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The most important step of all:
Get pre-qualified first!
If you are a cash buyer, fantastic! If not, get pre-approved through a reputable lender; preferably local. Lender Partners A lender in Central Oregon knows the local escrow officers, appraisers, Realtors and inspectors. A lender in New York city doesn'y know us! Being pre-approved makes you a much stronger buyer in the owners mind and positions you to get the best home at the best price possible. I have highly qualified lender partners working with me to make you the best possible buyer you can be. While your lender is your choice, I just happen to know the best and I hold them accountable! A team effort is always better than individual effort and my team consists of the best.
The second most important step of all:
Find a reputable and competent Realtor
Your Real Estate Broker must be competent and honest. Forget friendly cheer leaders and desperate Real Estate Agents. There are lots of them in this profession. Look for Real Estate Brokers that have changed with the times. Have they been listing and selling foreclosures, short sales, and pre-foreclosures for at least two years. If so, they were prepared for this market and more than likely will be prepared as our ever changing markets continue to do what they do best - change!
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Shop the market, take notes, get questions answered and then..
Get a CMA before you make an offer!!!!
Once you have developed your team and narrowed down your choices (2 to 4 homes) you will have a good idea of value. A professionally executed CMA will assure your offer price is gives you the biggest bang for the buck. Backing this up with a strong approval letter from your lender, will make you stand out as the best positioned buyer in the market.
Other buyer pages you should read:
First Time Homebuyers
Buying Your First Home
Dream Home Finder
Foreclosure List
My Promise to Buyers
Now for the Softer Side of Tips!
If you have to resell soon, don't buy an unusual home.
Even if the quality of a school district doesnt matter to you now, remember it might someday to another buyer.
Expect lower maintenance costs with a brand-new home.
Never tell a sellers broker how much you'll raise your offer for a particular house.
Pay attention to floor plans. Changing layouts of rooms later, can be costly.
If the present owner has a title insurance policy less than 3 years old, you could have substantial savings by buying a reissue of that policy rather than a completely new one.
Pay attention to the original listing date of the homes you inspect; Sellers tend to be more flexible in the price the longer the home is on the market. Know how the asking price compares to local appreciation rates since the current owner purchased the home.
A home that's sited to take advantage of the sun, the wind and the topography costs less to heat and cool and can save thousands of dollars over the years in utility bills.
Buying a home whose style is uniquely individual will probably minimize rather than maximize its resale value because the house will appeal to a somewhat more limited number of potential buyers.
If you think you may need more space in the near future, be sure the house and lot will allow for expansion.
Redoing a kitchen is likely to be expensive. So be sure of what you need and want before you buy.
Don't buy a home with foundation problems. Although most foundation problems can be corrected, repair work is usually expensive.
Before you buy a home that may have a wet basement problem,get a good unbiased diagnosis from a professional with moisture control experience. The solution could be costly.
A roof that complements the style of a home and is carefully maintained adds to the home's visual appeal and its resale value.
A light-colored roof reflects heat and is best in areas where air-conditioning is the greater energy user. In colder weather climates, a dark roof is preferable because it absorbs more heat. In temperate climates, a middle-range shade is best.
The three most popular wall choices are brick, wood siding and stucco. About half of all home shoppers prefer brick for exterior walls; about one-third prefer wood siding; and about one-fifth prefer stucco. Wood or wood pattern alternatives rule in the Pacific Northwest!
Wood floors suggest warmth, quality and good taste and are an asset when it comes time to sell a house.
Most home shoppers prefer a combination of ceramic tile and vinyl wallpaper as a covering for bathroom walls, creating a positive effect on the house's resale value. Ceramic tile is usually installed wherever water comes in contact with the wall.
Plant deciduous trees, shrubs and vines on south and west sides of the home to provide shade in the summer and sunshine in the winter Coniferous on the North and East to block cold winter wind. The bigger it is the farther it should be planted from the home. I use one foot for every foot in height and/or width. That limits your selection but it keeps them from falling on your home! Remember, trees enhance the beauty and value of a lot and home.
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What Next?
Give me a call, register below or drop me a line. I like to meet my clients personally so be prepared to meet a real person!