Have you been feeling like looking for your dream house has become like searching for the elusive big foot? That’s because there’s no big foot, but with a little help from your real estate agent, you sure can find your dream house.
Here’s a scenario:
They said buying a house would be easy. So, I took my search to the internet and found these really cute houses in a nice suburban. The price listed was well under my budget, so I decided to call the number mentioned on the website. The house had been sold just two days ago. Bummer! My hopes were still high and every morning with my cup of coffee, I would start my search and call every damn number mentioned on the listings. Alas! Luck was not on my side. Every single number I called, the person on the other end of the line either said the house was sold or the there was no such listing (clue in my confusion), and that’s my story.
So, where did you go wrong? Was it when you were blindly calling people or was it when you decided to take your search online? Before giving you the answer, every first time home buyer should know this that there are certain steps that must be taken to stop yourself from buying the wrong house. Here’s what you need to do:
You chose your dream house but did you get pre-approved for the mortgage? Get all the necessary documents in order, so that the mortgage broker can prepare your letter with just a few enquiries. This pre-approval letter gives you an idea about the types of houses you can look at while keeping the price factor in mind. Add in the property taxes and homeowner’s insurance to this amount, and you will have a rough estimate of how much money you will need.
Invest in a Good Real Estate Agent
Get in touch with your local real estate agent to proceed with the next step. The biggest advantage a realtor offers is that they have knowledge about the real estate market. How do you know that the house listed online is being sold in the right price? Real estate agents compare prices and bring you the best deal that also has the potential to benefit you in the future.
Be Ready to Walk Away
You went and did it, didn’t you? You fell in love with the house! After your realtor ordered a home inspection, you found out that the house had too many problems to count. If your realtor thinks that the house is a good buy, then you can reconsider the option. And even if the repairs will be covered with the mortgage, be prepared to walk away if your realtor thinks you will be throwing away your money.
A real estate agent’s job is not just to find you a house by listening to your specifications. They makes sure that the house is a good fit for you by giving you advice on how to finance the purchase and making sure that you have a solid plan of action. Steve Bhalla is a real estate agent who’s an expert at helping people buy and sell houses.
Visit SteveBhallaTeam.com if you are looking to buy a property with help from expert real estate agents in the market.