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Designing a Home Buying Strategy: Before shopping for a home, every buyer needs a home buying strategy - a game plan - that reflects his or her unique needs and wants. That means developing a pre-determined shopping list of what a house must provide (the needs) and the "would-like-to-haves" (the wants). To properly prepare a home buying strategy, home-buyers must first examine their lifestyles and budgeting priorities and then do their homework. Asking questions, demanding answers, researching everything from closing costs to mortgage financing, and making all the major decisions - before an offer to purchase is ever signed. In fact, signing an offer is the climax to the home buying process, not the first step. When buying a home, preparation and planning are the key
to success. With a home buying strategy, the house you
buy should satisfy all of your needs and as many wants
as possible, and be one you can afford to buy and carry
each month. What Can You Afford; Financing Pre-approval: There is nothing more frustrating than falling in love with something and then finding out that you cannot have it! Set out to find your home with your tool box in hand - filled with the tools that you will need! The first, and possibly most important tool, is your Mortgage Pre-approval. Know what you can spend and what you want to spend. Be aware of the necessary down payment and have the initial deposit money available. Most people buying home need a mortgage. Too often, in the past, arranging a mortgage was left to the very end, sometimes even after a house was bought, forcing borrowers to scramble for financing. How things have changed! Today it is important to shop for a mortgage before you purchase a home, since most lenders will "pre-approve" buyers for a mortgage. Some lenders will even do it over the phone. It is a no cost, no obligation deal that lets you know before you go house hunting or sign an offer to purchase, how much you can afford to buy based on how much you can afford to borrow. When getting pre-approved for a mortgage, see how long the rate commitment is good for; it differs from lender to lender. With a pre-approved mortgage you can confidently negotiate the purchase of a home, knowing the mortgage financing is arranged, subject o final property appraisal. Benefits of a Pre-Approved Mortgage:
Searching for the Perfect Home; What to Expect: You may NOT see many homes before you find the perfect home! It is not uncommon for Home-buyers to find the perfect home within 1 or 2 days of viewing potential houses. You MAY be competing with another offer when you do decide to purchase a home. I do my best to pre-screen every home. However, you may see some homes which do not meet your criteria. Unfortunately these are often some of the most difficult to forget. I believe that you will instinctively know when you have walked into the perfect home. If it doesn't feel right - it isn't, so don't buy it. Open your possibilities up to all potential properties by hiring me to consider all homes rather than just those that are listed for sale. Often the best homes to consider are those that are not available, or not yet available on the open market, however don't discount properties that have been on the market for some time. My promise: Whether I show you 5 or 50 homes, I will do whatever it takes to find you the right home. Finding and Purchasing your new home: Consider how you will react when you find a home that you would like to purchase. Will you be: nervous? have difficulty deciding? require input from family, friends or advisors? have buyer's remorse or worry about what you might be missing? If we see a home that you really like, I will ask you if you would like to make an offer. Due to the pace of our market, you will not always have time to consider your options. Once you decide that pursuing the home is your desire we will sit together and write up an offer. I will focus on your best negotiating position. There are numerous factors which make a big difference in the strength of your offer.
Sold! Making an offer to buy your home: I do everything possible to offer a home to you before any other home-buyers have seen it. I will also search for homes that are not even on the market. However, you may not always be the only hopeful buyer. If we write an offer and are competing with another buyer, I recommend:
Preparing for your Move-in Day:
You may not get keys released until the afternoon. I will arrange to get the keys to you on possession. I will discuss this prior to possession. Fridays are great days, as you have the entire weekend to organize. Be calm. Hope for, but do not always expect a clean house. If something is not the way you expected it, contact me and your lawyer immediately. |