Tips for First Time Homebuyers

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Last updated on August 5th, 2018 at 02:25 pm

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Tips For First Time Home Buyers

89% of home buyers use a Realtor®

Remember: A buyer’s agent is free. A commission is negotiated long before a house is put on the market; by not using a Realtor® there is no one looking out for your best interest.

Top 5 Tips for First Time Home Buyers

  1. Communicate with your Realtor®
  2. Show what you can afford
  3. Know when to negotiate
  4. Don’t skip the inspection
  5. Be ready to act quickly

Most important factors to consider when purchasing a home:

  • Price
  • Location
  • Condition
  • Terms

The Home Buying Process For Dummies

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Last updated on August 5th, 2018 at 05:42 pm

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The Home Buying Process For Dummies

Get Your Finances In Order

Speak to a lender
Make a down payment plan & budget
Get pre-qualified AND pre-approved

Searches & Showings

Communicate home buying wish list to your Realtor®
Realtor® searches and finds properties that match your criteria
View properties with your Realtor®

Offers & Negotiations

Realtor® writes initial offer and reviews contract with you
Seller offers a counterproposal, Realtor®  negotiates on your behalf
The offer gets accepted and contract signed by buyer and seller

Pre-Closing & Closing

Realtor® helps you meet all deadlines (title commitment, inspection, appraisal, etc)
Presentation of buyer funds and final walkthrough
Closing and then moving in!

The Smart First Time Homebuyer Guide

first time homebuyer guide

Last updated on August 4th, 2018 at 09:52 am

first time homebuyer guide

Home Buyers Need Realtors Too

88% of buyers purchase a new home through a real estate agent or broker, according to statistics from realtor.com.  Approaching a new home purchase can seem like an easy process because of the technology available online to home buyers; however, this is not the case. Talking to a realtor early on, even up to five years before a purchase, can be a great way to start preparing for your future home and avoiding common mistakes. 1 out of every 4 home buyers regret their purchase, according to a recent survey by Redfin, a real estate brokerage firm.

A great realtor knows how to listen to your needs and also know what’s available in the market and how to find what you are looking for in your price range. They also can help you get the best offer for what you’re spending, what features you can DIY, and how to get out of a contract if you are uncomfortable. Make sure you choose to work with someone who has lived and worked in your target area so they are familiar with the neighborhoods, amenities, property conditions, and pricing.

What to Look for in a Home

  • Location
  • Condition
  • Terms
  • Price

Show What You Can Afford

Get Pre-Approved…Not Just Pre-Qualified

A good realtor knows the difference between getting pre-qualified and getting preapproved…as well as timing for both. If you are serious about purchasing a home, it’s important to get pre-qualified right away. Most realtors can provide you with referrals to lenders, lawyers, title companies or sub-contractors. Once you find a trusted lender, get pre-qualified right away. While you can start your home search after getting pre-qualified, it’s generally a best practice to be pre-approved prior to attending showings or making offers.

Realtors, lenders, and sellers want to know if you have the financial stability to purchase a new home before starting the required processes.

Know What You Want & Where to Negotiate

It’s important to be patient when searching for a new home, as the market availability isn’t always where you want it to be. Employing a little patience in the short term can actually get you what you want for the best deal in the long term. Knowing what features you can and cannot compromise on is key. A realtor is your best bet to knowing what the best deal is in the market, but below is a short list of critical systems not to skimp on and updates you can do yourself later:

Critical Systems Possible DIY’s
Electrical Colors or Paint
Plumbing Countertops
Heating/Cooling Storage & Shelving
Roof Carpets & Flooring
Structural Trees & Landscaping

Have you fallen in love with a home that has beautiful countertops, but has issues with the water heater? Critical systems such as electrical and plumbing should not be looked over. It may only take a hundred or so dollars to replace or install the counters you love, whereas replacing a hot water heater may cost thousands.

Feel Uncomfortable with a Contract?

Once you’ve located a home you are interested in, don’t feel locked down. The buying process can be stressful and you may feel like everyone is pressuring you to get it done quickly. A great realtor listens to your needs and doesn’t get pushy when you change your mind or don’t like an offer.

Why Use a Realtor: Finding the Right Realtor is Crucial

reasons why you should use a realtor

Last updated on August 4th, 2018 at 09:55 am

Why Use a Realtor

Why Use A Realtor

Whether purchasing now, months from now, or years from now, finding the right realtor is key when looking to buy or sell your home. Almost 90% of buyers and seller today still rely on a realtor to guide them through the home buying or home selling experience. Complex, ever-changing real estate laws and regulations, accurate market pricing for listings, confusing contracts and strict deadlines are a few reasons why it’s important to use a realtor.

Using a realtor vs for sale by owner

89% of home sellers still use a realtor to assist in selling their home

According to the 2016 National Association of REALTORS® Profile of Home Buyers and Sellers, almost 90% of sellers engage a realtor to help them sell their properties. There are many contributing factors to the importance of using a realtor instead of listing your house as for sale by owner; complex, ever-changing real estate laws and regulations, accurate home estimates and listing pricing, and confusing contracts and negotiations are a few factors.

While realtors are expected to adhere to strict regulations, there is more you need to know about selling your home. A great realtor will provide an accurate and in-depth market analysis so your home is priced to sell. They will know the neighborhood and have experience selling your type of home. They will have exceptional negotiating skills and be in constant communication with you.  The sign of a great realtor is that they make it seem so easy, you think you could do it yourself.

88% of home buyers still use a realtor to assist in a new home purchase

88% of buyers purchase a new home through a real estate agent or broker, according to the same report from realtor.com.  Approaching a new home purchase can seem like an easy process because of the technology available online to home buyers; however, this is not the case. Talking to a realtor early on, even up to five years before a purchase, can be a great way to start preparing for your future home and avoiding common mistakes. 1 out of every 4 home buyers regret their purchase, according to a survey by Redfin, a real estate brokerage firm.

Related: 1 in 4 American Homeowners have Buyer’s Remorse About Current Home, According to Nationwide Survey

A great realtor knows how to listen to your needs and also know what’s available in the market and how to find what you are looking for in your price range. They also can help you get the best offer for what you’re spending, what features you can DIY, and how to get out of a contract if you are uncomfortable. Make sure you choose to work with someone who has lived and worked in your target area so they are familiar with the neighborhoods, amenities, property conditions, and pricing.

Don’t Go it Alone

There are many reasons not to try to sell your home on your own. Realtor.com has a great article listing the top 6 Reasons You Should Never Buy or Sell a Home Without an Agent. The most important thing to remember is to do your research and not to be pressured into making snap decisions.