One of the very first steps you should take in the home buying process is getting your pre-approval letter from a lender. Imagine, you are looking at homes and you see the one, it's priced beautifully, has everything you could ever want, and it is way better than anything else on the market. Then imagine, you are not the only buyer in the world and while you are scrambling at the last minute to get the pre-approval letter so you can put in an offer on the home of your dreams(99.9% of sellers will not entertain offers without a pre-approval), another buyer(with a pre-approval) makes an offer and gets the home for less than you would have been willing to pay. Could that home have been yours? Yep, if you had gotten your pre-approval in advance it more than likely would have been.
Some sellers are tempted to undertake massive renovation projects prior to putting their home on the market, I would advise consulting your Realtor prior to doing so. More times than not these projects are going to cost far more than they will ever yield on an a sales price increase. Usually your best bet is to do minor projects that focus on increasing the curb appeal of your property to attract buyers.
Buying a home, especially a first home is a very emotional experience. Do not let yourself get swept up in that emotion and make the mistake of buying your "Dream Home" after the first time you see it. You should view the home two times at least and drive through the neighborhood at different times of the day prior to making your decision to purchase.
Buyers, this one is for you, because so many of you miss the importance of this step in the process until it is too late. Sellers are usually quite thorough when interviewing and choosing their agents. Buyers on the other hand tend to more or less stumble into an agency relationship with their Realtor. Probably, because they typically don't have to pay for their services. Well, Mr. and Miss Buyer you should be just as thorough as the Seller, you are expecting the same level of service. Interview your Realtors, choose one whose knowledge and skills best suit your needs and sign an agency agreement with them to hold them accountable for the service you expect. Their services are still funded by the seller the difference is you have gotten yourself a Realtor that is right for you and a binding agreement to have them serve you to the best of their abilities just as the Sellers always do.
Most potential sellers are under the misconception that spring is when they should put their home on the market. I will tell you, spring is when you have your highest numbers of buyers, but it is also when you have your highest number of sellers. Another secret, houses really do sell year round! You will want to market it differently, such as in the winter focus on fireplaces and family rooms, in the summer focus on pools and decks, and in the fall 3 season rooms and hot tubs, etc. Consider whether or not putting your home onto the market when there is less competition is right for you, not blindly following a myth that you should only put your home on the market in the spring.
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