How Buyer Tips by Phillip Baiz and Nikki Nguyen of the Win Win Team at Keller Williams Realty Sacramento 916-234-3236
You’ve made up your mind to purchase a new home. You’re tempted to start looking at online listings to get a feel for the types of houses that are currently available. Before you give into those real estate temptations, there are a few crucial tips you need to bear in mind.
Know your Purchase Power
Before you even start looking at houses know how much your lender will pre-approve you for. Getting your heart set on a listing you can’t afford will taint your entire home buying journey. Keep in mind that there is usually negotiating room on a listing price, but try not to look at homes more than 10% above your pre-approved mortgage amount.
Decide what you are looking for
Write a list of your home search criteria. Decide on your preferred neighborhood, if you want a pool, how many bedrooms you want and how many baths. You may need to compromise on your wish list during your home search, but when meeting with top real estate agent in your area, they will help you establish your wants from your needs.
Once you start negotiations with a home seller, make sure all conversations happen with your real estate agent and the home seller’s agent. Even if you strike up a cordial relationship with the home seller, don’t let any conversations happen without your agent(s) present. Let your agent do the talking to ensure the best deal.
Get Everything in Writing
Never agree to anything without getting it in writing. The smallest omissions can cause big problems later on. From a seller’s willingness to update bathroom faucets to an agreement to include specific furnishings in the real estate sale, every component of an offer to purchase must be in writing.
Have a Home Inspection
Home inspections are critical. A home inspector is there to spot the things you don’t know to look for, like if the chimney is in great shape or whether those little cracks in the foundation are a big deal. He’ll look for signs of water damage and check the insulation in the attic. If there are conditions that will need repair, you may be able to negotiate with the seller to drop the price. In other words, the inspection is worth every penny.
Buying a home whether you are a first time home buyer or an experienced pro, can be one of life’s most stressful decisions; however, being prepared and hiring a top real estate agent, ensures that your home buying process will run more smoothly.
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