10 things that only Real Estate agents like us will tell you! Buying a house can be a very exciting time and you need to be prepared. Our agents are well versed in this process and are ready now to show you the way!
1. The average person looks at 15 properties before making an offer. That doesn’t mean that some people don’t fall in love with the first home they see and make on offer on that one. For others, it may take up to 40 houses, but trust us when we say you’ll know when you’ve found the right one.
2. You don’t pay your real estate agents commission. Luckily for the buyers, it’s the sellers that pay their commission. There may be some other fees that are tied in, but your agent will be upfront with you about that.
3. Even though you told yourself you shouldn’t and wouldn’t, you’re going to end up looking at homes out of your price range. Whether you’re just browsing online or out and about, you’re going to find homes that aren’t in your price range and you’ll probably fall in love with them. Try to avoid this and just focus on homes in your price range so you don’t have higher expectations then what you can actually afford.
4. When you go to visit your new home after buying it, you’ll probably second guess yourself. You’ll notice things that you didn’t notice before such as scratches or cracks. Don’t worry, this is totally normal. You’ll fall back in love with it on your visits afterwards and once you actually move in and make it your own.
5. Short sales are not short. The term “short” in short sales means short of the home’s value. Not the time. A short sale can actually take months to process, and even then the deal can still fall apart.
6. Between the time you buy the house and take possession, you’ll become a stalker. You’ll go out of your way to drive by it, you’ll search it online and you’ll look at all the pictures that you have access to over and over again.
7. You will come to hate your signature. There is so much paperwork between the purchase agreement and closing. You’ll have to either sign or initial every page, especially when it comes to the closing documents.
8. Your mortgage is conditional on your getting home insurance, and the bank won’t advance funds on the closing day until you are able to provide proof of insurance. Make sure you don’t want until last minute to get the insurance. If you run into any issues, this could delay your closing.
9. Test out everything out during your final walk through with your agent. Usually, your purchase agreement will state that fixtures and chattel be in working condition on the day of close. You will want to make sure you check everything at that time. If something doesn’t work on the day of closing, the seller is responsible to fix it. If it breaks the day after, it falls on you.
10. House hunting is just a small part of what your realtor does. There’s many other parents that go into a real estate agents job. They need to determine the fair market value, prepare the offer, negotiate terms to protect you, help set up and attend the inspection and schedule your closing. Your agent will be with you up until the day of closing and long after! (If you’ve found great agents, like the Chris Fritch Team)!
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