Life...Fun and Kentucky Real Estate

head_left_image

8 Important Things To Do Before Looking For A New Home

Don't Start Looking For A Home before You Read This!

1.Find a REALTOR whom you can relate to. Buying a home is an emotional commitment. It's critical that the agent you choose is both skilled and a good fit with your personality. Have your own agent show you homes, not the listing agent. Call your agent if you see a home you want to tour. 

Your Realtor will make all the appointments and represent YOU in the offer. The listing agent represents the seller and cannot disclose all that you will need to know about the property & the seller. 

Find an agent that makes his or her career full time in real estate. Agents usually know one another so if you are unhappy working with an agent and want to change to another please let them know that you will be doing so. This alleviates miscommunications and it's just the right thing to do. An agent will work hard for you if you are loyal.

2. The right house is waiting for you. Sometimes deals just don't work out. You will know as soon as you walk into the perfect home. Everything will fall into place perfectly if it is meant to be. If not...keep looking and stay open to new ideas. If it feels right then make an offer...don't procrastinate.

3. Commission is paid by the sellers. This is how your agent gets paid. Basically, the seller has agreed with his listing agent an amount to pay the buyer's agent at closing. Your agent may show you homes for a long time or it might only be a few homes. 

All negotiated commission is divided among the agents at closing.The buyer will not have to pay for this.

4. Don't ask for too many opinions from friends and family. It's natural to want reassurance for a big decision, but too many ideas will make it harder to make a decision. If Grandpa is not going to live in the house he isn't going to like all those steep stairs, pool, etc. 

Negative opinions can spoil all your excitement.


5. Accept that no house is perfect. Focus in on the things that are most important to you and let the minor ones go.

6. Don't try to be a killer negotiator. Trying to "win" by getting an extra-low price may lose you the home you love. Angry sellers do not try to be helpful if you need special considerations later before closing like extra time to get the financing right. Don't be stubborn over the small stuff.

7. Get approved for a mortgage before you find a home. A good lender will see your credit report and offer help in disputing items that need to be removed. This will raise your score and possibly get you a lower interest rate. Not all lenders are skilled in this.

Same as with your agent the lender needs to fit with your personality and return your calls promptly. The best ones stay in close contact with your agent also. You can bet that your agent has a good idea of the best lenders to work with to get a successful closing.

It can all fall apart by closing time if you don't have the right lender.

8.Factor in maintenance and repair costs in your post-home buying budget. Even in a new home there will be some costs. Homes are not perfect and even though you have had many repairs made after a home inspection sellers are not going to patch every hole in the walls and leave it
spotless. You may have to shampoo carpet and upgrade fixtures to your liking. It's all a part of buying a home.

Kentucky horse farm - Lizette Realty - 859-979-2834

REQUEST A KENTUCKY RELOCATION PACKET!

 

LEXINGTON KY RESIDENTIAL HOMES FOR SALE

RICHMOND KY RESIDENTIAL HOMES FOR SALE

undefined

Lizette Fitzpatrick- Principal Broker at Lizette Realty.

For more information on Kentucky Horse Farms and Lexington KY real estate

click on Lizette.us.

Copyright 2011 by Lizette Fitzpatrick

8 Important Things To Do Before Looking For A New Home

Comment balloon 1 commentLizette Fitzpatrick • June 03 2011 10:33PM

Comments

A very nice post.. The only thing I think I would question is who pays the comission.  There are articles that state that the commission come out of the proceeds,,, thus the buyer is paying the commission.... the buyer brings the funds and the seller has the deed... so it really comes out of the transaction from both the buyer and the seller.

Posted by Joan Whitebook, Consumer Focused Real Estate Services (BHG The Masiello Group) almost 7 years ago

This blog does not allow anonymous comments