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Monday, 30. September 2013

Jumping Into The Housing Market

By patch2tire, 15:51

Working with an experienced agent you'll be far less likely to be asking us questions in panic while you're in escrow. Simply because a great buyer's agent will take the time to help you understand the loan process and will stay on top of every step of it for you, since you probably don't understand the process as you don't do this every day. Secondly, they won't let you see properties if your loan type won't work for it just to see it, unless they think there's a possibility that it might work for you.

Some buyers question the honesty of their agent when they feel that they are not in control of a deal. However, negotiating multiple offers is exclusively directed by the seller. If the seller allows an agent reveal the terms of the other offers, then the agent will do so. If the seller simply requires everyone to blindly submit their best and final offer, then that is how the agent will proceed.

When purchasing a new home, it is sometimes possible to negotiate a large discount for a cash buyer. If you find an agent with experience as a loan officer, this will help them advise you concerning whether the financing offered is fair or if a mortgage broker should be used. Unfortunately, any closing costs paid by the builder are only offered using their lender because they want control of the loan process. The loan process is often the number one reason most real estate transactions involving new builder development sales fall apart.

Buyers are not required to have a home inspection, but it is a highly recommended service. A home inspector inspects the basic infrastructure of the home, including plumbing, electrical, structural, and HVAC. They will let you know if there are any red flags and will recommend bringing in a professional to fix any issues that may arise.

There are circumstances where people decide to sell their home by themselves (FSBO) and hire an attorney only to do the purchase and sale of the property in order to save money. During the closing stages, they are sometimes threatened by the buyer’s attorney to pay for most of the buyer’s closing costs or they will not close. The seller then ends up having to pay the buyer’s closing fees because they did not hire an attorney to defend them during closing. Although not hiring an attorney may seem like it saves you money in the beginning, it is common to run into problems later in the transaction.

Consider location, floor plan, neighborhood, school district, noise, lot size, and your view of the home and from the home. Remember that you can change personalize the style of a house, things like the fixtures, flooring, appliances, paint, etc. You can't change the substance or it's location. Start with those features that are a must and those that you would like to have, but are willing to compromise on.

Your agent is going to tell you that you have to move quickly and make the best offer possible when you find the right property. This is not always the best advice, but once it is gone, it's gone and homes that outshine the rest will be gone and hard to replace at your leisure. Ballantyne Homes for Sale in Charlotte, Ballantyne Homes for Sale