How to buy real estate - homes, land, commercial, farms

Published On: January 5, 2012


 

Buying real estate is like learning how to swim.  There are some steps that are necessary for the process to go smoothly.  First you have to find some water (right depth, size, temp.) and then you've got to have the will to get in the water.  Having someone who knows how to swim giving you instructions is a big plus.  Then you need to be diligent and practice your stroke until you are proficient.

Buying real estate is the same.  First you have to know what you want, where it is and how much you can afford to spend.

  • Pre-approval is a must anymore, your first stop should be your lender for a pre-approval letter.

Then you need to hook up with a reliable real estate professional who can guide your search.

  • Not all Realtors are Buyer Specialists - find a person who puts your interests first.  DO NOT only call listing agents (name on the sign) and switch from Realtor to Realtor, you won't get the best assistance from anyone unless you find that professional that wants to work with you.

Educate yourself on the market, what is available and how it matches your desires.

  • Everyone wants a "deal" and everyone wants that perfect property but if your dream does not exist, time to adjust the search.  Have your agent give you a list of all available properties that may fit your needs.

Tour, tour tour

  • Sitting at your desk looking at a computer won't get you the information you need to make a purchase - the photos aren't revealing enough, the details will be lacking.  You need to take a firsthand look at properties to really understand what is available.  Your Realtor can be your guide and will refine the search as you collaborate on the most desirable details.

Maintain your credit

  • Pre-approval is nice but don't let your credit history or financial well-being get dinged, save major purchases until after your real estate purchase.

Be serious about your offers

  • Realistic offers will smooth negotiations, low-balling can anger a seller and end negotiations before they can start.

Follow through and buy!

  • Loan applications, property inspections, providing financial information, contract changes - there is a lot of paperwork and information transfer that needs to happen before closing, be available and help keep the "flow" going.

Success!  Buying real estate can be an easy process and fun, but you have to know the ropes.

We at Century 21 are here to assist you.  Your expert Buyer Agents!