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Great Tips for Homebuyers

 

If you are thinking about buying a home anytime soon, then the following tips can help to make sure you are doing things the right way.

First, make sure you have preapproval for getting a mortgage before you actually make an offer on the property. The reason for this is simple. You do not want to make an offer higher than you are able to afford. You need to know exactly how much you will be able to get. When you have a preapproval letter from your lender, it shows the seller that you are serious about your offer and that you really do want to buy.

Second, avoid bidding wars. While this might be a dream for the person selling the home, bidding against other people and driving up the price can be a strain on your wallet. If the price for a home keeps escalating because of other potential buyers, it might be time to step back. You don’t need the property so much that you overspend and end up causing more financial problems down the line. Find another property instead.

Third, when you are buying, always make sure you have enough money to cover the closing costs. In some cases, you might be able to get the seller to cover the costs, but that’s not always possible. Have money set aside for closing and other expenses that can crop up during the buying process.

Finally, make sure you get a home inspection. Without an inspection, you have no idea what’s actually happening with the property “beneath the surface”. Even though things might look great, you really do need to make sure you have someone there who can look at the wiring, the plumbing and the other systems to make sure everything is in good working order before you buy.

Resource: http://www.homeadvisor.com/article.show.5-Smart-Tips-for-Home-Buyers.12095.html 

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Do Not Make These Home Inspection Mistakes

Most people realize that they need to have a property inspector come out to the home they are considering buying, but they don’t always realize there is a bit more to the process than simply choosing the first inspector they find. In this post, we’ll look at some of the most common mistakes and problems that people have when it comes to the inspections.

Sometimes, buyers who are building a new construction home don’t feel as though they need an inspection. This could be a huge mistake though. Even though the home might seem as though it is up to code and has passed inspections by the county or city, you need to have an inspection that you pay for just so you can be sure everything is up to par with the home. Never assume that things are right just because they are new.

Some homebuyers do not even go along on the inspection of the property because they know they will receive a written report. Even though they might get a report, they really do need to go on the inspection so the inspector can actually point out the problems and explain them more clearly.

Buyers must always follow up on the findings and recommendations from the inspectors before they close on the property. They need to make sure that the sellers know about and correct the issues, or come to an agreement where they lower the price of the property, for example. If the seller decides to fix the issues, the buyer should have the same inspector return to the property after the repairs are complete to make sure they actually fix the issue and are not merely providing a cosmetic fix.

Finally, some buyers feel that they don’t really need to have an inspection after all. They trust the seller. Even if the seller is trustworthy though, you need to have a professional opinion on the condition of the house.

Resource: http://www.bankrate.com/finance/real-estate/5-biggest-home-inspection-mistakes-1.aspx