Why Use a Realtor When Buying a Home!

A real estate agent can help you understand everything you need to know about the home buying process.

Not all real estate licensees are the same: only those who are members of the National Association of
Realtors are properly called realtors.

Realtors are committed to treat all parties to a transaction honestly. Realtors subscribe to a strict Code of Ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reported that 84% of home buyers would use the same realtor again.

If you're still not convinced of the value of a realtor, here are more reasons to consider;

• Your realtor can help you determine your buying power.
• Your realtor has many resources to assist you in your home search.
• Your realtor can assist you in the selection process.
• Your realtor can help you with negotiations and inspections.
• Your realtor provides due diligence during the property evaluation.
• Your realtor can assist you in finding qualified responsible lenders.
• Your realtor can provide a title search for your property.
• Your realtor can help you understand financing options.
• Your realtor can guide you through the closing process.

How to Choose a Neighborhood for Your Home Search

Narrow your home search by identifying neighborhoods that are right for you. This helps keep your search focused and efficient. Your realtor can offer neighborhood information to guide you in your search.

When evaluating a neighborhood you should invenstigate local condition. Depending on your own particular needs and tastes, some of the following factors may be more imprtant considerations than others;

• quality of schools
• property values
• traffic
• crime rate
• future construction
• proximity to schools
• employment
• hospitals
• public transportation
• prisons
• freeways
• airports

Neighborhod search Strategies for limited Budgets:

If you're a first time-buyer with limited financial resources, it's wise to buy a home that meets your primary needs in the best neighborhood that fist within your price range. You can maximize you home purchase location by incorporating some of the follo0wing strategies into your neighborhood search;

• Upcoming neighborhoods; Look for communities that are likely to become "hot neighborhoods" in the upcoming years.
• Check for planned future development such as additional trasit; new community services (poos and theatres) or chain stores.
• If commuting is a concern, purchase a home that is close to public transportation.
• Neighborhood demand; Look at the neighborhood demand by asking your real estate agent whether multiple offers are being made, where the gap between the list price and sale price is decreasing. You can also make a note of how many "Sale Pending" and "Sold" signs are in a particular area.
• Co-ownership; Look into purchasing a condominium or co-op, rather than a house, in a desirable neighborhood. This way you still may be able to purchase in a prime area that you otherwise could not afford.

Take Charge When Buying a Home

If you approach the home buying process intelligently and with confidence, you are much more likely to buy a house you'll be proud to call home. Approaching the task of buying a home can b overwhelming; there's so much to consider.

Here are the two most important things to remember no matter where you are on the road to buying a home.

1. You can and should understand everything that is happening in the home buying process. You'll need to learn some new terms, apply some new concepts and take the time to understand.
2. In the world of real estate sales, YOU are the most important person in the process. It's easy to thing that everyone else carries more weight than you.

So flex your consumer muscle and take command of this process. Surround yourself with a team of professionals that you have confidence in and make them work for you.

Approach home buying with intelligence and confidence, and by doing your homework, and you are more likely to buy a house you're happy with and to know that you made the right decision.

Home Inspections

Suppose you bought a house and later discovered, to your dismay, that the stucco exterior concealed a nasty case of dry rot. The best way to avoid unpleasant surprises like these is to arrange for a home inspection before you buy.

Home Inspections Help You Avoid Unpleasant Surprises:
A good home inspection is an objective, top-to-bottom examination of a home and everything that comes with it. The standard inspection report includes a review of the home's heating and air-conditioning systems; plumbing and wiring; roof, attic, walls, ceilings, floors, windows, doors, foundation and basement.

Getting an Inspector:
Your real estate agent can usually recommend an experienced home inspector. Make sure to get an unbiased inspector.

An Inspection will Educate you about Your House:
Education is another good reason for getting an inspection. Most buyers want to learn as much as they can about their purchase so they can protect their investment.

Ask if you can follow the home inspector on his or her rounds. Most inspectors are glad to share their knowledge, and you'll be able to ask plenty of question.

Inspection Timing and Results:
Home buyers usually arrange for an inspection after signing a contract or purchase agreement with the seller.

You can include a clause in your purchase agreement that makes your purchase contingent upon satisfactory inspection results. If major problems are found, you can back out of the deal. If costly repairs are warranted, the seller may be willing to adjust the home's price or the contract's terms.

The Basics of Making an Offer

• A written proposal is the foundation of a real estate transaction

Realtors have standard purchase agreements and will help you put together a written, legally binding offer that reflects the price as well as terms and conditions that are right for you. Your realtor will guide you through the offer, counteroffer, negotiating and closing processes.

• What is in an Offer"

The purchase offer you submit, if accepted as it stands, will become a binding sales contract (known as a purchase agreement, earnest money agreement or deposit receipt). So it's important that the purchase offer contains all the items that will serve as a "blueprint for the final sale."

Contingencies -"Subject to" Clauses

If your offer says "this offer is contingent up (or subject to) a certain event." you're saying that you will only go through with the purchase if that event occurs.

• Negotiating Tips:

You're in a strong bargaining position, that is, you look particularly welcome to seller, if:
• you're and all-cash buyer.
• you already have a pre approved mortgage and you don't have a present house that has to be sold.
• you're able to close and take possession at a time that is especially convenient for the seller.

Buyers: the Seller's Response to Your Offer:

You will have a binding contract if the seller, upon receiving you written offer, signs and acceptance just as it stands, unconditionally. The offer becomes a firm contract as soon as you are notified of acceptance. If the offer is rejected, that's that - the sellers could not later change their minds and hold you to it.

Sellers: Counter offers

When you receive a purchase offer from a would-be-buyer, remember that unless you accept it exactly as it stand, unconditionally, the buyer is free to walk away. Any change you make in a counteroffer puts you at risk of losing that chance to sell.