There are a lot of shady real estate "gurus" out there, but are they really all that knowledgeable? Because of these people, you need to get involved in the transaction and make educated decisions yourself. Check out these tips to help you navigate the waters of the real estate game.
Every real estate agent should contact former clients at holidays and at anniversaries of their purchase date. They will remember how you helped them with their home buying experience. When you are concluding your greeting, remind them you would love to be referred to friends or family, because referrals are how you earn your living.
A smart real estate agent will keep good contact with clients long after the sale, sending holiday cards and noting the anniversary of the home's sale. When they hear from you again, they will know that they helped during your buying selling experience. End your message by reminding them you work on a referral basis, and ask them if they would be willing to refer you to their friends.
When house hunting, you should take into account what may happen in your future. If you are planning on having kids, make sure that you purchase a home that has a good school nearby.
When you are looking to make a great investment on your real estate, you should consider doing some repair and remodel work. The good thing is that you will get a good profit from your investment when you repair a fixer. Sometimes, the property value will increase more than your investment value.
When you are buying a property, have some extra money so that you can pay for costs that you did not expect. Buyers should figure the closings costs by adding together, points for the bank, down payment, and real estate taxes. However, there are almost always local fees and other costs that can hit buyers unexpectedly. These will vary by location.
See if your Realtor can provide a checklist. Checklists cover each step of purchasing your home. They help you through the process of finding the home, making sure you can afford it and securing a mortgage. Such a checklist enables you to dot all i's and cross all your t's.
If you have your eye on a home, you know what the seller wants for it but what you actually offer is something else entirely. You can work with the seller to try to determine a final price that is agreeable to both of you.
You can request that the seller help out with closing costs or sweeten the deal with other financial incentives when you make your offer on the house you have in mind. For example, it may be to your advantage to ask for an interest rate "buy down." If there are financial incentives added into the offer, it's much less likely that the seller will focus on renegotiating the selling price.
There are things you can negotiate when trying to land a real estate deal. See if you can get the seller to contribute something to the closing costs or pitch in with another financial incentive. For example, you might request that the seller buy down the rate of interest for a couple of years. By asking for financial incentives, you are possibly keeping the seller from negotiating the selling price.
If a home has made your short list, have the home inspector get the home's dimensions. You should make sure that the size listed by the owner is the same as the size listed in the public records. The square footage recorded in both places should be no more than 100 square feet in difference. If they don't match, investigate further or reconsider the transaction.
It is not necessary to buy a home that has more than one fireplace unless the climate calls for it. All you need is one fireplace in the family room. It can truly be a pain to keep multiple unnecessary fireplaces clean.
When purchasing a foreclosed home, it is wise to assume that there will be repairs that will need to be made. Many of the foreclosed homes that are on the market have been vacant for quite some time. Regular maintenance has more than likely not been done on the home, which means significant repairs should be expected. A foreclosed home that has been sitting empty for a while may require pest control measures and a new HVAC.
As discussed in the start of this article, putting your faith in real estate experts may not be as advantageous as it may seem. If they were so smart, then how could the market implode? You need to avoid the scoundrels who think they know everything when they really know nothing. Instead, listen to the tips provided here, which will give you the most current information you need.
London Homebuyers Survey