What a buyer needs to know before they go looking at houses

What does a buyer need to know before they go looking at houses?  Being an active Realtor who works with prospective buyers daily, it is a common misunderstanding to mix up the process of buying a house with some other purchase on the marketplace. 

This happens a lot simply because that is the experiencial track that the new homebuyer usually has.  They align the process to what they know: 'buying a car' or 'buying a television', etc.  They often take advice from others in their circle of family or friends that may or may not be accurate. 

The best way to approach the process of buying a home is to ask a Realtor.  Whether or not you work with that Realtor in the process is not important.  What is important is that you get accurate information from someone familar with the process, and Realtors know the process better than anyone. 

If you were going to have a will drawn up you would consult an attorney right?  If you wanted to buy life insurance to protect your family in the eventuality of your unexpected death, you would talk to an insurance agent about what policies are available, right?  They are the experts in that field, and likewise it is the same with Realtors. 

Being the President of my local Board of Realtors this year in 2011 I can tell you that in this present marketplace almost universally that the greatest Realtors in the business are those that are in business right now.  They have come through one of the toughest markets anyone could have ever imagined, and if they are still selling homes right now, then they are good professionals.  So it is real hard to not find someone qualified and experienced to work with in this market. 

Some of the most important things a buyer can know before they go looking at houses it that the process of buying a home is different from any other purchase in the market.  One needs to get pre-qualified for purchase essentially, before they can be considered a 'buyer'. 

Of course you can go looking at houses without being pre-qualified, but what usualy happens is that you find something you love.  Then you go to get qualified and may find that you need to wait a day or so before you get approved, or as in many cases in our present economy, you may need to do additional steps to resolve issues on your credit to get that pre-qualification letter from your lender. 

All of this amounts to time delays, and can result in someone else getting the house instead of you.  No seller is going to hold a house for someone with a hope and a promise of future pre-qualification, especially if they have another offer on the table that is equal or better.  So it is very important to undertand the process and be prepared. 

If you would like to know more about buying a home in the Southwest Michigan area, you can give me a call at: (269) 441-8182 or contact me through my website at: www.JustCallMichael.com.