Starting with Number 7… Be available to see the property today. Good homes sell fast so when you see it… jump on it quickly. If the market in the area happens to be a seller’s market, houses will sometimes sell within a few days. A seller’s market basically means there are more buyers in the market than there are homes for sale… driving up prices and producing multiple offers on most homes.
Number 6 Have a plan B!… Having a plan B will typically mean finding temporary housing until you can secure a home. This is especially true for relocations. Relocations will have employment start-up dates that require you to move here to start your job. Sometimes the start-up date and finding the perfect home don’t always match up. I find it’s best to have a plan B to ease the pressure of finding the perfect fit within a certain time frame. Give yourself some extra time if needed by simply renting or using an extended stay until you can find your home. I often see a spouse and family stay in the old house until the new home is secured so that you only make one big move.
Number 5 Find a good Realtor and ask them to set you up on the MLS Autonotify. Every commercial home search, like Zillow as an example, will gather data from the MLS system. The downside to using a second-party system is the lag time and the inaccuracies… especially on homes no longer available. The Redfins and Zillow sometimes take days to get all the updates and that can be frustrating when you want to see something right away and find out it is already in pending status. The MLS will notify you within minutes after an agent puts in a new listing or when a property changes status from available to pending.
Number 4 Be sure to research School Districts and commute times. Although school districts listed on MLS sheets are deemed to be accurate… be sure to do some quick research before you make an offer. School districts can change and it is not the listing agent’s responsibility to keep up with current district changes, so if you are looking for a specific school district… do your homework. Also, make sure and run a google map search to check commute times, be sure they fit your guidelines.
Number 3 Research your must-haves in an area. When you make decisions on an area of town or neighborhood, be sure the site includes the amenities that you desire and are in convenient proximity. As an example, my wife and I like to shop at whole foods and enjoy working out and hiking. We chose a home convenient to all three. If it’s not convenient, you might not find the time.
Number 2 Be flexible with home search parameters. Sometimes that perfect house is the one you least expect. Set up your parameters with some flexibility, you might find a hidden gem or a fixer-upper. I encourage you to see more to find less, meaning do your homework… look at a lot of properties… get to know the market and the areas of town. This brings me to another point, if you are relocating, spend some time with boots on the ground if possible. Come to town and drive around for a few days or a week. Get to know some areas you like. Of course, virtual tours are will be an important tool, but seeing the area is difficult to capture on video.
And number one!… Get your finances in order and get prequalified or better yet, get preapproved for your loan. Most sellers are asking for a prequalification letter to be submitted with your offer so you can reassure them you have the capacity to buy their home. In a Preapproval, the bank has actually verified your financial documents and credit, making it the stronger offer. Of course, a verified all Cash offer would be the best offer in most cases. Current Statistics show that 25% of all offers are cash offers.
So, there you have it, the top 7 things every buyer should know before you buy a home. If you found this video helpful, please share a comment down below… and be sure to hit the subscribe button if you like what you see. This is Mick Weber… I hope you find the house you’ve been looking for… have a great day!
