Searching For A Home?

 

Be Prepared & Flexible

Are your dream homes seeming to always get snatched up before you can blink? Then don't wait until you find a home to decide its time for loan shopping. Keep your preapproval letter, as opposed to a basic prequalification letter. Know your neighborhood choices before you shop. Line up an action-ready inspector for an immediate property visit. Have your agent ask what the sellers would value most in the sale. If you can accommodate a fast settlement or short-term, rent-back condition or fewer contingencies and conditions, that can make you stand out when that dream home is hanging in the balance.

 

Buying A New Home

Get what you pay for. Builders are cranking production to pre-recession levels. But some are cutting corners by hiring untrained help, not waiting for concrete to cure, painting walls without primers or quietly substituting cheaper materials such as a lower grade of countertop granite, or installing inadequate plumbing or HVAC units. Consider hiring an independent inspector to oversee construction. Don't wait for builders to tell you they'll hire one. And, be sure the builder is established and that you research online reviews, complaint pages and consumer ratings. Ask specific questions about the crew's experience and certifications.

 

Don't Go Overboard

A bidding war might cause the asking price to increase more than you expected, but paying an inflated price can make it tough to resell when prices stabilize or sink. A decision to pay a premium isn't always an errant one, though, when you plan to live in the house long term. Rather than focus on overheated developments, look at comparable homes in neighboring areas with the same access to the schools and amenities that you value. Set a bid ceiling, and try to have a few other deals in the works so you're less inclined to overbid.

 

Beware Hidden Costs

When is a $200,000 house not a $200,000 house?

Answer: Always! Consider these and other closing costs when buying:

• Origination fees

• Home inspections

• Property taxes

• Appraisals  

• Private mortgage insurance, or PMI

 

 

 

Selling Your Home?

 

Make The Home Available

Many  sellers create restrictions on when the home can be shown, not knowing that the being inflexible hurts their chances of the home being sold. The home should be openly available to view during daylight hours as much as possible. Staying open and flexible gives you greater options on a buyer making  an offer on your home rather than choosing to move on somewhere else.

 

Make The Home Move-In Ready

Doing whatever you can to make your home ready for a move-in helps you more than you may realize. Anything that may be an eyesore, needs replacement, or even a few simple updates to landscaping can make a great difference on the impression buyers will have of your home.

 

Communicate

The agent should always work with your best interest in mind, but they cant help you if they do not know your problems. Make sure to sate all concerns you may have about the market value of the home, scheduling showings, and how they home will be marketed. Effective communication eliminates any room for error and provides you with the knowledge needed to remain stress free during this busy process. 

 

Mistakes Of Selling Your Home Without a Realtor?

 

The Price Isn’t Right

While location might be the home buyer’s mantra, as a home seller, that’s one variable you really can’t change. Instead, the key factor to selling your home in a reasonable amount of time is pricing it correctly, which isn’t nearly as easy to do as you might think. Sure, you can go online and see what nearby homes have sold for, but are you really comparing apples to apples here? An experienced Realtor will be able to perform a detailed market analysis which not only takes into account your home’s condition and any improvements you might have made, but can generate an up-to-the-minute temperature reading of just how hot (or not) your local market really is.

 

You Don’t Want To Waste Your Time With Bargain Hunters

If you’re acting as your own sales agent, how do you decide who’s a legitimate buyer and who’s just going to be wasting your time? Seller’s agents have the necessary tools to determine whether a buyer is pre-qualified with a home loan sufficient to cover the cost of your listing. What’s more, FSBO homes are more likely to appeal to the type of buyer who’s out for a rock-bottom bargain-basement deal and may even go so far as to want you to give them a cut of the commission you’re saving by foregoing a Realtor’s services.

 

They Can’t Buy It If They Can’t See It

One thing you might not be taking into account as a potential DIY home seller is just how available you’ll need to be in order to show your home. Are you really going to be able to call in sick or cancel your plans every time someone wants to look at your home? Potential buyers aren’t going to want to work around your convenience. A professional Realtor, however, doesn’t need to take a day off work in order to show your home, since this is his/her job.

 

Having An Agent Makes Everything More Simple and Convenient

If you’re willing to put up with all the headaches of listing, selling, and closing on a home, and you don’t mind settling for what may well be a lower price, then an FSBO sale may be for you. If, on the other hand, this all sounds like too much work for too little payoff, you’re in good company. It seems that a majority of all FSBO sellers eventually wind up choosing to sell their homes by using an agent instead.