Thursday, August 17, 2006
Are you a prepared buyer?
If you are looking for property it can be frustrating and time consuming. To make this process a smoother one here are a few suggestions.
* Go to your bank or financial advisor and discover your credit rating and get a letter of credit for the amount you qualify for. (this does not mean you need to purchase a property for that amount, you can go lower if you like)
* Find a real estate agent you are comfortable with. (it is not always the real estate firm, but the individual that makes the difference)
* Be loyal to that agent. (remember his or her souces are the same as another one in the area you are interested in, so using more than one does not gain any benefits also, if you see a FISBO or do a drive by and like a property, keep your agent involved--remember the seller pays your buyers agents commission and he/she is a great asset during the negotations and closing stages)
* Decide on an area that meets your lifestyle. (what is more important, close to work or close to schools or close to relatives, etc.)
* Determine if you need to sell your home before purchasing another.
* Be ready to buy when you find that "dream home". (even in a buyers market, excellent properties at a competitive price will sell fast)
* Know the importance of submitting to the seller an attractive purchase agreement. (a fair offer, with a good downpayment means you are serious)
* Work with your agent to minimize the effort during your search.
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* Go to your bank or financial advisor and discover your credit rating and get a letter of credit for the amount you qualify for. (this does not mean you need to purchase a property for that amount, you can go lower if you like)
* Find a real estate agent you are comfortable with. (it is not always the real estate firm, but the individual that makes the difference)
* Be loyal to that agent. (remember his or her souces are the same as another one in the area you are interested in, so using more than one does not gain any benefits also, if you see a FISBO or do a drive by and like a property, keep your agent involved--remember the seller pays your buyers agents commission and he/she is a great asset during the negotations and closing stages)
* Decide on an area that meets your lifestyle. (what is more important, close to work or close to schools or close to relatives, etc.)
* Determine if you need to sell your home before purchasing another.
* Be ready to buy when you find that "dream home". (even in a buyers market, excellent properties at a competitive price will sell fast)
* Know the importance of submitting to the seller an attractive purchase agreement. (a fair offer, with a good downpayment means you are serious)
* Work with your agent to minimize the effort during your search.
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