My Real Estate Blog

1. Avoid Dual Agency. You want someone will represent ONLY YOU!  In a lot of areas, agents are allowed to work both sides of the deal (dual agency).  While it may be legal, I have a big problem with it.  If I'm representing a seller, I'm trying to get them the most money.  If I'm representing the buyer, I'm trying to get them the best deal.  I'll know what the seller will REALLY take and I'll know what the buyer might really pay.  I don't want to be in the situation of saying too much or the wrong thing!  

2. Interrogate the Lender.There's no need to play good cop, bad cop. This simply means you need to ask every question that comes to mind. In the wake of the predatory lending storm, it's important to be sure you understand exactly what your mortgage will entail. Be sure to compare rates with other lenders to be sure you are getting the best rate. It pays to shop around because not all lenders have the same programs.  Stick with Mortgage Lenders and beware of Mortgage Brokers.  They two completely different animals!

3. Be Ready To Act. In many markets, highly desirable areas come with a large amount of competition. Many buyers may be looking at the same homes as you. If you hesitate, you may very well lose out on your dream home. The best advice? Don't begin the process of viewing homes unless you are really ready to buy.

4. Think Long Term. You love the house, and you can deal with the small bedrooms and laundry room in the garage, but will the next set of buyers? If you are planning on selling the home in the next few years, you must remember to consider the resale value of a home. Is this neighborhood appreciating quickly, or are homes losing value?

5. Be Competitive. This is one of the hardest things for buyers to do.  We all want to buy a home for the best bargain price possible, but a careful consideration is respecting the seller. You may view a low ball offer as a starting point, but a seller may view it as an insult and refuse to answer your offer. If you really want a home, be reasonable with your starting bid.