Tips For Buying A Home In This Market
Have you heard the terms, “buyer’s market” or “seller’s market”? They are pretty self-explanatory and you’ve likely heard them if you are trying to sell your home or buy a home in this market. The only problem is, unfortunately, these terms do not go hand in hand. You can’t have both a seller’s market and a buyer’s market. You can only have one or the other at one particular time. Right now, the market is in a seller’s state. That means, if you are selling your home, you can virtually name your price. People are buying anything and everything and they are paying whatever sellers are asking. While selling your home won’t be a problem at all, it does create the question of, “where are you gonna live when you sell your home?”
If you are smart, you likely already have a place set up. If you aren’t you are going to have to buy. And, if you aren’t very careful, you’ll end up buying something that you don’t want. Although it’d be easy to just resell the unwanted home or mistakes, these are unwanted steps that most people don’t want to go through. Luckily, you can avoid them if you know how to shop in a seller’s market.
First and foremost, you are going to need a place to go when you sell your home. In fact, it would be best if you had a place to go before you sell your home. This way, you don’t have to worry about cleaning it and rushing out every time someone comes to view it. You can host open houses and easily have people view the home all day long. In addition to this, if you apply for a loan after making a bid on a home in this market, it makes you look less motivated than someone that’s already been pre-approved. You’d be surprised at how fickle buyers are. The last thing you want to look like is a fickle buyer.
It usually takes right around 24 hours to find out if you’ll be approved or not. You’ll also get a pre-approval letter from lenders that’ll indicate how much of a mortgage you’ll be approved for. At the very least, this will help narrow down your options while giving you a good idea of the type of home you can afford.
Get A Responsive Agent
Been looking at classifieds? Been checking out Facebook and Craigslist for homes? Think you can buy and sell your home with a real estate agent? Think again because this isn’t the case at all. The market is made so that one needs an agent to buy or sell a home. You can’t even get your home listed on Zillow or one of the other big real estate sites without having a real estate license. Plus, a good agent can really come in handy. They have contacts, know the area, and know which elbows and hands to grease. This will come in extremely handy if you are moving to an entirely new area or neighborhood.
That being said, make sure you choose a good one because they all certainly aren’t created equally. Make sure he or she is responsive and answers your calls, calls you back when you leave messages, and takes you seriously.
Do A Thorough Home Inspection
Anyone that frequents online casino giants like ceme online will tell you just how easy it is to fool someone with a look. Hide a royal flush under a little grin. Tuck that full house under a rippled smile. Whatever the situation, it’s easy to hide things and get one over on people. This is why it is imperative to make sure you do a thorough home inspection before buying a home. In some states, a home inspection can be conducted before the buyer makes an offer.
If something turns out to be wrong in the home or you want to request something, you can legally do such during the inspection stage. Sellers aren’t generally required to make repairs if problems are discovered during the inspection process, but if you know-how, you can use certain things to your advantage. A little problem or mishap in the home could mean thousands of dollars off the asking price. You are buying something that you’re going to be paying for the rest of your life! Make sure you get something you want and what you are paying for!