I have no idea on the procedures of buying a home and feel I am less than qualified to do so...But i have seen miracles happen. Any advice or secrets and tips?
2007-12-09 02:59:25 · 6 answers · asked by vixxen 5 in Business & Finance ➔ Renting & Real Estate
Success could come from a miracle, but it can also come from smart work. I said "smart" work, not necessarily "hard" work. I see people every month thinking that what they need to do is see every house they can, on their own. Some take notes. Some take pictures. They gather lots of conflicting information from a variety of sources, but don't know how to differentiate between the value of an experienced local Realtor and a newspaper headline; between a good loan agent and what their hairdresser said. They become exhausted and discouraged. Sometimes they buy from who is just handy when they give in. Like any other project preparation is the best key to success, but frenzied activity is not preparation. Get a few good advisers: Realtor, loan agent, and building trades people. Ask your Realtor to explain the buying process and show you the typical documents before you are under pressure. Also discuss the difference between value and price with them. Likewise ask you loan agent to explain the different loan products available. Be willing to pay a bit more for your loan to get a fixed rate and be more secure in what your monthly payment will be. Focus on particular neighborhoods that you find both affordable and desirable. Then go look at houses.
2007-12-09 03:15:42 · answer #1 · answered by artwhiterealtor 3 · 1⤊ 0⤋
If the list price say that the home is worth 399,000 dollars then you could negotiate a price. The first step in doing this is to find comparable homes that have sold in the area. If the homes are selling for less then the price then you can understand what the price is.
Also look at how long the house has been on the market. Has the person been trying to sell for a long amount of time? If so they might be motivated to sell.
Finally, know what you are willing to pay for the house. Is the the only house you would ever want to live in or are you willing to keep looking if you don't get this house.
2007-12-09 11:08:10 · answer #2 · answered by T.J. McMillan 2 · 2⤊ 0⤋
I think a lot depends on how quickly the seller needs to sell their home. Obviously, the quicker they need to move, the lower of a price they will accept. Also look to see how long the house has been on the market, the longer, the better for you. If it has been on the market for a while, say over 120 days, I would at least start by offering $10,000 less than the asking price. The worst that can happen is they reject it or come back with a counter offer. Good Luck!
2007-12-09 11:12:16 · answer #3 · answered by Ripzone 2 · 1⤊ 0⤋
If it is worth $399,000 to you, then make an offer close to that. I have purchased several homes, start with a mortgage company or bank if you need financing and find out how much you can safely borrow, then look for homes in that price range.
2007-12-09 11:06:23 · answer #4 · answered by Anonymous · 1⤊ 0⤋
That is what a Realtor is for.
Would you defend yourself in court against a $399,000 lawsuit without an attorney? Of course you wouldn't...but you would sign a contract that will obligate you for 30-years without a Realtor's help?
Is the seller giving you a 3% discount for not using a Realtor?
Those are things you need to consider.
2007-12-09 11:12:04 · answer #5 · answered by Expert8675309 7 · 1⤊ 2⤋
If it's worth $399,000, that's what you'll probably have to pay, or something very close to that.
2007-12-09 11:01:57 · answer #6 · answered by Bostonian In MO 7 · 1⤊ 0⤋