Navigating the real-estate market can be tough. Enlisting the an expert realtor is the key to successfully buying a home. Whether you are entering the marketplace for the first time or as a repeat buyer, Andrew provides valuable insight and guidance to make the process easier and ensure the buyers satisfaction.
1. Interview- The initial interview helps you establish the right fit between you and your realtor. For the realtor it is important in determining what the buyer's goals, terms and requirements are for a successful sale.
2. Financing- Discussing financing is the next phase in buying property; available loan programs, down-payments, and mortgages is an important precursor to searching for the perfect property. A seasoned realtor will help you explore and understand all of your options.
3. Effective Offer Package Development- In order to maximize your options, a realtor will help you determine the most competitive terms and pricing you can offer as part of an enticing buyer profile. In residential property sales this often includes creating a personal narrative. Marketing yourelf as a buyer will make your offer more attractive to sellers.
3. Search Strategy Development- A realtor with an up-to-date understanding of local market trends can help narrow your priorities and develop a strategy for a thorough yet directed search. This strategy is based on your preferred methods of obtaining information whether they be through an agent, open house touring, or virtual and online browsing.
5. Identify Select Group of Premium Properties- Once the search is underway a realtor can help you narrow your options to best match your goals and limitations as a buyer.
6. Offer Execution- When making a written offer it is important that it is presented professionally and with the most competitive terms possible.
7. Negotiation- Sellers may choose to make a counter offer on your bid. Representation during the negotiation process between buyer and seller will help ensure your terms are met. An experienced agent will keep you informed throughout.
8.Enter Escrow- After financing is secured, the transfer is overseen and facilitate by a neutral party in order to minimize the risk of both buyer and seller.
9. Close Escrow- The title of the property is transferred from seller to buyer. Escrow professionals oversee the paperwork and your keys are delivered to you.
1. Get help.Your home is likely to represent one of the largest investments in your life. In order to make sure that the transaction goes smoothly it is of vital importance that you choose the right agent to represent your interests. The right agent will be someone whose experience and personality makes you feel comfortable. You should try to find an agent that is familiar and knowledgeable about the area you plan to move into.
2. Get pre-approved. Do you already know how much home you can afford? There is nothing more frustrating than looking for a home, finding the perfect home, and then discovering that it is out of your price range. Speak with a lender to learn about the different financing options available to you. When you find the right lender get the paperwork processed so that you will be ready to buy when you find the right home.
3. Avoid major purchases. In order to determine the amount of home you can afford a lender uses your debt-to-income ratio. This ratio is the percentage of your pre-tax income that you spend on debt. Your debt ratio will include: monthly housing costs, car payments, credit cards, student loans, and any other installment debt. If you take on more debt right before buying a home it is going to have an impact on the amount of the loan that the lender will finance.
4. Search for your perfect home. In order to make an educated decision you need to know what is available and how much it is going for. I can help you browse all the active listings and sign you up for automatic email of new listings as they come on the market. The best homes move fast so you need to make sure that you are on top of the available inventory at all times so you do not miss out.
5. Ask Questions. No one knows the home better than the seller of the property; however it is not always in the seller's best interest to disclose all the information. If you find out the seller's motivation for selling you might be able to negotiate a better deal on the home. Try to find out the last time service was performed on the roof, furnace, and water heating. Asking the right questions now can end up saving you a lot of money in the long run.
6. Get inspected. The last thing you want to discover after you have bought a home is that you have purchased a "money pit". By "money pit" I am referring to a home that is full of defects that are going to end up costing you a lot of money. Save yourself a lot of time in future litigation and renovation by bringing in a licensed home inspector before you buy. If any problems are found it will steer you away from a bad decision or help you negotiate a better price.