I hope all of you have been well, and thanks for all of your correspondence.
The reason we are all meeting here together in this Blog is for one purpose; Real Estate. Albeit a broad industry composed of multiple niche subdivisions, it all comes down to buying and selling properties. Today, we will turn our attention to buying properties, and we'll focus on some essential things that homebuyers should be aware of before making a purchase.
Let's step back for a moment and look at all of the moving parts here in the most common of scenarios: A buyer will utilize the services of a Real Estate agent to find a home, make an offer, and if the offer is accepted, the buyer will then utilize the services of a mortgage broker/banker to gain access to funds. Are you with me so far?
From another angle, you are buying a house, and borrowing money (paying interest, points, etc). To be more specific, as John Maxfield of the Motley Fool wrote in a recent article, when you buy a home, you're making two purchases, and says that, "the loan itself may be the most significant piece of the transaction".
Some other points that Maxfield touched upon was that you should look at your Real Estate agent as a partner, and additionally, that you need to keep resale in mind from the beginning. A good suggestion is to start doing your homework on agents and ask around. Check their reviews online, if you can do so locally. Speak with neighbors in the area you are looking to buy a home, and start gathering names and suggestions for you to investigate further. Once you have narrowed down your options and decided on an agent, start building a relationship with them. Only then will you be able to confidently discuss the eventual or possible re-sale of your home while looking to purchase it in the first place.
Maxfield says that most of us "delude ourselves into thinking that we actually know something about real estate", but says that the truth is that "few of us have any idea what we're talking about". I think this statement is especially true for those that are won over by a home and fall in love before the inspection. Maxfield says that, "Homes are like people -- they all have problems", and that the "shock generally comes when prospective buyers get their inspection reports back". That's when some tough decisions need to be made and some negotiations have to take place (regarding who makes repairs, who pays for them, and so forth). Not the most exciting time of the homebuying process...take my word for it!
Look, the truth is that the right home is out there for you. If you educate yourself, learn the market, know what you will be facing as far as home price, mortgage "price", possible resale value, and whatever else might be necessary in your state, you will prevail.
Remember, if you want to take a softer approach to buying a home, the answer is quite simple; look into Rent to Own. You're certainly on the right website for that option !
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Have a Great Weekend, and Happy Rent-to-Owning !
Regards,
Rob Eisenstein
HomeRun Homes - Rent to Own Homes, since 2002
"Located at the Corner of Technology and Real Estate"
Rent to Own Homes and Real Estate Blog for HomeRun Homes: http://blogging.lease2buy.com
HomeRun Homes Websites: http://www.lease2buy.com and http://www.homerunhomes.com
TAGS: #buyhome #realestate #agent #broker #mortgage #inspection #renttoown
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