Tips for Home Buyers

 

Buyers deserve a plan that provides clarity and confidence.  The buyers with whom I've had the privilege to work are confident they have seen it all. Positioning buyers to win in multiple-offer scenarios has become increasingly important with the recent shift to a seller's market. I use a proven strategy that puts buyers in a position to win.

 

Here are some tips to help you get started with the process:

1.  Get Your Financing In Place

An important part of the process is discussing your financing options with a mortgage professional.  By doing this you can insure that you're not wasting time looking at houses that you cannot afford or not setting your heart on a house that isn't an option.  Make sure you have pre-approval from your bank or mortgage professional before you get too involved in your hunt.

2.  Take Your Time and Tour

Everybody has a different timeline for their purchase.  I have had clients look for many months, and I have had clients purchase the first home they saw.  Everyone is different.  Often it will depend on what type of market you are buying in (seller's market vs. buyer's market), but take your time.  Do not rush into a purchase, and do not settle for just any home.  This is a big deal, and you should plan on being patient and making the right decision.

3.  Identify Your Needs and Wants

Another important step early in the process is your home-buying planning. What home features are "nice to have" and what are "show stoppers"? Your needs should be identified before you spend time looking at houses. Take your time, and make sure you share your plan with your Real Estate Agent and REALTOR®.  Ask me for a copy of my Features and Benefits document to help you identify your priorities.

4.  Record Your Progress

Take good notes because the more you see, the more difficult it becomes to remember the characteristics of each home. Write down what you saw, and what you did or did not like about the homes you toured. These notes can be extremely valuable when trying to assess the value of a home.

5.  Do Your Homework

You should NOT skip out on performing your own due diligence on a property.  There is critical information to be ascertained on properties, and the details can define whether or not you are making a good investment.  I will recommend that you have a property inspected, and if you are buying a condominium...that you have a condominium document review condition in your offer.  There may also be a financing condition to ensure that financing can and will be extended to you.  There are also other conditions that are important for your protection which I will recommend you include in your offer depending on the scenario of your purchase.  You need to do your own due diligence when buying a property, and you should NOT rely on the due diligence that may be provided to you by the seller.  Make sure any fact-finding is done by you.