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Many will agree that purchasing and owning real estate is one of the most important parts of adult life. Like any large item, thought has to be put into the longterm effect a home or other property will have on your lifestyle and family. If you are thinking about getting out of the renter's mindset and moving up to owning your own home, here are seven tips that might be useful.
1. Find a real estate agent that you feel comfortable with, and that has experience in your market. If you can locate an agent that understands your needs and is willing to put the effort into meeting them, then you are on the right track.
Your real estate agent should be able to provide you with a report of recent market activity in your area. In order to find a home for the best price and value, it is important to compare new properties on the market with selling prices of other, similar homes.
3.Have the home inspected. For this inspection you need a third party inspection company. This will let you know of any problems with foundation, roof, etc. Before you buy is the time to know the true condition a home is in.
4. Talk to your financial institution before you are ready to buy. If possible, get an idea of the price range they can support you for. In some cases, a pre-approved mortgage may be available.
5. Weigh the pros and cons of any home, and try not to let eagerness and emotions get the best of you. It is easy to jump in with both feet right away, but not always the wisest course. Discuss everything with your real estate agent.
6. Talk to your real estate agent about first offers and price negotiations. One of the reasons you want to find an experienced agent is to utilize his or her negotiation skills to get the best and fairest price on your new home.
7. Know and understand the legal documents before you make an offer on a home. Ask your real estate agent to explain the clauses and agreement, and make sure you know your rights as well as your obligations once the offer is put forth.
Remember, your best bet is to find a real estate agent that knows the ropes, and that is working to find you the best home you can afford. Good luck finding your perfect home!
1. Find a real estate agent that you feel comfortable with, and that has experience in your market. If you can locate an agent that understands your needs and is willing to put the effort into meeting them, then you are on the right track.
Your real estate agent should be able to provide you with a report of recent market activity in your area. In order to find a home for the best price and value, it is important to compare new properties on the market with selling prices of other, similar homes.
3.Have the home inspected. For this inspection you need a third party inspection company. This will let you know of any problems with foundation, roof, etc. Before you buy is the time to know the true condition a home is in.
4. Talk to your financial institution before you are ready to buy. If possible, get an idea of the price range they can support you for. In some cases, a pre-approved mortgage may be available.
5. Weigh the pros and cons of any home, and try not to let eagerness and emotions get the best of you. It is easy to jump in with both feet right away, but not always the wisest course. Discuss everything with your real estate agent.
6. Talk to your real estate agent about first offers and price negotiations. One of the reasons you want to find an experienced agent is to utilize his or her negotiation skills to get the best and fairest price on your new home.
7. Know and understand the legal documents before you make an offer on a home. Ask your real estate agent to explain the clauses and agreement, and make sure you know your rights as well as your obligations once the offer is put forth.
Remember, your best bet is to find a real estate agent that knows the ropes, and that is working to find you the best home you can afford. Good luck finding your perfect home!
About the Author:
John is an Alberta real estate enthusiast, and spends his spare time examining local homes for sale. For other helpful articles, visit Calgary and Alberta real estate.
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