Tips For Home Search

Hints For Prospective Buyers -

 

Recommended Dos and Don'ts for Best Results:

  • Pre-Select a Realtor, a Mortgage Professional, and an Attorney. 
  • Obtain a Mortgage Pre-Qualification, with Credit Report, Prior to your Search
  • Think About Getting a Homequity Line on Your Current Home Before you List it 

        for Sale.  The Source of Your 10% Purchase Money Can be Key - it's Likely You'll

        Need to Give Those Funds to a Seller Before you Get any From Your Buyer.

          Homequity Lines are Not Obtainable Once Your House is on the Market -

        Because the Bank is Then Aware that You're Using the Homequity as a "Bridge".

  • Develop a Target Strategy with your Realtor.
  • Design a 10 Point 'Wants and Needs' List with your Realtor  -  and Shoot for

          Getting 8 out of 10 of Those Items vs. Finding the 'Perfect' House. 

  • Don't View Houses Priced Significantly Higher Than You're Pre-Approved for. 
  • Be Careful with Advice from Persons Close to you (Listen; but Realize that They'll Tend to Over-Protect you at Times). 
  • Avoid Looking at Too Many Houses at One Time. 
  • Use a Professional for your Building Inspection - not a Relative or Friend. 
  • If the Home is a Re-Sale, Expect to Spend a minimum of $500 to $1,000 After Closing - from the Findings in the Building Inspection Report. 
  • Review the Sellers' Property Condition Disclosure Form Prior to Making an Offer.  Get your Realtor's or Attorney's Input if Needed. 
  • If You're Trading Up, Figure Out Worst-Case Scenarios; i.e., Possibly Owning

        2 Properties at Once.  (Get all of Your Advisors Involved in This!).

  • Ask your Realtor if There are Any Seller Credits or Allowances Being Offered; such as, Carpeting, Appliances, Repairs, and Closing Costs.
  • Make Sure that you Understand all Costs that will be Part of the Transaction.
  • Use This List as a General Guide - Every Purchase has Unique Characteristics.

          

Knowledge, Integrity, Efficiency
Copyright © 2009 Content herein is the property of Craig Chiello, CT Originator, Non-Depository. All Rights Reserved.