Buyers Real Estate Tools
Top 5 Tips For Home Buyers
- Get Pre-Approved For Financing:
- Be Realistic About Needs and Wants:
- Make the Right Offer:
- Avoid Midstream Changes:
- Be Pro-Active:
When a home seller receives an offer to purchase there are two primary factors
that are always considered immediately - How much is the offer; and, does
the buyer really have the money? After all, a seller has no way to know who
you are or how reliable you may be. In every case a seller is more willing
to negotiate price and/or other terms if the availability of the money is
assured.When a home buyer makes the effort up front to get pre-approved for
financing it does two things - Establishes exactly how much home you can afford;
and, puts you in the strongest possible negotiating position with all home
sellers. For a list of our recommended lenders please visit our Real
Estate Financing page.
There is no reason that a home search should take more than a week or two
in a normal market. But, everyone has heard about someone who looked at dozens
of homes over a long period of time. This only happens when the buyer has
not come to terms with what they really need, want, and can afford to buy.
This website has been created to help you save time and narrow down your search
to a short list of homes before you get in a car and go see them. This should
help make your home search an enjoyable and productive time, we understand
that your time is the priority!
A rule of thumb is that first offer that's too low will usually result in
the buyer either losing the home or ultimately paying more than they should
for the home. Why? A low ball offer puts the seller on the defensive, making
future negotiations more difficult. An offer that is too high can also send
the wrong signal to the seller, especially when the home was just recently
put on the market. A too high offer may not only cost the buyer money but
could cause the seller to be less agreeable with other terms and conditions.
A buyer who plans to get a home loan, should acquire loan pre qualification
or even better, a pre approved loan before going out to tour homes with an
agent. This pre approval is always subject to financial issues remaining unchanged
until closing. Buying a new car, loaning money to a relative, splurging on
a vacation, missing a credit card payment, etc., all can be factors that impact
the pre approval and jeopardize the buyer's ability to finalize a mortgage
loan for the amount desired. Similarly, a cash buyer who needs to sell stocks,
make IRA withdrawals or otherwise move funds around should do so well before
closing and preferably before the search process begins. An unexpected delay
of days or weeks while a retirement plan administrator processes your withdrawal
could make the difference between buying the home you want or watching someone
else buy it.
This may seem to be a given to most people but it is truly amazing how many
home buyers think that all they have to do is sign the contract and everything
else will magically occur without their participation. The fact is that there
are many details that only the buyer can resolve to assure a timely, trouble
free purchase and closing. The Buyer's Agent will counsel and assist throughout
the process but the buyer will have the best overall result by being fully
aware of all aspects of the process and asking as many questions as possible
along the way.
If you are currently shopping for a home, or you would like more information about the local market, please contact us so we can discuss the many options you have on the Central Coast.
We're always happy to help!
Jerry Green
Office: 805-541-1921
Mobile: 805-550-8214
Fax: 805-541-1947
Email: jerry@c21slo.com
Office Location:
1366 Madonna Road
San Luis Obispo, CA 93405
