13 Essential Homebuyer Tips

Here are the results from a survey of 400 real estate agents from Market Leader as to the top 13 best tips for home buyers.
Tip 1: Get a home inspection.
The tip: Get a home inspection to evaluate the safety and overall condition of your new home, even if it appears flawless.

Tip 2: Get Preapproval for a Mortgage
The tip: Before you start house hunting, get preapproved for a mortgage loan.

Tip 3: Communicate Through Your Agent
The tip: When you want to ask or tell the seller something, always go through your real estate agent.

Tip 4: Put Everything About the Deal Into Writing
The tip: Get the seller to put every component of the deal and any verbal agreement into writing.

Tip 5: Include Contingencies With Offer
The tip: Include important contingencies, such as financing and property inspections, with your offer.

Tip 6: Develop a Wish List
The tip: Come up with a realistic wish list. Find out what you can afford in terms of house size, neighborhood and amenities.

Tip 7: Know Your Local Market
The tip: Know as much about the local market as you can. Use your agent’s CMA to learn about the selling price of comparable homes and the strength of the local real estate market.

Tip 7: Prioritize!
The tip: Decide what’s most important to you before the negotiation so you know what parts of your offer you’re most comfortable giving up.

Tip 8: Look Into Government Programs
The tip: Look into programs for first-time homebuyers. See if you qualify for the lower interest rates, low down payment options and down payment assistance programs some banks and governmental organizations offer first-time homebuyers.

Tip 9: Research Real Estate Agents
The tip: Don’t just work with the first real estate agent you come across! Do your homework and find one you’re comfortable with.

Tip 10: Keep Other Houses in Mind
The tip: When you begin negotiating on a specific property, know of other houses you’d be interested in buying. You don’t want to be so desperate to buy a certain house that you give in to whatever the seller wants.

Tip 11: Be Smart With Your Contingencies
The tip: Avoid including unnecessary contingencies in your offer. Doing so will make it less attractive.

Tip 12: Keep Negotiations Short
The tip: Avoid long, drawn-out negotiations, which can negatively affect the chances of your offer being accepted.

Tip 13: Scope Out Neighborhoods & Neighbors
The tip: Talk to neighbors to get the inside scoop on what it’s like to live in the neighborhoods of homes you are interested in. While doing so, gauge if you would like to live next to these people for the foreseeable future. Bad neighbors can affect your property’s value.

If you want to learn more about the home buying process and how it's changed over the years, contact me, Jody Siano. Cell/text to 609-529-8107.