Five Most Powerful Buying Strategies

A new report has been released to identify the 5 most powerful buying strategies when purchasing a new home.

Whether you are a first-time buyer or making a move to your next home, this information is critical to ensure your purchase will be a smooth  experience, rather than an ordeal that will put stress and strain on you and your finances.

Imagine having industry insider information that will help you make informed choices and give you enough information to make a wise decision on your next purchase. Having the right information upfront can make all the difference.

1. Don't Get Pre-Qualified! Get Pre-Approved

You want to get the best you can get for the least amount of money!  Make sure you are in the strongest negotiating position possible.  Price is only one bargaining chip in the negotiations, and not always the most important one.

Often other terms, such as the strength of the buyer or the length of completion, are critical to a seller. Some buyers spend a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you pre-qualified and issues a certificate that you can show to a seller with a rate hold.

Sellers are aware that such certificates are WORTHLESS, and here's why.  None of the information has been verified!  Unknown problems can surface. For example; recorded judgments, child support payments due, glitches on the credit report, down payment funds that have not been in the client’s bank account long enough, etc. So the way to make a strong offer today is to get pre-approved.

This happens AFTER all information has been researched and verified  including employment history, credit history and affordability. You are officially APPROVED for the mortgage and the only loose end is the ,appraisal on the property and home inspection. This process takes nywhere from a few days to a few weeks depending on your situation. It is a VERY POWERFUL weapon and we recommend all of our clients to have it in their negotiating arsenal.

2. Sell First, Then Buy

If you have a home to sell, sell it before selecting the next home to buy! Let’s pretend that we go out looking for the perfect home for you. We find it and you love it! Now you have to go make an offer to the seller. You want the seller to reduce the price and wait until you sell your home.

The seller thinks that is a risky deal since he/she might pass up a buyer who DOESN'T have to sell a home while waiting for you. So the seller says O.K.; a subject to sale will be done but it has to be a full price offer! So, you, the buyer paid more for the property than you should have. Now you have to sell your existing home in a hurry because there is a 24-72 hour clause that says the seller can sell to someone else and you take the risk of losing your dream home!
The fact that you had to sell quickly might result in you taking an offer that's lower than if you had more time. The bottom line is that buying before selling might cost you tens of thousands of dollars.

3. Play the Game of Sixes

Before house hunting, make a list of six things you want in the new place. You can use this list as a scorecard to rate each property you see. The one with the best score wins!  This helps avoid confusion and keeps things in perspective when you're comparing dozens of homes.

When house hunting, keep in mind the differences between SKIN AND BONES. The BONES are things that cannot be changed such as the location, view,  size of the lot, noise in the area, school district, and floor plan. The SKIN represents changeable surface finishes like carpet, wallpaper, paint color, and window coverings. Buy the house with good BONES  because the SKIN can always be changed to match your taste. Consider  each house on its underlying merits, not the seller's decorating skills.

4. Don’t Be Pushed Into Any House

As your Buyer's Agent, we will show you everything available that meets your requirements. Don't make a decision on a house until you feel that you've seen enough to pick the best one. We will review the Multiple  Listings with you to make sure that you are getting a COMPLETE list or you can do it yourself by logging onto our website and viewing the MLS property search.

5. Stop Calling Ads!

A  word of caution, agents create ads solely to make a phone ring!  Many of the homes have drawbacks that are not mentioned in the ad, such as traffic noise, power lines, etc. What is not mentioned in the ad is usually more important than what is. Remember that the person writing the ad is representing the seller...not you!

The most important thing you can do is hire your own agent for free! Unless you actually hire a Realtor as your Buyer's Agent he or she is not representing you. Have someone on your side looking out for your best interests. Your own agent will critique the property with an eye towards how well it meets your needs and will point out any drawbacks you should know about.

Did you know that some homes are sold without a sign ever being displayed or an ad being put in the paper? These "great deals" go to those people who are committed to working with a Buyer's  Agent. When an agent hears of a great buy, who do you think they will call? Their client (who they have a legal obligation to help) or someone who just called and said, "Keep your eyes open"?

Why not give Moe a call to arrange a Buyer's Consultation where you will get to meet and know us on a more personal level and see for yourself we are the kind of people you would like to entrust helping with your next move.  We'd love to show you what a World-Class Real Estate Experience is all about.

For a Free Buyer’s Consultation call us at 305.992.5947or email us at ufirstregroup@gmail.com