How can we help you find the perfect property in
4 Easy LOW KEY Steps with us…
1) We will e-mail you our meet with you and provide you with access to all the listings in
2) We encourage you to take this list of homes that meet your needs and drive around your self and decide which homes and neighborhoods suit your needs before we start showing you the inside of properties. We will provide you with a city map with the homes plotted on the map to make it simple. This saves all time and energy.
3) As you compare the best deals, we'll provide you with important information about the home, its neighborhood, zoning issues, utilities, and nearby plans for development.
4) Help you with recommendations of local mortgage lenders/banks for your financing.
Most importantly use our years of experience with
The following is information that will help you in the buying process.
DOWN PAYMENT & CLOSING COSTS.
First, most lenders request a down payment of at least 20 percent of the cost of the house. For some people, saving this amount of cash can be difficult to achieve, especially if unexpected costs come up such as tax payouts. However, home ownership is still possible as several programs are available which allow buyers to make down payments significantly less such as only 3 percent of the price of the home.
Particularly relevant for first time buyers and for those who haven’t been in the market for some time, additional dollars should be saved for an estimated range from 1 to 3 percent of the value of the home for “out of pocket” or additional closing costs. Closing costs vary from state-to-state, city-to-city and even from home-to-home. Some examples of national averages include tax services, which can run an approximate $85.00, credit reports for approximately $20, and appraisals for approximately $350. Closing costs can also include fees relating to attorney time, home inspections, title searches, bank fees, and termite, flood or radon inspections to name a few. The mortgage lender requires some of these services and others are legally necessary depending on where the buyer lives. While not a requirement, extra dollars can be wisely spent if earmarked toward a home warranty, which guarantees the appliances and inner workings of a home for the first year it is owned.
Consumers can further evaluate their options in down payments and balance them against some predicted closing costs directly with their lender. With the alternative being renting, consumers are wise to understand their options since owning a home would literally and figuratively may be a possible tax shelter.
How to Win a Bidding War without Paying the Highest Price
When the demand for houses in a sizzling marketplace outweighs the supply of houses available, many consumers think the highest offer is a sure-fire way to claim ownership of their dream home. In today's fast-paced market bidding for a house doesn't always require upping the stakes.
Accommodate the seller. As a buyer, you have to be flexible and willing to sacrifice a bit. Whether it's being willing to close one month earlier or later, do your best to meet the seller's desired closing time. Additionally, be willing to overlook the more minor and but less-than-perfect characteristics of a given home because other prospective buyers may not be able or willing to do so. "If the seller is under pressure and wants the house sold quickly, they'll prefer to work with the buyer that can accommodate them the most.
Prepare. If you are willing to make the investment, then you must be a qualified, solid, desirable buyer. Get a copy of your credit report and settle any debts that may be outstanding. You'd be surprised how many people get turned down for a loan because of an old debt they had forgotten all about. Get pre-approved for
loans and mortgages. The seller wants and needs an ideal buyer, someone who is stable and ready to make a commitment to the property.
Connect with the seller. Create a rapport with the seller and let them know why you prefer their house to others. Homeowners are emotionally connected to their home, even when selling their home; they often feel tied to the integrity of the house. Because the seller loves the house, they are usually inclined to sell it to someone who will love it too.
Clean up your act. Eliminating as many contingencies as possible will give you an advantage when involved in a bidding war. If you have a home to sell before purchasing, sell it first. Reducing uncertainty makes the buyer more appealing to the seller and will create leverage for the buyer.
Show them the money. Be willing to increase the size of your deposit payment or make an all cash offer. Sometimes the best way to win a bidding war and avoid paying a higher price is to increase your down payment, sellers favor strong buyers. If you can afford to make an all cash offer, do so that's almost always a definite way to slam-dunk a sale.
Work with the best in the biz. Be sure to choose a sales associate who has an excellent reputation with other agents. Working with a sales associate who is known in the industry for their professionalism, credibility and honesty will always work in the buyer's favor.