Smart buying
Buying the right home for the right price with the right financing can make a huge difference in your financial future and your peace of mind. Here are some things to consider to avoid costly mistakes.
- Buy what you can realistically afford – A good loan officer can get you pre-approved for a home loan so that when you begin shopping you’ll know what you can afford. Beware of risky loans – why buy a “dream home” only to lose it a few years later? Instead, work with a good agent to get the best deal on something in your true price range.
- Get everything in writing – So the sellers said the big-screen TV was included? If it’s not in the contract and they take it with them, you’re out of luck. Be sure that everything important is included in the purchase contract. Not sure what “everything important” includes? Get your agent to advise you – a good agent will know everything to include and will be able to go over the whole contract with you so that you understand what’s required of you and what you can expect from the seller.
- Know what you’re getting into – We’re talking two things here: Disclosures and Home Inspection. Sellers are required by law to disclose “material facts” about the property. However, a seller who isn’t represented by a REALTOR may not know about these obligations or may try to get around them, leaving you to discover after the fact that you’re in a flood zone. A good home inspection will let you know the true condition of the home before you sign the final papers. This is needed in addition to disclosures – maybe the seller didn’t know there was dry rot under the master bath.
- Get yourself a good agent – A good agent who is a member of the National Association of Realtors can help you with all of the above. Interview agents until you find someone you trust and are comfortable with. And if you want a great agent, just give O’Hara Realty a call.
