Everyone wants to have his own home. A home that would serve as a shelter for us. A home where family values and harmonious relationship would prosper. It is one of the most important investment that we would have in our life.
However, because of high tag prices of homes, how can we afford it to have one? You could buy the house of your dreams at the smartest price when you use these essential real estate tips.
Know your market. Get to know the local housing market. For example, learn how long homes take to sell and whether conditions favor buyers or sellers. Visit open houses, read ads, read news and economic trends, even before you are ready for serious house hunting. After you’ve done some serious house hunting, you become an expert for a short time. You probably know about the right price for the right house in a given neighborhood.
With the current global financial crisis, a lot of homes are of discounted prices especially in countries mostly hit by recession such as the United States. Because of this, nowadays are one of the rare and best times to buy a home for those who have a lot of cash.
Recognize the right price. A common mistake taken by some real estate investors is to check the tax appraisal of the house to learn what price it should sell. No matter how earnest an effort the taxing authorities make to keep the assessments fair, they are nowhere near as accurate as what the buying public has paid for the house down the street. Hire a credible appraisal company so they can do the appraisal for you for you to know if you were buying a cheap or an expensive house.
Understand the seller. Sniff out whatever you can about the seller. Talk to them directly. Understand the seller’s point of view and you’ll probably make better decisions when you make your offer.
Get it in writing. If you meet the sellers or their agent, remember to always get negotiations put into writing. In real estate, sellers aren’t legally obligated to keep a verbal promise until it’s in writing.
Prevent a nightmare. Even if the house is newly built, always remember to get a home inspection. To keep your dream home from becoming a nightmare, make your offer contingent upon the home inspection results.
Before making an offer to buy that dream home, do not forget to always take a thorough real estate due diligence.