Monday, March 26, 2018

5 Things You Must Do Before Buying a Home

It’s time, you are finally buying a new home! It is one of the most significant financial decisions that you will make in your lifetime. From figuring out which location suits you best, your budget and hiring a realtor, every single decision is so important.  Below we will look over five things all buyers must do before purchasing a home.  Mistakes at any stage in the house buying process can cost you more than time and money; they could cost you the home of your dreams.

Consult with a Trusted Real Estate Agent

Yeah, we know that real estate agents get paid a commission based on the sale and purchase of a home.  Many buyers think that this is a solid reason not to hire a realtor however, we are here to tell you the expense of an agent working on your behalf is nothing in comparison to the price you will pay for the mistakes you make on your own.
It is important to remember that a realtor is paid their commission by the seller and not the buyer.  Your real estate agent will make commission off the sale price of the home that is paid for by the homes seller.  The buyer will not be responsible for any of this expense.  Buyers agents will secure your interest in the home and guide you through the purchasing process from the first visit to the last signature.  Having the support of a real estate is a solid investment for any buyer looking to purchase a home.

House Affordability and Mortgage Pre-Approval

Most buyers think of a pre-approval as the point at which they must buy a home however, this is not the case.  A pre-approval is the amount that a lender is comfortable lending you however does not mean that this is where you need to start with your home budget.  It just means that they think at this threshold you could make the payments on the home.    If you decided to purchase a home of a lesser value it would mean that you would have more money in your pocket each month to save, spend on modifications, and such.  It is important to look at homes that meet your need while being realistic on the amount you are interested in paying out monthly for mortgage expense.

Negotiate

You can do it yourself or your real estate agent can also do this on your behalf. It is advisable to ask your realtor about it. They not only have ample experience in the field, but they also can focus on your recommendations for the deal to be outstanding. In general, for your better decision, and as a result, to feel in control and command – you should go through good negotiation skills.

Take Your Time Looking for A Home

Never believe or work according to someone else's timeline and don't make commitments that will make things challenging if your property hunt takes a few months longer than you thought about it. If you are on rent, then it’s better to stay on a month-to-month agreement so that you would be able to move without penalty or charges.
A Buying Agreement Is a MUST
Keep in mind that buying a house includes an agreement. When you are purchasing a house, there are papers to sign. A significant number of those papers, just contracts, need to be well-arranged. In the event, that you need more opportunity to survey your investigation, or want to buy a home loan, then all of this can be made a part of the deal. That is the place a clever real estate broker can help.
Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

Tuesday, March 6, 2018

5 Ways A Realtor Makes Buying A New Home Easier

A DYI house hunting project may seem like a good idea at first. You have a few ideas of what your dream home should be, so you decide to enlist a friend who knows your personality, your style, likes and dislikes, etc. You have a camera and measuring tape in hand, comfortable shoes on, but it dawns on you that you don’t really know where to start.

Buying a new home can get very emotional and challenging to say the least. It helps to have a realtor working on your behalf to simplify the process and to answer some tough questions that often surface. Consider the following ways a realtor can make buying a new home easier for you:

Neighborhood Knowledge

No one knows a local area better than a realtor, whom among other things, has reliable pricing information, they know why a neighborhood has a high distressed rate including neighborhoods that can suit your price range. Only a realtor can narrow the focus to the top two or three homes for you to consider within minutes.

Code of Ethics

If your realtor is a member of the National Association of Realtors (NAR), he or she will make a full disclosure of any problems with a property and be truthful when advertising it. They know that giving you false or misleading information when you are trying to buy a new home may lead to a hefty fine and a year’s suspension or a three-year expulsion from the association.

Finding Available Homes

Some homeowners want to sell their property privately due to financial difficulty, health issues, or from a divorce matter that needs privacy. Such homes are rarely advertised on websites, and sometimes they sold for a lot less. Working with a great realtor can give you access to homes you might otherwise miss on websites.

Pricing Expertise

Realtors have the experience to know whether a specific home is overpriced or underpriced. They can provide you every relevant information on all the houses on sales that you want to see and will advise you on how well a neighborhood holds its value through their years of carrying out various transactions in different neighborhoods.
Assessing Repairs and Handling Paperwork
Once you have your eyes set on a home, a realtor can recognize a few things that you may not see that need upgrading or repair and they can recommend a reliable home inspector who will provide a detailed report on problems with the house before you make an offer. They are also able to help you determine which of the repairs are worth spending money on and which you can comfortably live with.
A realtor will save you a lot of time and headache of finalizing all the necessary documentation. Thanks to their years of experience, they know the paperwork inside and out, and they remain levelheaded in tough negotiations.
Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.