Home Buying Tips
Whether you're a first- or many-time buyer, we think you'll find the following tips helpful in getting the home you want. Remember, buying a home is probably the biggest purchase you will ever make. Take your time, be careful, and do your research.
- Closely examine the property "fact sheet" – Make sure the floor plan, number of bedrooms/bathrooms, and storage space fit into your needs.
- Ask Questions – Ask to see copies of utility bills and tax assessments. Find out about the schools. Inquire as to what furniture and appliances are being left behind.
- Find out why the home has not been sold – Ask how long it’s been on the market. Look for potential drawbacks. Is the home overpriced?
- Become a "pre-approved" buyer – Different from a “pre-qualified” buyer, pre-approved buyers instantly provide credit worthiness to sellers. If you put yourself in the seller’s shoes, you would only want to deal with serious buyers.
- Be flexible in terms of viewing a prospective home – If a seller takes the time to pick up the phone to call you, make every effort to accommodate their needs. Besides, you will want to see the home in the best possible light, and viewing it when the seller is ready will leave you with a good impression.
- Create a "buyer profile" – Even a simple piece of paper shows sellers that you are serious about purchasing a home. Use the profile to explain who you are and why you are interested in changing homes. This can be helpful in letting sellers know you take this transaction seriously.
- Find out what the earnest deposit amount is – If you are certain this house is for you, offer to deposit more than they are asking. When sellers are confronted with multiple offers, a higher deposit can make your offer stand-out above the others.
- Don't complicate the deal – Minimize, or if possible, eliminate contingencies based on the sale of your own home. You may want to discuss with your mortgage company the use of a bridge loan so you don’t have to pass up an opportunity.