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But what are the top 10 things to do if you buy a house!
(and I mean inspection, umm.. checking on back taxes, liens, talking to the neighbors.. whatever)
What are the things you learned/experiences "you didn't want or didn't work" after buying a house?
Location: A Very Naughtytown In Northwestern Montanifornia U.S.A.
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If you have found a house on some realtors site, you may want to go behind the realtors back and talk directly to the seller. Very often the sellers sales contract may have expired but the listing may stay on the site. This allows you to cut the realtor out of the deal and perhaps get a better price in the negotiation process.
I also think that if there is an employment contract in place with a realtor then try to only deal with the listing agent. you will get faster answers to any questions you may have about a property that is not mentioned on the listing info.
If you have found a house on some realtors site, you may want to go behind the realtors back and talk directly to the seller. Very often the sellers sales contract may have expired but the listing may stay on the site. This allows you to cut the realtor out of the deal and perhaps get a better price in the negotiation process.
I also think that if there is an employment contract in place with a realtor then try to only deal with the listing agent. you will get faster answers to any questions you may have about a property that is not mentioned on the listing info.
So, if you have no idea what to do when buying a home, you try to "cut out" the owner's agent and talk to the owner directly, or you don't have your own agent representing your interests. that's some advice you're giving.
.... Label them "must have", "nice to have", or "don't want"
Determine your "comfortable" price range
Obtain a pre-approval (not pre-qualification) from a mortgage broker local to the city where you will buy. A pre-approval means just that. It is very close to a cash offer as your loan is pre-approved for a given amount, and you will be able to offer a quicker close date when you make a purchase offer for a home.
Determine in what city you wish to buy
Check out some of the neighborhoods in the city to be sure that's where you want to buy
Find a good buyers agent by interviewing several on the phone
Have a face to face interview with one or more agents at their office to determine if you and that agent are compatible
If the area is a large metropolitan area, such as Phoenix, where one agent can not work the entire metro area, and you are undetermined what area to locate then you can talk to a couple agents in each area. Let them know that you may not buy in their area. Ask each if they will spend a couple hours in the field with you to tell them about their area to help you decide. If you decide on that area you will use that Realtor. Be honest up front and they will be willing to work with you on that basis for a couple hours.
There are agents on this forum who have a network of agents across the country, and you can send a direct message to any one of them, and they will probably be willing to screen some of their contacts for you.
As a buyer, driving neighborhoods and contacting listing agents from for sale signs is a waste of your time. The home you see may be great from the outside, but the price may not be in your price range, and the amenities may not be what you need. You and your buyer agent will be able to filter out all but the homes that fit your criteria.
> But what are the top 10 things to do if you buy a house!
(and I mean inspection, umm.. checking on back taxes, liens, talking to the neighbors.. whatever)
A couple thoughts here
- yes get an inspection
- a survey, unless there is a very good reason it is not necessary
- understand any deed restrictions, HOAs, etc.
- read and understand all contracts, addenda, etc., and get advice if needed
- visit finalist house at different times in the day
- look around carefully (and listen): airports, highways
- any major institutions nearby? Hospitals, etc. are notorious for bulldozing existing zoning restrictions
Some mistakes I've made after buying/selling in four states . . .
If for some reason you are compelled to go with an HOA home, get ALL the documents up front and READ THEM carefully, BEFORE putting money into the property.
Rental units -- Avoid a property with any close by. Renters will have huge impact on your quality of life. There might be a good tenant in now, but eventually, there will be a bad one, it's only a matter of time.
If you are buying from another state . . . RENT FIRST ! Cannot be stressed enough.
DO NOT expect your realtor to do that work for you even if they say they are. My two worst RE deals were related to these issues and our agents not following through on items they said they were.
> But what are the top 10 things to do if you buy a house!
(and I mean inspection, umm.. checking on back taxes, liens, talking to the neighbors.. whatever)
A couple thoughts here
- yes get an inspection
- a survey, unless there is a very good reason it is not necessary
- understand any deed restrictions, HOAs, etc.
- read and understand all contracts, addenda, etc., and get advice if needed
- visit finalist house at different times in the day
- look around carefully (and listen): airports, highways
- any major institutions nearby? Hospitals, etc. are notorious for bulldozing existing zoning restrictions
Item #1, highlighted in green, highly recommend
Item #6, highlighted in red, I will never again buy a property without doing this! Just 'cause you can't see anyone doesn't mean you can't hear them!
1. Make a list of must haves, wants, and it would be nice items.
2. Find out about the ratings of the schools serving that neighborhood.
3. Determine how much you are willing to spend.
4. Get pre-approved for a loan.
5. Check the traffic patterns in and around any house you are considering.
6. Drive to work from houses you're interested in, so your commute won't yield any surprises.
7. Find out if there HOA, CDD, or any other types of fees.
8. Locate the nearest grocery, park, library, post office, gym, etc.
9. Make sure there aren't noise and other nuisances that would drive you crazy close by.
10. Get an inspection by someone who knows what they are doing.
> But what are the top 10 things to do if you buy a house!
(and I mean inspection, umm.. checking on back taxes, liens, talking to the neighbors.. whatever)
A couple thoughts here
- yes get an inspection
- a survey, unless there is a very good reason it is not necessary
- understand any deed restrictions, HOAs, etc.
- read and understand all contracts, addenda, etc., and get advice if needed
- visit finalist house at different times in the day - look around carefully (and listen): airports, highways
- any major institutions nearby? Hospitals, etc. are notorious for bulldozing existing zoning restrictions
Big one for me--- Barking dogs. It seems every neighborhood has at least one house that has a 24/7 barker.
You dont want to be next to that house
If you have found a house on some realtors site, you may want to go behind the realtors back and talk directly to the seller. Very often the sellers sales contract may have expired but the listing may stay on the site. This allows you to cut the realtor out of the deal and perhaps get a better price in the negotiation process.
I also think that if there is an employment contract in place with a realtor then try to only deal with the listing agent. you will get faster answers to any questions you may have about a property that is not mentioned on the listing info.
This is idiotic advice for a new buyer. Or frankly any buyer. MLS rules stipulate that expired listings be listed as such. If you go to an agent's personal website they may have old listings but any public site (trulia, realtor.com, redfin etc) updates with the local MLS.
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