Lynne Morey's Blog
For those who want to buy a home, it generally is a good idea to remain open to negotiating with a seller. That way, you can acquire your dream residence without delay.
Now, let's take a look at three tips to help you streamline a negotiation with a home seller.
1. Be Flexible
There is no telling how a home negotiation will turn out. Fortunately, if you maintain flexibility, you will be able to go with the flow throughout a negotiation with a seller.
Remember, a homebuyer and home seller share a common goal: to ensure a seamless transaction. If you are open to negotiating with a seller, both you and this individual can work together to achieve results that satisfy all parties.
Don't forget to maintain open lines of communication with a seller during a negotiation as well. By doing so, you and a seller can keep in touch with one another throughout a negotiation and avoid potential miscommunications that otherwise could slow down or stop a home purchase.
2. Establish Realistic Expectations
A home negotiation may work out in your favor or a seller's favor. Or, in the best-case scenario, you and a seller will come to terms that fulfill the needs of both sides. On the other hand, in the worst-case scenario, you may need to walk away from a home purchase altogether.
As a homebuyer, it is important to prepare for all possible scenarios. If you establish realistic expectations as you enter a home negotiation, you can plan accordingly. Then, you and a seller can work together to accomplish the optimal results.
You may want to study the housing market closely too. In fact, you can review the prices of available houses that are comparable to the one you want to buy to ensure your offer to purchase falls in line with the current housing market's conditions.
3. Work with a Real Estate Agent
A real estate agent is well-equipped to help you handle a homebuying negotiation. Thus, if you work with a real estate agent, you can get the assistance you need to acquire your dream house at a price that matches your budget.
Typically, a real estate agent will learn about your homebuying goals and help you discover your ideal residence. Once you find a house you want to buy, a real estate agent will help you submit a competitive offer to purchase this home. Next, if a seller wants to negotiate the terms of a home transaction, a real estate agent is ready to negotiate with this individual on your behalf.
A real estate agent also will keep you informed throughout a home negotiation. Plus, if you ever have concerns or questions during the homebuying journey, a real estate agent is prepared to respond to them.
Want to acquire your dream house as quickly as possible? Take advantage of the aforementioned tips, and you should have no trouble handling a home negotiation with any seller, at any time.
Are you a productive homebuyer? If not, you may miss out on an opportunity to acquire your dream residence.
A productive homebuyer understands the ins and outs of the real estate market. As such, this individual may be better equipped than others to purchase a top-notch residence at a budget-friendly price.
Ultimately, operating as a productive homebuyer may be easier than you think – here are three tips to ensure that you can become a productive homebuyer in no time at all.
1. Narrow Your Home Search
If you know what you want to find in a dream home, you can maximize the time and resources at your disposal.
For example, if you prefer a home in a big city, you can start searching for houses in the city of your choice. Or, if you enjoy the unparalleled serenity of small town life, you may want to focus exclusively on houses in various towns.
You also should consider your day-to-day activities as you kick off your home search. If you attend college classes every day, you may want to find a house close to school. Comparatively, if you regularly take the bus to work, you may want to consider homes that provide quick, easy access to public transportation.
2. Establish a Price Range
Although you know that you want to buy a home, you may have no idea what it will cost to obtain your dream home. However, if you enter the housing market with a home price range in hand, you can quickly and effortlessly navigate the homebuying process.
Meet with banks and credit unions in your area. That way, you can learn about myriad home financing options and choose a mortgage that complements your finances.
Don't forget to ask bank and credit union professionals for mortgage recommendations and suggestions as well. These mortgage specialists are happy to teach you about many mortgage options and ensure that you can make an informed home financing decision.
3. Work with a Real Estate Agent
A real estate agent is a homebuying expert who will do everything possible to help you optimize your productivity. If you collaborate with a real estate agent throughout the homebuying process, you can increase the likelihood of getting the best possible results.
A real estate agent will set up home showings, negotiate with a home seller's agent on your behalf and help you get the best price on a home. By doing so, this housing market professional will ensure that you can enjoy a seamless homebuying experience.
Let's not forget about the advanced housing market knowledge that a real estate agent possesses, either. A real estate agent understands the challenges of buying a home and will help you identify and overcome these difficulties. He or she will even answer any homebuying questions, at any time.
Become a productive homebuyer today – use the aforementioned tips, and you can maximize your productivity as a homebuyer and reap the benefits of a quick, efficient homebuying journey.
A first-time homebuyer often proceeds cautiously as he or she navigates the real estate market. However, if this homebuyer discovers the "perfect" home, the risk to overspend to acquire this residence may prove to be too much to resist.
It is important for a first-time homebuyer to understand what it takes to purchase a house at a price that matches or exceeds his or her expectations. That way, a homebuyer can avoid the temptation to overspend on a house and reduce the likelihood of breaking his or her homebuying budget.
Now, let's take a look at three tips that a first-time homebuyer can use to minimize the risk of overspending on a house.
1. Assess the Housing Market Closely
The housing market frequently fluctuates, and a first-time homebuyer who identifies real estate patterns and trends may be better equipped than others to pay the right price for a residence.
