Tips on Buying

Increase your chances of getting your dream house instead of losing it to another buyer, with these easy steps.

1. Get pre-approved for a mortgage. This means that you have furnished the lender with all the required paperwork and have received a firm commitment. You’ll be able to buy and make your offer more desirable to the seller. 

2. Stay in close touch with your real estate sales agent to find out first about new listings that come on the market. And be ready to go see a house as soon as it goes on the market.

3. Be ready to make a decision. Spend lots of time in advance deciding what you must have so you won’t be unsure when you have the chance to make an offer.

4. Bid competitively. Don’t try to outsmart the Seller by making a low offer. You may not want to start out offering the absolute highest price you can afford, but don’t try to go too low to get a deal. You’ll end up with a higher counter-offer or the Seller won’t want to negotiate with you.

5. Keep contingencies to a minimum. Restrictions such as needing to sell your home before you move or wanting to delay the closing until a certain date can make your offer unappealing.

6. Don’t get caught in a buying frenzy. Just because there’s competition doesn’t mean you should just buy anything. And even though you want to make your offer attractive, don’t neglect inspections that help ensure that your house is sound.

7. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself—room size, kitchen—that you forget such issues as amenities, noise level, etc., that have a big impact on what it’s like to live in your new home.

8. Remember, there’s no “right” time to buy, any more than there’s a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long.