4. Stop Calling Ads!

A word of caution – agents create ads solely to make the phone ring!  Many of the homes may have some drawbacks not mentioned in the ad, such as traffic noise, power lines or litigation in the community.  What’s not mentioned in the ad is usually more important than what is.

For this reason, be very careful when reading ads.  Remember, the person writing the ad is representing the seller, not you!   The most important thing you can do is have someone on your side looking out for your best interests.  Your own Buyer’s Agent will critique the property with an eye toward how well it meets your needs and will point out any drawbacks you should know about.

So, whether you decide to work with us or not, pick an agent you feel comfortable with and enlist the services of that agent as a Buyer’s Agent.  Then you become a client with all the rights, benefits and privileges created by this agency relationship, and you’re no longer just a shopper.  Did you know many homes are sold WITHOUT A SIGN ever going up or an AD EVER BEING PUT IN THE PAPER?  These “great deals” go to those people who are committed to working with one agent.  When an agent hears of a great buy, who do you think they’re going to call?  Their client, for whom they have a legal obligation to work hard, or someone who just called and said “keep your eyes open for me”?  To get the best buy on a property, we always recommend you hire your own agent and stick with him or her.  As always, we do this at NO CHARGE to you, the client.

Well there you have it…my Most Important 4 Things Every Renter (Home Buyer) Should Know Before Purchasing Any Home.

Make it a GREAT DAY and HAPPY HOUSE HUNTING!

Randy

1. Don’t Get “Pre-Qualified”!

Do you want to get the best house you can for the least amount of money?  Then make sure you are in the strongest negotiating position possible. Price is only one bargaining chip in the negotiations, and not necessarily the most important one. Often other terms, such as the strength of the buyer or the length of escrow, are critical to a seller.

In years past, we’ve always recommended buyers get “pre-qualified” by a lender.  This means that you spend a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you “pre-qualified” and issues a certificate that you can show to a seller.  Sellers are aware that such certificates are WORTHLESS and here’s why! None of the information has been verified! Often, unknown problems surface!  Problems I’ve seen include recorded judgments, child support payments due, glitches on the credit report due to any number of reasons both accurate and inaccurate and down payments that have not been in the clients’ bank account long enough, etc.

So, the way to make a strong offer today is to get “pre-approved”. This happens AFTER all information has been checked and verified. You are actually APPROVED for the loan and the only loose end is the appraisal on the property. This process takes anywhere from a few minutes to a few days depending on your situation. It’s VERY POWERFUL and a weapon we recommend all our clients have in their negotiating arsenal.

******* Stay tuned for Number 2…

Do you want to get the best house you can for the least amount of money? Then make sure you are in the strongest negotiating position possible. Price is only one bargaining chip in the negotiations, and not necessarily the most important one. Often other terms, such as the strength of the buyer or the length of escrow, are critical to a seller.

 In years past, we’ve always recommended buyers get “pre-qualified” by a lender. This means that you spend a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you “pre-qualified” and issues a certificate that you can show to a seller. Sellers are aware that such certificates are WORTHLESS and here’s why! None of the information has been verified! Often, unknown problems surface! Problems I’ve seen include recorded judgments, child support payments due, glitches on the credit report due to any number of reasons both accurate and inaccurate and down payments that have not been in the clients’ bank account long enough, etc.