4 Techniques Every Home Buyer Needs under Their Belt

Written by  //  2018/06/18  //  Buying a Home  //  No comments

home buying techniques

It can be a daunting task trying to purchase a home if you’ve never done it before. There’s so much to consider when it comes to finding the right home for you. Once you know what you’re looking for, the process becomes a little easier. Here are some techniques that you should have under your belt before moving forward with your purchase.

It’s All about Timing

When you decide to start looking for a home does make a difference. There are generally more homes on the market during the late spring and summer. This may be the right time to buy since the market has so much to offer. Another thing to consider is how long a house has been for sale. The home owner is more likely to accept a lower offer that is within reason if their home isn’t generating much interest. Time your purchase around these considerations so that you can get the most for your money.

Get a Handle on the Comps

Once you’ve found the right home, investigate other comparable houses that have sold. This will give you a baseline of the average price per square foot. Just because someone is asking a higher price for a comp doesn’t mean that this will be the sale price. Often agents and sellers will base their price on what other homes have named as the list price. You have to compare sold homes to get an idea of what a fair asking price would be for the home that you want.

Skip the Middleman

Many people assume that you have to go through a realtor in order to find and purchase a home. Some of the best ways to get the best deal are to cut out this so-called middleman. There are plenty of ways to sell a house without a realtor, you just have to get creative. Offering directly to the seller can help you both win when it comes to the sale. They don’t have to pay the commission to the realtors. You may be able to negotiate down the price based on the fact that this commission can be taken out of the equation.

Consider Your Lending Needs

Have the financing that you need for your purchase squared away before you start shopping for a home. This will give you the most power when it comes to making an offer. Oftentimes, people will make an offer contingent upon being able to secure financing. This could cause you to lose out on the home that you want. Someone else may come in with an offer that’s more appealing to the seller.

Always do your research on any home that you’re considering. Another good thing to do is to have a home inspection completed. This will protect you from making a bad decision.

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