Buying a home

Also check out the many buyers reports at the bottom of this page
 
Buying a home can be both exciting and frightening!! It is probably one of the biggest financial investments you’ll ever make. You’ll not only have to live with your decision, but you’ll have to live in it, so you don’t want to make any costly mistakes.

 

Before you start looking for your “dream” home, organize yourself by considering a few basic questions:
 
  • Who could help me find my home?
  • What are my housing needs?
  • What are my choices?
  • What is my monthly budget?
  • What can I afford to spend?
So You've Decided To Buy A Home!

Buying a home is more than looking at houses. It's finding the right home, at the right price, in the right location, and hopefully with a minimum amount of time and inconvenience. The best way to achieve these objectives is to work with a professional Realtor who understands your needs and wants, your time frame and the financial boundaries to work within.

 

Selecting A Realtor:

It is important that your Realtor understands your needs. A good Realtor will define your needs before they start to show you homes. Here are some questions you should ask a Realtor when making your selection:

·         How long have you been in the Real Estate business?

·         What type of guarantee’s do you offer?

·         How many homes do you sell each year?

·         What area do you work in? 

·         What areas do you feel you are most skilled in? 

·         Can you do a complete cost estimate based on my price range? 

·         Why should I choose you as my Realtor? 

·         Can you supply any letters of recommendation from past clients? 

·         What standard practices do you use to protect me as your client? 

·         Who pays your fee and how much? 

·         Do you know of any other services that would benefit me? (Bankers,  Inspectors, Lawyers) 

·         How are you going to find the right home & what do you do differently from other Realtors? 

·         Will you be representing my best interests? 

·         Do you have access to M.L.S. information? 

·         Would you provide market evidence to support the price? 

·         Will you look after the details to closing and possession? 

·         Can you be contacted at any time?

 

A Realtors Function: 

·         Provide information on all properties. 

·         Provide information on the area. 

·         Negotiate a price and terms, agreeable to the buyer and seller. 

·         Assistance in arranging financing, building inspectors etc.

 

Working With A Realtor:

 Let your Realtor do the searching, the best buys are not in the newspaper ads. In fact, most opportunities are on "hot sheets" available every morning to Realtors with access to M.L.S. information. Once you connect with a Realtor, they can do a more complete search for you. A Realtor will commit their time to you, if you will commit your loyalty to them. If you play the field, you cannot expect undivided attention.

 

Buyer's Contribution: 

·         Provide details of your property needs. 

·         Describe what would be a suitable location. 

·         Provide financial information. 

·         Communicate your likes and dislikes on each property.  

·         Commit your loyalty to one Realtor.  

·         Respect and perform the terms of the purchase agreement.

 

Working together as a team, with a professional Realtor you respect, should achieve those objectives you seek - the right home for you.

 

Establishing a Market Value:

Market value is based on what others have been prepared to pay for a similar property, under the same market conditions after reasonable marketing exposure. Market value is a fair price for both buyer and seller. It is what is called an "arms length" deal, and that means that there were no influences other than the market influencing the deal. You may of course pay more than established market value if your desire for the property warrants it. Conversely, you should not expect to pay less than established market value unless the property is being sold under duress.

 

Qualifying For Your Mortgage:

Once you've made up your mind to buy a home, the first question that comes to mind is, "How much can I afford?" The financial aspects of buying a home do not need to be confusing. Terry Marion can arrange to have you pre-qualified for a loan before you start shopping. Most lending institutions will only allow approximately 30% of a person's income to support a mortgage. They will usually not allow more than approximately 40% of income to support a mortgage together with other debts. The amount of money you qualify for, plus the amount of cash you can put down, will equal the amount you can afford to spend on a home.

 

To Buy A Home Call:

 

Terry Marion
Realtor

Get Real Estate Information At: http//www.terrymarion.com


Email: terry@terrymarion.com

Cellular Phone: (604) 644-7237

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Terry Marion,
Dec 22, 2012, 12:11 PM
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Terry Marion,
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