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Real Estate Resolutions: Tips for Homebuyers

Real Estate Resolutions: Tips for Homebuyers

Published: October 1, 2011

Planning to buy? Preparation is the key to getting the best deal when shopping for a new home. Following are some tips to help you get started:

Real Estate Resolutions Define Needs Versus Wants: Make a list of your needs versus wants in the new home. For example, if you have a large and growing family then four bedrooms might be a necessity, while a pool might be negotiable.

Select a Location: Spend some time driving around town, researching schools and local amenities, crime rates, and other safety considerations. Select three to five areas to focus your search on.

Get Pre-Qualified: Find out how much you will be eligible to borrow and begin the paperwork so you are prepared to move quickly should a great deal arise.

Contact a Buyer's Agent: Ask family and friends, perform a search for a Buyer's Agent that specialize in rebating part of their commission to you, as the buyer. The rebate can be as much as 2% of the purchase price. Two percent could pay for a family vacation, new appliances or contribute toward a college savings plan.

Read, Set and Search: Sign up for automatic listing notifications and begin viewing prospective properties online. Ask your agent for additional photos, virtual tour links and a Comprehensive Loss Underwriting Exchange report, if available, which gives the insurance claim and loss history for residential properties. Once you find a property of interest, take a few minutes to Google it before actually driving out in person. It's often easy to see areas of concern from an aerial view as opposed to in person. Be sure to identify your Buyer's Agent before visiting the property in order to qualify for any rebate.

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