Do you want to get the best house you can for the least amount of money? Then make sure you are in the strongest negotiating position possible. Price is only one of the bargaining chips in the negotiations, and not necessarily the most important one. Often other terms, such as the strength of the buyer or the length of escrow, are critical to a seller.
So, one way to make a strong offer today is to get pre-approved. Your Realtor® can often recommend a few lenders that they know can close deals. Then you work with that lender who verifies all of your information and you actually get pre-approved for the loan (based on a future appraisal on the property).
This process takes anywhere from a few days to a few weeks depending on your situation. It's VERY POWERFUL and a weapon I recommend all my clients have in their negotiating arsenal. It is also extremely important so you know how much home you can actually afford.
Sell First, Then Buy
If you have a house to sell, sell it before selecting a house to buy! I haven't seen a contingent sale work in several years. And now that the market is changing, it’s even more critical. Many homes are getting multiple offers and are selling very quickly. When you are selling your home, you can write into the contract that the contract is contingent upon you finding appropriate housing (meaning that escrow does not close until you have found your new home).
Know What You Want
Before house hunting, make a list of ten things you want in the new place. Then make a list of the ten things you don't want. You can use this list as a scorecard to rate each property that you see. The one with the biggest score wins! This helps avoid confusion and keeps things in perspective when you're comparing homes. It will also help your Realtor® understand exactly what you’re looking for.
Don't Be Pushed Into Any House
Your Realtor® should show you everything available that meets your requirements. Don't make a decision on a house until you feel that you've seen enough to pick the best one for you. You have the right to investigate everything! You can have multiple inspections, check into the school districts, talk to the neighbors, talk to the city or county regarding zoning or parking regulations, and much more. If you’re unsure, ask your Realtor®.
Stop Calling Ads!
A word of caution - agents create ads solely to make the phone ring! What's not mentioned in an ad is usually more important than what is. For this reason, I want you to be very careful when reading ads. Remember that the person writing the ad is representing the seller and not you! The most important thing you can do is have someone on your side looking out for your best interests. Your own agent will critique the property with an eye towards how well it meets your needs and will point out any drawbacks you should know about.
So whether you decide to work with me or not, pick an agent you feel comfortable with and enlist the services of that agent as a buyer's broker. Then you become a client with all the rights, benefits, and privileges created by this agency relationship.
Did you know that many homes are sold WITHOUT A SIGN ever going up or an AD EVER BEING PUT IN THE PAPER? These "great deals" go to those people who are committed to working with one agent. When an agent hears of a great buy, who do you think he's going to call? His client, who he has a legal obligation to work hard for you, or someone who just called on the phone and said "keep your eyes open"? So to get the best buy on a property, I always recommend that you hire your own agent and stick with them. Visit our website or give us a call for more information www.SDHorseProperty.com
Melissa A. Santich, Associate Broker, SFR, ePro
San Diego Horse Property