What are the advantages of home ownership?
There are many benefits such as pride of ownership, an increased sense of security, the ability to make improvements of your choice, and not least of all, tax benefits.
Should I work with more than one REALTOR® at the same time?
The most important aspect is finding an Agent to work with that you feel comfortable with, and will provide you the service(s) you expect. All REALTORS® have access to the Multiple Listing Service (MLS). Thus, they should be able to keep you abreast of all “New” & “Available” listings. Over and above this, a REALTOR® needs to be an advocate for their Client(s). In order to provide this service, it takes more than just showing homes, and sending email updates. A competent Real Estate Professional will fully understand the current market, including but not limited to: 1) Sale statistics; 2) Trends; 3) Hurdles needed to overcome certain types of sales; 4) The Sale Process and more.
How should I prepare for the first meeting with my Realtor®?
Decide what features you have in your present home that you would like in your next home. You should also decide what additional features you would find appealing. Be certain to list all of your income and its sources, as well as all of your debt information, which will hasten your qualification process.
How long should it take to find the right home?
Because your Real Estate Agents job is to consider your needs and match them with the best house, you may be surprised to discover that you find your next home the vary first day that you look.
What am I supposed to do when looking at homes?
Make a mental list of everything that you like and do not like as you go through each home. Then, as you travel to the next house, you can review this information with your REALTOR®
What specific things should I look for in a home?
Look for features that you really would enjoy. Try to picture in your imagination your family and your furniture in the home.
What questions should I ask about the schools?
You would want to know how the state ranks the school, test scores, sports programs, and gifted and special programs. You may even arrange to visit potential schools.
Is it possible for us to find our dream home?
Yes, however, no house is perfect in every way. There will always be something that is not exactly right or in accordance with criteria. A home has a multitude of advantages and features. If you are able to get approximately 90% of those features in a specific house, this may be the one for you.
I am transferring to a new city, what do I do differently in this case?
As a transferee, you should try to get a feel for the entire city and the neighborhoods. This will help you to find an area where you think you would be the most comfortable, before you begin to look at specific houses.
Ask your REALTOR® for a sample blank copy of the contract. There are differences in financing, contingencies, inclusions and exclusions and specific dates of importance.
Do I need to have any inspections done to the home?
You should consult with your REALTOR® about this. Regulations and requirements regarding home inspections and reports about mechanical, electrical and structural features differ widely throughout the country.
Can I add extra inclusions into the contract that are not in the listing?
You should consider the possibility that the seller had personal or financial reasons to exclude these items, however, you may try to negotiate their inclusions through your REALTOR®.
How do I negotiate with the Seller to get a contract that is to my advantage?
Your REALTOR® can negotiate using the fair market value of similar properties that have been sold. The comparable sales will show the sellers that your offer is accurate, given these standards.
What kind of pressure should I put on myself when I’m about to write an offer to purchase a home?
If you should find a house that feels right to you, make an offer. After all, if you find the home appealing, chances are there are other Buyers who feel the same way. If you procrastinate too long, you may risk losing the opportunity to purchase all together, or face a multiple offer situation.
When should I begin to look into financing?
At the time you sit down for the qualification interview, you may wish to up the issue of alternative financing. Then at the time you are ready to decide on the contract, your methods of financing is already taken care of.
What documents should I bring to my lender?
Your REALTOR® will give you a list of all the items pertaining to income and debts that your lender will require in order to haste the process of approval.
What type of financing should I choose?
Ask your lender about the various types of financing available. In recent years, many various types and terms of financing have become commonplace. You may also wish to speak with various lenders regarding their programs and how they might fit your needs.
What is Buyers remorse?
Buyers usually second-guess themselves as to whether or not they made the correct decision. This normally sets in between the time the contract is signed and is closed. You may want to contact your Realtor® if or when you begin to get these feelings and discuss it.