Buying Tips

1)     Finding an Agent

·     Talk to friends and relatives to see if they can refer a trusted realtor.

·     Check with a local trade association.

·     Be sure to “interview” prospective realtors.  Find out how long they have held their license and the number of homes sold.

·     Consider working with a “Buyer’s Agent”.

2)  Shopping for a House

·     Determine how long you plan to live in your next home.

·     Make two lists – one of “must haves” and another of “prefer to haves”.  Rank items according to their importance.

·     Use the internet to search for information on prospective neighborhoods.  Many websites offer information on tax rates, schools, and crime.

3)  Applying for a Loan

·     A loan officer can help cut down the amount of leg work you need to do.

·     If possible, order copies of your credit report before starting the home buying process.

·     Make sure you get a complete list of fees before applying.

·     Always research the different types of loans available.

4)  Making an Offer

·     If using a “Buyer’s Agent”, they can help you determine a good offer.

·     Research the selling price of comparable houses in the area.

·     Considering whether the market is “hot” or “cold” will help you know whether to make your offer high or low.

·     Be prepared to negotiate.

5)  The Sales Agreement

·       The sales agreement is a legally binding contract issued between the buyer and seller.  It outlines all the details of the sale.

·       Consult an attorney before signing a sales agreement.

·       Know what options you have and determine whether an “escape clause” is necessary.

6)  Home Inspections

·       A home inspection is a way for buyers to know exactly what they are purchasing by searching for faults and defects.

·       Information found in a home inspection can help you renegotiate the selling price of the home.

·       You can find home inspectors either through your real estate agent or listed in the yellow pages.

7)  Closing

·       The closing is where the actual sale of the home takes place.

·       By law, you must receive a list of all your closing costs prior to the sale.  Speak with your lender if you are unclear about any charges.

·       It is a good idea to have your lawyer accompany you to the closing.