Whether you’re looking for an investment or your own home, you just need to know the ins and outs of the buying side. Make your real estate buying experience an easy one by reading the ideas presented in this article.
All real estate agents need to be in touch with their previous customers on the anniversary of the date they purchased their home, and certainly during the holidays. When your former clients receive a holiday card from you, they will remember how helpful your were when they purchases their home. At the close of your greeting, remind them that you work on a referral basis and would consider it a compliment if they would recommend you to their friends.
If you made an offer to purchase a home but the seller rejected it, do not be discouraged. The seller may still find some way to complete the deal. The seller might be convinced to cover closing costs or perhaps repair some parts of the home prior to you moving in.
When seeking a new home, think long-term. You may be child free now, but sometimes people change their minds. So a look at the local schools can’t hurt.
Ask your Realtor if they can give you a checklist. It is not uncommon for a Realtor to bring a checklist containing all facets of a home purchase, including shopping for neighborhoods to obtaining financing. A checklist will keep you organized and allow you to measure your progress.
Closing Costs
Make sure you have an emergency fund set aside for extra costs that arise while purchasing property. Buyers usually calculate the closing costs by adding the down payment, the points to the bank and the pro-rated real estate taxes. However, additional expenses are frequently added to the closing costs, including improvement bonds, school taxes, and other location-specific items.
Make an offer only after researching the comparable home sales in the area, the condition of the home and how long the house has been on the market. Between you and the seller, you can find a price that is agreeable to you both.
When you are ready to make an offer on a home, ask the sellers to consider financial incentives such as help with any closing costs. Many buyers try to get the other party to “buy down” their rate of interest for a short period of time. Adding financial incentives to offers will make sellers less willing to negotiate selling prices.
Take note that most foreclosed homes need repairs, so if you come across one keep that in mind. Vacant homes, as is often the case in foreclosures, haven’t had regular maintenance. If you are buying a foreclosed home, it will probably need new heating and air conditioning systems, as well as pest control services.
Always do research before buying a property. Lots of people are too eager to get into the real estate market and end up making bad purchasing which causes them to lose a great deal of time and money. So, investigate the history of any property that you are considering buying, as well as all aspects of the immediate vicinity.
It is crucial that you take the time to investigate the neighborhood you will be living in before you make an investment. You need to find a neighborhood that meet your needs so that you will be totally satisfied with your home for the long haul. If you do not have a good feel for the neighborhood, then you may have issues in the future.
Square Footage
Do a little investigative work of your own by measuring the home before you purchase. This is important because you cannot compare public records with the actual square footage unless you measure. You always want to be certain that the listed square footage is accurate. The two numbers should be within 100 square feet of each other; if they do not match, either reconsider buying the property, or figure out what is going on.
If you know what you’re doing in real estate, you’re a lot more likely to succeed. Getting the right information will help you succeed. This article has given you information on how to use your knowledge in the right way. You can now deal with the rest of the story!
By John Kurczak ,Michigan Real Estate for sale, Realtor, agent