The purchase of real estate is life-changing, and can cause stress. Knowing how the process works, however, can help keep the associated stress to a minimum. The following advice should arm you with the information you need to make purchasing a home an experience that is more positive.
If you sell a home to a client, don’t lose touch. Contacting customers on each anniversary of the day they bought the home and during holidays allows you to stay in touch without seeming intrusive. If you stay in contact with them, you will be reminding them how much you helped them with the buying or selling of their real estate. Conclude your message with a reminder that you are eager to receive referrals.
Be sure to find a partner you can trust to work together with, when buying expensive and large commercial property. With a partner, loan qualification will be easier. When you have someone else willing to share the purchase, he or she can provide part of the down payment. Likewise, his or her credit is also factored in when you are applying for commercial loans.
When you are buying a property, have some extra money so that you can pay for costs that you did not expect. This normally includes down payments, bank fees, and pro-rated tax. But there can be even more costs at closing. These may include property taxes and assessments.
You will know what the seller is asking for a home you are considering buying, but you still need to determine your own offer. Be respectful when explaining your offer to the seller, and you will be able to compromise on a good price for both of you.
Don’t be afraid to ask a seller for financial incentives when making an offer to buy. One common practice is to request that the seller “buy down” interest rates for one or two years. When you ask for help with upfront expenses, the seller is not as willing to negotiate on the price of the home.
Plan ahead of time which questions you are going to ask your real estate agent. Ask all of the important questions, like how many houses they have helped to sell this last year, and what is the number of homes they sold that are in the area you are looking at? Regardless of the questions you ask, a good real estate agent will have ready answers to your questions. Make sure all questions are answered professionally.
Before considering a property, you should perform a search for registered sex offenders in the neighborhood and surrounding areas. While the sex offender registry is public, you had best check it yourself, as the agent and seller are unlikely to voluntarily disclose this information. It is important that you take responsibility for your own research.
Before purchasing a home, it is highly recommended you have an inspector perform an inspection on the home. You don’t want to discover after you buy that your house needs a lot of renovating. A home like this is not only expensive to repair, but it is also costly in that you may have to live elsewhere until the renovations are completed.
Utilizing the above tips will help make buying a home a piece of cake. Having an understanding of what you can expect is only half of this battle.