Home Buyer's Guide
Purchasing a house is one of life’s biggest decisions, but don’t worry, I’m here to help.
Home Buyer's Guide
At the moment, we are seeing more buyers than homes available, which, of course, pushes prices higher and causes homes to sell quickly. The good news is that interest rates are at historic lows, meaning those who buy now will lock in lower monthly payments for the life of their loan. The savings in interest may more than offset the higher values. Remember, you live in the payment, not the price.
When you are ready to purchase your home, use my Buyer’s Guide Checklist to put yourself in the best position, simplify the process, and save money.
Pre-Approval from a local lender
A pre-approval letter from a local lender is a must-have document for every buyer. You’ll know the amount you can afford, and your projected monthly payment. In addition, sellers will look favorably on your offer knowing that you are a fully qualified Buyer.
The listing agent has a fiduciary responsibility to the seller, and as a buyer you need a Buyer’s Agent who will look out for your best interest. A Buyer’s Agent will help you schedule appointments to see property, provide advice, provide comparable pricing data, and prepare a purchase agreement with terms more to your advantage. Once your offer is accepted, a Buyer’s Agent will help you review all the necessary documents while guiding you through your inspection reports, repairs, escrow, and title process. See my Buyer’s Agent Guarantee.
Find It First Custom Portal
See homes as soon as they hit the market. With homes selling as soon as they hit the market it’s very likely that your dream home has not been listed yet. With London Properties’ Find-It-First email updates you enter the information about the home you want and you’ll receive an email notification as soon as it hits the market. You can also save, reject and share properties with me so I can schedule showing appointments.
Pre-Qualifying Your Vendors And Service Providers
Once your offer is accepted, things move very quickly. I recommend having your service providers in place before you make an offer. You’ll want to order a Home Inspection, Pest Inspection and Insurance, plus you might need your own roof and pool inspector, a Home Warranty and possibly a General Contractor. If you don’t have contacts for these services, I can guide you through the process.
Know What You Need Vs. What You’d Like
While it’s everyone’s goal to find “the perfect home”, most likely you will find a home that meets 80% to 90% of your needs. This is especially true when more than one decision maker is involved, such as you and your spouse. With homes selling briskly, it’s important to have a “Must Have & Would Like To Have” list so when you find a property you love you can make an offer quickly. I can help you separate the must from the likes and put you in position where you can act quickly and with confidence.
Make Your First Offer Your Best Offer
This year, many sellers are getting multiple offers and the asking price is one of many factors that will make or break your offer. In addition, buyers do not want overpay and will say things such as, “Let’s offer them (your low offer) and if they counter we will be willing to go up to ( your high offer).” This strategy can work in a buyer’s market but more often than not this strategy doesn’t work at all and the seller accepts a different offer.
Keep in mind that getting your offer accepted is the first step. You will have time to inspect the property, have an appraisal and determine if the price you offered is the correct purchase price. I will help you determine the right offering price and will guide you in selecting the right requests and purchase options that could help make your offer become the one accepted.
Be Ready to Negotiate
One of the biggest mistakes I see with buyers and sellers is that they assume they know how the other party will react to their offer. Almost every transaction involves some give and take, and this is where I can give you confidence and clarity to make the right decision. Working with an experienced Realtor like myself is the key to helping you to move into the home of your dreams.