see them all? You don't have to, and winnowing out the "that's not it" houses is something your agent can help you do quickly. Despite all the wonderful websites, and all of the internet search possibilities, you will not be able to duplicate at home what a good agent can do searching for your next home with the tools available on the MLS. If you have communicated well with your agent, they should be able to cut that list of 94 down to size before they start showing you the possibles. Shrinking the pool of possibles is the first step. (And while we're doing that, let's take time to talk about the buying process. Your agent should take the time up front to explain the buying process and give you a copy of all the different forms for you to read over. I'll talk about the process in my next post, but your introduction to the forms and contract pages should be before you decide to make an offer.)
RANK THE POSSIBLES
Trust your agent to get the best "possibles" in front of you. I remember working with buyers who, after looking at what were the best "possibles", wanted to see a different part of town. I warned them that we would not find their house there, but I took the time to show them. Wrinkled noses, lots of "we'd have to change that" and "this is alot older than we wanted"... by the third house, they walked in, took a quick look, then decided they were done... "you were right, this isn't for us". That is part of our job, and when we do it well, we can save you all kinds of time, and you will be confident that you didn't miss anything.
GO FISHING
My suggestion is to sit with the agent at the computer in the office and page through the list of possibles that you have to choose from. Pick the four or five best, print them out, then jump in the truck and go see. Remember that if any of the homes on the list are occupied, you have to let your agent make a call first. The serious sellers are quite flexible about showings, but sometimes, if there is a tenant or some other situation that makes it more inconvenient you will need an appointment. As you drive to the various houses, pay attention to neighborhoods, traffic, shopping, and all the other things that surround your possible new homes. If you are like most people you have your set daily patterns and you haven't noticed a lot of the details about the other neighborhoods in your town. Listen to what your agent has to say about various things, when areas were developed, if there are any changes planned, how things are selling... in short, look at the question "what will my life look like here?" When you go looking for a house to purchase, don't just look at houses.
IS IT A KEEPER?
After you have looked at a number of homes, it can be hard to remember what you've seen, what you liked, and what you didn't. I give my clients a printout of each home we see, and I suggest they write down notes on each house, especially if they like it. I know that some agents will ask "do you want to buy this house?" after each visit. Some will ask "Would you buy this house, or the one we just saw?" The key here is to remember that we are trying to find the house >to buy<. That requires some sort of a winnowing process. However you and your agent are comfortable making this sorting process work, be sure that you do it. In the buyer's market we have now, you can safely take a little more time deciding which house is your new home. While I have heard of a few multiple offer situations, I haven't heard of any bidding wars in a long time. Making a good, unhurried decision is possible in this market. Keep your list short, with one or two "bests", and forget the rest. If you don't find it the first trip, keep the one or two best, then repeat the process another day, always with the intent of recognizing the keeper when you find it.
THE BIG DECISION
Alright, your agent has shown you a number of great houses, you've been able to narrow down the neighborhoods that are right for you, and your short list has two, perhaps three homes to choose from. Unless the choice is obvious, perhaps you will need another visit to one or another of them. I've learned from sitting open houses that sometimes your feelings about a house change after you spend a little time in them. If your choices are vacant, it might help to go back and sit around together on the livingroom floor, or perhaps the family room, or the master bedroom... spend some time sitting and just talking and looking at the home. Imagine your daily life taking place in these surroundings. You might be surprised if you try this, what you can learn about a place. If your top choices are occupied, usually the seller will be pleased to let you visit a second time (your agent will be sure to tell them) and give you a little more time in the home. Be respectful of the seller's furnishings, but it is usually permissible to spend a little extra time in a house.
When you have found the right home, what do you do next? How do you buy it? What do we have to do? And what does your agent do? I'll go over that in the next post.
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