You can find “experts” in real estate, but what and how much do they really know? Be wary as these folks were also around during the market crash. Read on to find some useful tips to help you navigate real estate and be a savvy buyer.
Ascertain that any real estate appraiser that you hire has a a minimum of five years experience. You should also refrain from utilizing the same appraiser as your real estate agency, or one that is recommended by it. You want to avoid any conflict of interest. Ensure your appraiser is state-certified or state-licensed.
If you are looking at signing a lease on a rental property with a garden, ask your landlord whose responsibility it is to maintain the garden. Some rentals will have the renter be responsible for yard clean up or garden work. Other places still will offer this service as an added monthly fee.
Look for homes that carry pre-foreclosure notices. If you can afford to wait before investing in a home, pre-foreclosure can be a good option. Pre-foreclosure properties are ones where the owners of them have risk of losing their home because of delinquency. You can search on the internet or talk to any lender for pre-foreclosure properties. You can also advertise your willingness to pay cash for homes. However you locate the owner of a pre-foreclosure property, you need to figure out how much he or she owes on the mortgage and make an offer a little higher than that amount. Few people owe the entire market value of their house, which makes this an attractive prospect.
It is vital that you contact a mortgage lender and get pre-qualified prior to searching for a new home. A giant reason is because you need to know if you will get the financing before you get your hopes up. Additionally, securing a mortgage is a lengthy process that can extend the home buying process.
When choosing an agent to assist you in searching for a home, ask this person the length of time he or she has resided in the area. If an agent has only recently started working in the area, or has just moved there, then this person will not be as knowledgeable of many details such as traffic conditions and community relations. This is especially true if they are compared to someone who has been there for some time. An agent with 10 or more years of experience in your area is ideal.
It is wise to do your homework in the real estate market, rather than listening to self-proclaimed experts. How did the market collapse then when they supposedly knew all? Stay away from people who “know everything” Reading articles like this will give you the information you need to make a wise decision.
Buying a home is a major investment as a first time home buyer you need all the help you can get. Make the process fun and easy, get the information you need here with the “FREE Home Buyers Guide To Success”