Having the ability to differentiate between a buyer's market and a seller's market is key. If a homebuyer understands the differences between these markets, he or she should have no trouble submitting a reasonable offer on a house based on the current housing market's conditions.
In a buyer's market, there is an abundance of available houses and a shortage of property buyers. This market favors homebuyers, and as a result, a property buyer may be better equipped than ever before to acquire a great house at an affordable price at this time.
Conversely, a seller's market favors home sellers and includes a shortage of high-quality houses and an abundance of homebuyers. In a seller's market, a homebuyer may need to submit a competitive offer on a house, or he or she likely risks losing a residence to potential rivals.
2. Get Pre-Approved for a Mortgage
Want to stick to a homebuying budget? With a mortgage in hand, a first-time homebuyer will know exactly what he or she can spend on a house and narrow a home search accordingly.
To get pre-approved for a mortgage, a homebuyer should meet with several banks and credit unions. This will allow a homebuyer to learn about all of the mortgage options that are available and choose a mortgage that corresponds to his or her finances.
Also, be sure to ask potential lenders plenty of questions about various mortgage options. By doing so, a homebuyer can boost his or her chances of making an informed mortgage decision.
3. Collaborate with a Real Estate Agent
A real estate agent can help a first-time homebuyer explore houses that fall within a specific price range, thereby reducing the risk that a property buyer will overspend on a house.
In addition, a real estate agent is happy to provide honest, unbiased homebuying recommendations. This housing market professional understands the ins and outs of purchasing a house, and as such, will do everything possible to guarantee a property buyer can acquire a terrific residence at a budget-friendly price.
Avoid the temptation to pay too much to buy your dream house – use these tips, and a first-time homebuyer can seamlessly navigate the property buying journey.
House hunting can be enjoyable but becomes overwhelming pretty quickly. After looking at many different houses, they can all start to look the same. It’s hard to remember what homes had what features. In order to make a right decision on which home to make an offer on, you’ll need to remember the details of each house. Read on for tips to help you house hunt like a pro.
Keep Track Of The Homes You Have Looked At
Whether you’re doing simple online searches or touring open houses, it’s easy for your mind to get jumbled as to what you have seen. It’s a good idea to keep a record of homes with their addresses as to where they are located, the color of the house, and the desirable features contained within the home. This way, you can have an overall picture of what you want.
Know What Features Are Important
You should make a list of everything you’re looking for in a home before you even start searching. Include things like:
- The price range
- How big of a house you’re looking for
- How many bedrooms
- How many bathrooms
- Additional features like walk-in closets
- Eat-in kitchen or dining room
- What type of home you’re looking for
- How many stories you want the home to be
You can then branch off from the essentials on the list adding other desirable features in a property like a pool, a jacuzzi, a large backyard, or a fireplace. Then, you should make a list prioritizing what is the most important to you in your home search. Things like the number of bedrooms and the size of the home will be a higher priority than a jacuzzi tub.
Look At Your Commute
One of the most significant factors in finding a home is how far it is from your workplace. The closer you are to work, the less stressful your life will be. If you take the train or a bus to work, it may be easier to live close to a station or stop. On the flip side, to be closer to work what are you sacrificing? Are you close to schools, parks, stores, and other regularly visited spots? See what locations suit your lifestyle.
Review What You’ve Looked At
Once you have done your research and decided what you need and want, it’s time to make comparisons. Look at the prices of each home and see what they have to offer for the money. Once you decide the price and amenities are on par with your original wishlist, the house is a good candidate to put an offer on.
Where do you start when you first consider purchasing a home? Buyers who are new to the real estate market may not know exactly what they want in a house or where they want to live. While the dream homes found online, in magazines, and on your favorite television show are great resources for design and style, visiting open house events will help you to hone in on features that will best serve your household.
When visiting open houses, follow these tips to make the most of your time:
Allow plenty of time for each house on your list. If the home appeals to you, take a few moments afterward to drive or walk around the neighborhood.
Create a list of must-haves’, likes, and dislikes to help you evaluate each property. Add ideas that appeal to you during each open house experience.
Sign in when you arrive but let the hosting agent know if you’ve already selected a real estate agent.
Dress comfortably. You might climb stairs, descend into basements, visit attics, or walk from house to house in the neighborhood so be sure to wear appropriate clothing and shoes.
As you tour, create a list of questions for your real estate agent to address with the selling agent if you plan to submit an offer.
Do not peek into closets, cupboards, pantries, or drawers if the hosting agent indicates are off-limits. Your agent can arrange an in-depth viewing if you’re the property is one you’d like to pursue.
Take note if you smell deodorizers and air fresheners. They could be masking pet odors or could indicate something more serious. If you’re interested in making an offer, ask your agent for help identifying the source before moving forward.
Respect the seller's privacy by not taking photos without the host’s permission.
Questions related to making an offer and other negotiations should be funneled through your real estate agent. If you’re interested in the property, ask your agent to arrange a follow-up viewing. Make a list of all your questions and follow up with your agent as soon as possible especially if you want to make an offer on the property.