Short sales can offer really great deals on homes, but the process of buying a short sale property can be difficult and drawn out. If you’re willing to be patient and put in a little extra work, you could get a lot more house for your budget. Be Prepared To Be Patient Buying a short sale property isn’t as quick as a standard sale. Because the owners are attempting to sell the property for less than they owe, the sale must be approved by the bank—and in many cases there is more than one bank involved. Waiting for the full approval to come in can take months, and can fall through if one bank’s approval expires while you wait on the other. If you want to buy quickly and are looking to move as soon as possible, short sales may not be the right choice for you. Look Past The Cosmetic Many homes that are being offered as short sales have been neglected for a long time. In some cases, this is because the owner knows that there will be no profit made from the sale and has stopped caring; in others it is because the reason for the short […]
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While it may be nice to have a home with five bedrooms, an eat-in kitchen, and a four-car garage, how many of us really need this much space? The best approach is to look at a few particular aspects of your life and lifestyle to make the right choice. What Is The Size Of Your Family And Will It Grow In The Near Future? If you are a newly married couple who plan on having children, purchasing a family home with ample room to grow may be the right choice for you. Childless couples, retired couples, or singles may want to rethink the large home and opt for something a little more size appropriate. Do You Need Office Space Or Like To Entertain? If you use your home primarily to meet your daily needs, such as a place to sleep, eat, and relax, you may want to consider a home with a large den or office space and a formal dining room. Do You Plan To Stay In Your Home Long-Term? If you are just entering the housing market and plan to live in several houses or in several locations throughout your life, you really don’t need your dream home […]
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When it comes to buying a home, the ability and willingness to negotiate is a must for both the buyer and seller. In general, sellers ask for more than they are actually willing to accept and buyers offer less than they are willing to pay. The trick is to find the perfect balance so that you, as a buyer, feel good about the purchase price without leaving the seller feeling insulted. Know Your Market Real estate is a business that either favors the buyer or seller, hence the terms buyer’s market and seller’s market. When negotiating a purchase price, it’s important to know which of the two you are in. As the buyer, you will have the best chance at a successful negotiation if you research the price of other comparable homes in the area before making an offer. Make It Personal When you make an offer, the seller will see nothing more than a piece of paper with some numbers on it that represent the price you are willing to pay. If you really want the seller to take your offer to heart, let them know why you want to buy the home. You can do this by preparing […]
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Once you’ve made the decision to buy a home, it’s time to start thinking about what comes next. Every buyer needs a checklist that will guide them through the process of searching for the perfect home, evaluating their choices and making a purchase. Learn The Lingo When you set out to buy a new home, you will need to familiarize yourself with various real estate terms, conduct research on the market value of homes in the area in which you intend to shop and learn the art of negotiation. This information will help as you browse homes, talk with REALTORS® and get further into the buying process. Get A Free Credit Report Every 12 months, you are entitled to request a free copy of your credit report from each of the three major credit reporting agencies – Equifax, TransUnion and Experian. You should make this request before you begin looking at homes in order to allow yourself enough time to identify and dispute any inaccuracies in your credit file(s). When you approach a lender, you will need to make sure that everything is correct and up-to-date. Get Pre-qualified Pre-qualification is different than pre-approval in that it gives you a possible […]
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You’ve gone to countless open houses, searched online for months, and have finally found the house of your dreams, but before signing your name on the dotted line there are a few key steps you should not overlook. When purchasing a home, hiring the right home inspector can be the most important decision you make. Knowing the condition of the house you are going to purchase cannot be left to appearances or promises, and some undetected problems can be even more costly than the price of the house itself. Making sure you have the services of a home inspector who knows what he or she is doing can prevent what should be a great investment from becoming a financial disaster. So what steps can you take to be sure your home inspector is qualified? Here are a few things to consider. How Long Have They Been In The Business, And What Is Their Professional Background? The housing market has steadily increased over the last several decades, and the home inspection business is booming. With new home inspectors becoming certified each day from a variety of programs, hiring the services of an experienced inspector can really make a difference. Though experience […]
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There is a reason the term “location, location, location” is used so commonly within the real estate industry. The location of a property is one of the most important considerations when selecting a home, as it will affect the value of your home, your day-to-day life, and even your own and your family’s safety. So what can you do to find out a little about the area in which you are considering a home purchase, and what in particular should you be looking for? Know Your Needs The biggest obstacle to finding a home in an area that can meet all of your needs is not knowing clearly what those needs are. While it may be nice to live near the lake, or by your favorite restaurant, what is it that you and your family will need and want in order to have an enjoyable and functional lifestyle? Facilities such as grocery stores, good schools, and community centers may be necessary for families, whereas access to theaters, good restaurants, and a vibrant nightlife may be important to young professionals. Get The Info When searching for your dream home, knowing where to look before starting out can help make the task […]
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