Buying Tips
Attention
Buyers!!!
Get Your FREE
10 page Home Buyers Guide
Here are some useful Los Gatos Home
Buying Tips:
- Congratulations BUYERS! It is officially a buyers market
- Go shopping - Have fun - The Interest Rate is still
very good - under 7! Remember you have the advantage right
now in the late summer months and there's lots of inventory
to choose from. Be picky on what you want and stick to
your guns on your offers. Don't be afraid to go after
homes priced a bit higher than you are qualified for.
If you wait long enough the home may be reduced, then
you're ready to jump all over it!
- Get pre-approved.Get a letter that says you have already
gone through the loan process and are ready to buy any
home up to the stated amount on the pre-approval letter.
This will make your offer a bit more serious and believe
me, when you are up against two or three others - you
better have all your ducks in a row!
- Ask your real estate agent to pull up all properties
within your range. Say you are pre-approved for up to
$750,000.Ask to see properties up to $800K.This way you
will be ready to move fast in case a property drops in
price from $800K price range (which is starting to be
more common these days).
- Go on a tour with your real estate agent. Most agents
will take a few hours on a Sunday afternoon to walk through
open houses and other available properties with you. It
is important to go together in order to evaluate the agents
attentiveness to your needs and wants. If you tour houses
with a small yard and you continually tell your agent
that you need more yard space. If he continues to ignore
your demands, move on to someone else.
- What is the condition of the home, and age you are looking
for? Do you want a home at a lower market price and invest
the money into renovations? Would you prefer a well kept
home in "move in condition" at current market value?
- Be clear about your window of opportunity. If you are
moving because of schools, make sure that you let your
realtor know the urgency. If your realtor knows your motivation,
you will both work together as a team better.
Other Important Points To Remember:
- Good buys are made on homes that require some cosmetic
work (paint and carpet). Two similar homes can be priced
very differently and all it takes is a little elbow grease.
- If you are serious about buying a particular home it
is important to price your offer correctly. You don't
want to lose the home to a better offer. In a multiple
offer situation you should understand that the home may
sell far above the asking price. Are you willing to compete?
If not move on.
- The seller is not obligated to take your full price
offer, even if you are the only potential buyer. The seller
can wait, stall, or solicit more offers. Although this
doesn't seem fair, that's the way it works.
- To receive excellent help in finding a home call Realtor
Daniel Pizano at (408) 460-8401.
- Sign up for my FREE Email Notification System - It will
notify you each morning to let you know what's NEW on
the market. Click
here to sign up!
|
