[Profile.market2] Real Estate Agent Discusses The 4 Things Every Renter Should Know

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October 20, 2009, by Donald Huff in Seminars

I. Don’t Get “Pre-Qualified!

If you're looking to get the very best house you're capable of getting for the least amount of money you'd like to spend in [Profile.market2]? Then make sure you are in the strongest negotiating position possible. Price is only one bargaining chip in the negotiations, and not necessarily the most important one. Often other terms, such as the strength of the buyer or the length of escrow, are critical to a seller.

In the past it was our policy to suggest to potential buyers that they try to get qualified for a loan before they apply for it. This means that you spend a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you “pre-qualified” and issues a certificate that you can show to a seller. When dealing with certificates that hold no value, sellers are becoming more wise, so let me explain why! None of the information has been verified! Oftentimes-unknown problems surface! Glitches on the credit report due to any number of reasons both accurately and inaccurately, down payments that have not been in the clients’ bank account long enough, etc,some of the problems I’ve seen include recorded judgments, child support payments due.

When you're "pre-approved," your offer is seen as coming from a stronger starting position. This occurs following the verification of all of the details. You are actually APPROVED for the loan and the only loose end is the appraisal on the property. This process takes anywhere from a few minutes to a few days depending on your situation. Something we strongly suggest for all of our clients to have.

It is an advantage to be a renter when competing with buyers who already own their home because their financing can be dependent on selling their current home. 2. Play the Game of Nines

Before house hunting in the [Profile.market2] market, develop a list of about 9 items you want in your new location Then make a list of the nine things you don’t want. I call this “NINE OF THIS AND NONE OF THAT”. You can use this list as a scorecard to rate each property that you see. The one with the biggest score wins! This helps avoid confusion and keeps things in perspective when you’re comparing dozens of homes. When house hunting in the [Profile.market2], consider the contrast between something called "SKIN AND BONES". Such as the location, view, size of lot, noise in the area, school district, and floor plan,the BONES are things that cannot be changed. The SKIN represents easily changed surface finishes like carpet, wallpaper, color, and window coverings. Buy the house with good BONES, because the SKIN can always be changed to match your tastes. Think of the house you are viewing as empty, without furniture. Consider each house on its underlying merits, not the seller’s decorating skills. 3. A good agent will show everything available that will meet your requirements. You should not make a decision on a house until you have seen enough to pick the best one. Go to the Multiple Listing computer with your agent to make sure that you are getting a COMPLETE list of homes for sale in [Profile.market2] and not just the home that the agent "wants" to show you.

At the end of the 80's, properties in [Profile.market2] were selling quickly, usually a few days after listing. In that kind of market, agents advised their clients to make an offer ON THE SPOT if they liked the house. At that moment, it was a sage opinion. Only homes that are very under priced, and you'll know the ones that are, usually have this sense of urgency. But keep in mind, if you wait to long there is always a chance of the house selling before you get your offer to the seller. If you really like a house, get an offer written and make sure your agent writes in the proper clauses to get you out of the offer.

Let's not forget that when making your consideration, also remember to do research into the SCHOOL DISTRICTS that are located in the same area. For more information about schools in the [Profile.market2] market you can visit my website at . Information is available on every school; such as class sizes, % of students that go on to college, SAT scores, etc.

D. Stop Calling Ads!

Take care - the agents in [Profile.market2] market create ads solely to make the phone ring! Many of the homes have some drawback that’s not mentioned in the ad, such as traffic noise, power lines, or litigation in the community. What’s not mentioned in the ad is usually more important than what is. For this reason, we want you to be very careful when reading ads. Remember that the person writing the ad is representing the seller and not you in most cases! The most important thing you can do is have someone on your side looking out for your best interests. Your own agent will critique the property with an eye towards how well it meets your needs and will point out any drawbacks you should know about.So whether you decide to work with us or not, pick an agent you feel comfortable with and enlist the services of that agent as a buyer’s broker. Then you become a client with all the rights, benefits, and privileges created by this agency relationship, and you’re no longer just a shopper. Did you know that many homes are sold WITHOUT A SIGN ever going up or an AD EVER BEING PUT IN THE PAPER? These “great deals” go to those people who are committed to working with one agent. When an agent hears of a great buy, who do you think he’s going to call? His client, who he has a legal obligation to work hard for you, or someone who just called on the phone and said “keep your eyes open”? To get the most bang for your buck, buy property in the [Profile.market2] real estate market, we always recommend that you hire your own agent and stick with him or her.

A plethora of data on the subject of selling, buying or investments is out there at no cost. [Profile.market2] real estate. For complete information about the [Profile.market2] real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything [Profile.market2] real estate. I would be happy to answer any questions about your mortgage when you contact me. Call me on my cell at or email me at .