Warning to Buyers

Unless you have a great deal of experience and are very knowledgeable about Real Estate and the Law, we strongly recommend you seek professional help. For the minimal cost of professional services available through companies we would be happy to refer, a buyer might save themselves many hours of frustration, thousands of dollars, and even avoid possible legal actions. Using a professional will not only go smoother but could save you considerable.

Things to Know Before Making an Offer

Know The Value Of The Property You Are Buying. Like any large investment, the trick is to buy right. Most of us do not mind paying a fare price, but how do we determine fare? Is it the price the seller asks? Is it the price the house sold for down the street? Do we even know what the home down the street sold for because there could have been $10,000 in concessions?

There are a multitude of variables that will affect value substantially; location, style, square feet, bedrooms, bathrooms, fireplaces, age, parking, lot size, and the list goes on. Without experience, knowledge, and access to pricing information; it would be impossible for anyone to determine what the fare market value is. A buyer is just gambling if they make an offer on a property without professional help. We recommend talking to a licensed appraiser or realtor before making any offer.

Know The Property. Too many times a buyer will purchase a property without performing their dew-diligence, only to find out later that some material fact was not known. Had they known that fact, they would either not have purchased the property, or there would have been a considerable adjustment in price. By law a seller must disclose material facts, but unless a buyer knows what to ask for and how to ask, it is not likely that the seller will volunteer the information. The best way to stay out of court is to make sure everything is disclosed up front.  This can best be accomplished by obtaining the services of a licensed home inspector and/or a realtor.

Understand Real Estate Contracts, Disclosures, and Notices. You may have heard it said that, the attorney that defends himself, has a fool for a client". Even though the attorney has the schooling, knowledge, and experience to defend others, it would not be wise for the attorney to defend himself. If it is not wise for the attorney, how much more unwise for someone that does not have the experience and knowledge? The same can be said for a buyer preparing his own contracts. The proper preparation of contracts and the handling of disclosures and notices is the key to a smooth transaction and staying out of court.  

Are You A Good Negotiator? In the United States , most of us have lost the fine art of haggling. When we go to the store, the price that is on the item is the price we pay. With real estate the price is only a starting point and is not set until both parties finally agree. When going through this process, having an experienced real estate negotiator can make a huge difference. Most buyers feel uncomfortable asking a seller to drop their price. The small amount that you might pay a professional to be your agent might be nothing in comparison to what a professional agent might be able to save you.

Know Your Financial Options Before You Search. Before searching for a home we suggest obtaining detailed information on the mortgage needed and get pre-approved.  It takes a tremendous amount of time and expense to find a home and if you cannot qualify for the loan you want, all of your effort could be just a waste of time. 

Finding the correct program for you will give you the information that every Buyer needs. How much home can you qualify for? What are the risks associated with different loans? What are payments with different programs? What loans are available for people who: have no money, can not verify sufficient income, have bad credit, buy investment properties, and a multitude of other situations. It is "TOTALLY FREE" to find out, so why not save yourself a lot of time and emotional disappointment down the road.