Buying the Best House for Your Money
Get "Pre-Approved" - Not "Pre-Qualified!”
If you don't have a personal lender, please learn about Susan Furr Kirk and CommunityOne Bank. She will be happy to asisst you with your mortgage needs.
Sell Your Property First, Then Buy the House
If you have a house to sell, sell it before selecting a house to buy! Contingency sales aren't nearly as strong as one that comes in with a ready, willing, and able buyer. Consider this scenario: You've found the perfect house - now you have to go make an offer to the seller. You want the seller to reduce the price and wait until you sell your house. The seller figures that this is a risky deal, since he/she might pass up a buyer who doesn’t have to sell a house while their waiting for you. So he says OK, they'll do the contingency but it has to be a full price offer! You have now paid more for the house than you could have because of the contingency, and you have to sell your existing house in a hurry! Otherwise, you lose the house! Therefore, to sell quickly you might take an offer that's lower than if you had more time. The bottom line is that buying before selling might cost you thousand of dollars.
Go window-shopping . . .
If you're concerned that there is not a house on the market for you, then go on a window - shopping trip. You can identify possible houses and locations without falling in love with a specific house. If you feel confident after that then put your house on the market. Another tactic is to make the sale "subject to seller finding suitable housing". Adding this phrase to the listing means that when you do find a buyer, you will have some time to find the new place. If you don't find anything to your liking, you don't have to sell your present home.
Before House Hunting . . .
Play the Game of Nines before house hunting; make a list of things you want in the new place. Then make a list of the things you don't want. You can use this list as a guide to rate each property that you see. The one with the biggest score wins! This helps avoid confusion and keeps things in perspective when you're comparing dozens of homes. When house hunting, keep in mind the difference between "style and substance". The substance are things that cannot be changed such as the location, view, size of lot, noise in the area, school district, and floor plan. The style represents easily changed surface finishes like carpet, wallpaper, color, and window coverings. Buy the house with good substance, because the style can always be changed to match your tastes. We always recommend that you imagine each house as if it were vacant. Consider each house on its underlying merits, not the seller's decorating skills.
Don't Be Pushed . . .
Don't Be Pushed Into Any House - Your agent should show you everything available that meets your requirements. Don't make a decision on a house until you feel that you've seen enough to pick the best one. Earlier, homes were selling quickly, usually a few days after listing. In that kind of market, agents advised their clients to make an offer on the spot if they liked the house. That was good advice at the time. Today there isn't always this urgency, unless a home is drastically under priced, and you'll know if it is. Don't forget to check into the school districts of the area you're considering. Information is available on every school; such as class sizes, percentage of students that go on to college, SAT scores, etc. You can get this information from this web site.
Stop Calling Ads!
Please note - ads are sometimes created to make the phone ring! Many of the homes have some drawback that's not mentioned in the ad, such as traffic noise, power lines, or litigation in the community. What's not mentioned in the ad is usually more important than what is. For this reason, I want you to be very careful when reading ads. Remember that the person writing the ad is representing the seller and not you! The most important thing you can do is have someone on your side looking out for your best interests. I’ll help you analyze the property with an eye towards how well it meets your needs and will point out any drawbacks you should know about. Therefore, whether you decide to work with me or one of my team members, pick an agent you feel comfortable with and enlist the services of that agent as a buyer's agent. Then you become a client with all the rights, benefits, and privileges created by this agency relationship, and you're no longer just a shopper. Did you know that many homes are sold without a sign ever going up or an ad ever being put in the paper? These "great deals" go to those people who are committed to working with one agent. When an agent hears of a great buy, who do you think he or she is going to call? Their clients, who they have a legal obligation to work hard for, or someone who just called on the phone and said, "keep your eyes open"?
Therefore, to get the best buy on a property, I always recommend that you hire your own agent and stick with him or her.
Thank you for choosing to visit EstelleBrown.com, visit often for the best views of Lake Norman real estate and contact me when you're ready.