Advice for first time home buyers
_ Buying a home is considered the third most stressful thing in the world. Things can go wrong very quickly, but you can avoid some mistakes by being prepared! As Shakespeare once said “…readiness is all!”
Don’t rush to buying a new home without knowing your numbers.
Talk to your financial adviser and work on your credit, pay your bills on time, get a pre-approval letter that will let you know how much you can afford.
Know how much is your downpayment, closing cost, and moving expenses.
_ Once you know your budget, start looking for the right agent for you and sign a buyer agency. Don’t pick an agent that is too busy or too lazy. Choose a dynamic agent that share your vision of a dream home.
Choosing the best agent is essential for a successful real estate transaction. Your agent represent you on the market they can choose the right home for you as soon as it hits the market. When I get a new client, I set up a search on the MLS based on their criteria. As soon as a home hits the market an automatic email get send to both my clients and I so we are the first to request a showing and eventually write offers.
_Going to Open Houses sometimes can help you get your feet wet. It will also help you determine your must haves in a home. The best part is that there is no string attached. In some areas agents will hold an open house on Friday afternoon or on weekends.
_ Once you find the right home and the best agent for you its time to ask your agent to schedule showings for you. Always ask questions during showings, remember this is one of the most important purchase you will ever make. Don’t rush, but don’t take too long to decide either.
_Real estate can be tricky. Sometimes, the home of your dreams can be taken away in a blink of an eye before you even get to see it.
When submitting an offer to the seller, make it appealing. Human beings attention span is generally very short: 8 seconds. Make your offer clear, precise and interesting. Show the seller that you are ready and willing to buy this property.
_Depending on the market, adding contingencies to your offer can be a good protection for you. I always explain to my first time buyers the risks of waiving contingencies especially home inspections or appraisal contingencies.
After resolving all contingencies it’s time to get ready for closing.
In the state of Wisconsin you have 3 days to do a final walkthrough and check the house once again. If fixtures are missing, you can still let your agent know. Seller might bring them back.
_ Do not make any big purchases before closing. Closing is the most amazing day for all parties. It’s the end of a chapter and the beginning of a new one.
Be on time for closing, sign all required documents and get your new keys and garage door opener’s.
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