8 Important Tips From The Real Estate Pro's:
Follow these 8 important home buying tips to help you find the right home for your budget, saving you time and money. We hope this list helps you on your next home purchase.
#1: House hunting is a part time job.
Home shopping needs to become somewhat of a part time job for the near future. Weekends and days off are great times to schedule visits to look at properties.
#2: Look at several houses – make offers.
Be prepared to look at 4-6 homes each weekend and be ready to write offers on half of them. Don't sit on the sidelines waiting to get in the game while others are writing offers and buying homes.
#3: Multiple short sale offers.
Short sales are getting approved faster. Many successful first time home buyers are getting short sale offers approved. The tip is to submit offers on several short sales, not just one.
#4: Keep your options open.
It happens, you find the perfect home for the perfect price and you fall “madly in love”. It's a sellers market right now, and chances are you will be bidding against other home buyers who will also want the same house. If you are overly attached you could find yourself paying more for the home than it is worth.
#5: Don't use a part-time Realtor.
Avoid Realtors that sell real estate on the side or as a hobby. If you do not already have an agent, you may want to consider starting with our Real Estate Concierge Team. Our full time real estate team always starts by building you a custom profile of your desired property criteria including all of your wants and needs. From there, they work with you to build your personalized home search by desired locations, price range, square foot, year built, number of bedrooms, number of bathrooms, lot size, etc. Depending on your personal criteria, they make it as simple, or detailed, as you like. As you decide on options and provide feedback about your likes and dislikes, our team will narrow down the search to meet your preferences. You can then use this information as a shopping tool and drive by for a peek at your leisure.
#6: Don't feel trapped.
Don't feel trapped if you are working with a Realtor that is not getting the job done. If it ever feels like your agent is not listening, or servicing you, don't feel trapped. Simply try another agent, or try our Real Estate Concierge Team. Often times “sales professionals” forget their duty is to you, and not themselves. Some Realtors will only show the homes that they have listed for sale so they can make a commission on both the listing side and the selling side of the transaction. In addition, they seem to focus on showing houses where the seller is offering a larger than normal commission. Be aware that these conditions do exist and proceed with caution.
#7: Don't sign a buyer's representation agreement.
Don't sign a buyer's representation agreement. Until your potential Realtor has answered all 10 of our secret questions without bringing up any potential concerns, don't sign an agreement. Additionally, the Realtor's commission rebate of 1% to be used towards closing costs should be documented on this agreement.
#8: Look past the obvious incentives.
Never get trapped into using only the Builders' finance company. Many builders have their own mortgage companies and want you to use their mortgage company so that they can control the purchase process. Many times, they will offer “extra incentives” to use their financing, but the incentive will not be available if you use your own lender. These incentives might sound great, but you could end up with a higher interest rate and the incentive might end up costing you several thousands of dollars in finance fees.
Are you ready to move forward with a purchase or refinance? Please give us a call at 888-810-1459 and let us help you secure financing for the purchase of a new home or save you money on the refinance of your existing home. Be sure to ask your loan officer about our closing costs incentives and our low rate guarantee!
Disclaimer: The information contained in this article has been prepared by an independent third party and is distributed to consumers for educational purposes only. The information is considered reliable but not guaranteed to be accurate. The opinions expressed in this article do not represent the opinions of Skyline Home Loans. Please consult with a licensed Realtor for expert advice regarding the purchase of a home.