There Goes Our Dream Home!
Nothing is more heartbreaking than to find the perfect house and lose it in the bidding or contract negotiation process. Unfortunately this scenario happens more often than we like in home buying. Still, there are some helpful hints that can help you crawl out of the lost home dilemma and get you into your dream home.
Get a Pre-Approved Home Loan!
Homes with great features, pricing and location are usually not on the real estate market very long. Having
your pre-approved home loan will not
only solidify your budget but can be a great negotiating tool. Pre-approval
signifies to home sellers that you are serious about purchasing and the sale
may move quickly.
Be Realistic in Your Search
A house with excellent upgrades
and features will cost more. If you have a "dream" home in mind, do
your research. Know what your "must haves" are and what your budget
can afford. You may find that shopping a bit further out in location can net
you a home with more features and will still leave some money in your wallet.
Do Your Research
Whenever possible know the home you are visiting before your step in
the door. Ask your realtor for information on the homes you plan to tour and review
the properties online beforehand. If a home has been on the market for a while
it could alert you that the property has some potential issues (found in home inspections) OR that the owners
may not be as committed to selling as you would hope.
*Keep in mind that your realtor may advise you to tour a home that is
fresh on the market and has been newly posted...do not let research hold you
back in these cases.
Do Not Try to Low Ball
A great home loaded with features in a prime location will not last on
the market long. Do not hinder yourself by trying to negotiate for a lower
purchase price if the home is being offered for sale at a fair rate. Also, be
prepared if you really want the house you may end up in a bidding war for it.
Put your battle gear on.
Do Not Count Yourself Out
I once knew a family who had placed a bid for a house and they lost to
another buyer. They were very sad but I told them to keep looking and not lose
faith. In the end, the sellers' first buyers could not get loan approval and
since the buyers I represented were next on the list AND already had a pre-approved home loan...they ended up with the
house.
Searching
for the perfect home can be a bit daunting but enjoy the ride. When you are
armed with a great budget, a pre-approved home loan and realistic expectations
you may find your dream home literally falls right into your lap.
If you need help finding your dream home or making your house the
perfect home for new buyers please visit my site
at http://www.pamsantoro. com/.
You can also contact me at 678-656-6627. As an experienced
member of both the National and Georgia Board of Realtors, I can answer any
questions you have about local market conditions, financing or selling your
home for the best market value.
Remember, no one
sells a home like a Mom!
Images
courtesy of:Stuart
Miles@freedigitalphotos.net, Renjith
Krishman@freedigitalphotos.net and Morguefile
Photo
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