One of the most important milestones in people’s life is purchasing and owning real estate. As this is agreed to by most people thought has to be put into the long term effect a home or other property will have on your lifestyle and family. Just like any other large item.
Here are some tips for you if you are thinking about moving up to owning your own home and getting out of the renter’s mindset.
Tips are Following
- Get an experienced real estate agent on your side. Take the advantage of a qualified agent’s experience and the resources he or she has instead of trying to find a house on your own and negotiating with the owner or their representative for yourself. With the perhaps hundreds of real estate transactions under his or her belt a real estate agent can help you to get the best possible home for your money.
- Get your real estate agent to prepare a Comparative Market Analysis of the property you have in mind. This analysis will show you what similar real estate has been sold for recently. It also shows you a comparison of the asking and selling prices of various homes.
- Have the home inspected by a third party inspection company. Any problems with foundation, roof, etc will be found by them. This will let you know the real condition of the home before it is time to buy.
- Try to get pre-qualified for financing with a mortgage rate guarantee. This way you can avoid disappointment if you fall in love with a house out of your price range as you will know what you can really afford. Also the buying process will be streamlined later.
- Be aware of different negotiating tactics and styles. Counter offers my be less appealing if you upset the seller with an offer too low. You can get through offer situations far better with an experienced real estate agent.
- Eagerness and emotions should not get the better of you. You have to weigh the pros and cons with your real estate agent before making any decisions as it is very easy to find a home that you just have to have.
- Know and understand the legal documents before making an offer on a home. You real estate agent should explain you all clauses and agreements. Also make sure to know your obligations and rights once the offer is put forth.
Just remember that your real estate agent is your best bet on finding the best home for you. He knows the ropes and will be a great help!