You want your dream house but you are not sure how to get it, especially without overpaying. That’s going to be a challenge but there are ways to get what you want. The first thing to remember is to always work with a realtor.
Trying to handle real estate matters yourself could lead to major mistakes throughout the process. This is not limited to issues with agreements as a great realtor will always go the extra mile on both sides to ensure the best outcome for their clients. Often, these men and women will also offer their valuable advice including how to help improve your chances of getting your ideal home:
1. Get the finances out of the way early: Get prequalified for a loan as early as you can and make sure that you are prepared to not make any major transactions during this period. Because your finances are being monitored, any major transactions, even buying furniture can disrupt the process.
2. Don’t be in a rush: If you want your ideal house there’s a good chance you will have to wait for it. Sellers may not have the urgency you have or in some cases need to find a home of their own first.
3. Sell your property first: While the seller may want a bit of time to move out, they certainly prefer if you already have. Needing to sell your property first isn’t something sellers are fond of as it makes them have to be part of two major real estate transactions now and rely on both going well so that they can get paid.
4. Always speak thru realtors: You should never speak with the sellers directly. Even if they want to get involved, try to speak with your realtor and thru them. Your realtor knows the laws and how to handle these types of transactions. Even if you are friendly with the people selling the home, you never know when a disagreement about who should replace a roof or water heater can create an argument that costs you your home. Additionally, you want to move forward carefully from a legal standpoint and making sure you are checking all the boxes, especially in communication.
5. Minimize conditions: Even under the best circumstances of selling a home it is still a challenging experience. If you are trying to purchase a home and you want things to go smoothly, try to minimize any conditions you want to add to the deal. Yes, it may be more convenient for the current owners to get the house tented or the front driveway redone. However, offering to split the costs may save you money on what you borrow and give you a major advantage during negotiations because it’s the easier option for the sellers.
Realtors will handle the bulk of the work and communication. It’s important that you focus on the property itself during these periods, making sure it’s the right fit for your needs and also is something you want to invest in. Allow the professionals to handle these other tasks as they will ensure it’s done correctly and also that your interests are protected.