Most people save for many years just so that they can one day own a house. The thought of leaving your workplace and having somewhere you can call your own is just amazing. Hence, when you are ready to purchase your first house, you should ensure that you do it correctly. If you have found some highlands homes for sale by owner, you might find the below tips useful.
Inspect the property personally. You should spare some time so that you can go and see what you are buying. You might realize that it looks quite fine from the outside, but on a closer inspection, you may not like it at all. You may discover that it is actually older than it looks.
Price is a prime factor. You can only buy what you can afford. Hence, check the available houses and found out how much they cost. You should also decide on the type of the house. You could ponder on buying a condo because it may seem like a good bargain, but remember that there are monthly homeowners association fees, unlike ordinary houses.
Get a pre-approval. You should ensure that you are indeed in the market to buy a home before you contact the seller. Most sellers will only negotiate with serious buyers. Hence, when you contact them, they will check your background to see if you are able to buy the property. If you are already pre-approved by a lender, then you will have an upper hand.
Contact the owner. You are not dealing with an agency, so there is no middleman on either side. Get hold of the holder so that you can obtain additional details. You could arrange for a tour of the house, but you should also prepare yourself with a few questions you would want to be answered. Try to find out the reason for selling house.
Get a valuation report. You would want to know the real value of the property so that you are not ripped off unsuspectingly. You may opt to pull a valuation report online, but note that this will not factor things such as recent renovations. The computer will only compare it to recently sold properties in the same location. If you want a more precise and detailed report, hire a professional to conduct a comparative market analysis.
Have the house inspected by a professional. A professional home inspector with a state license is the best person to hire. While this may add to your expense, you will be happy to discover that the house has some structural problems or was not up-to-date with the local building code requirements.
Get an agent. Once you have confirmed everything, find a good real estate attorney. The individual would be well versed in local tax laws in additional to other charges required during a change of ownership.
Ask when you will get the keys. Some owners may not move out by the closing date. If that is the case, then you should be aware.
Inspect the property personally. You should spare some time so that you can go and see what you are buying. You might realize that it looks quite fine from the outside, but on a closer inspection, you may not like it at all. You may discover that it is actually older than it looks.
Price is a prime factor. You can only buy what you can afford. Hence, check the available houses and found out how much they cost. You should also decide on the type of the house. You could ponder on buying a condo because it may seem like a good bargain, but remember that there are monthly homeowners association fees, unlike ordinary houses.
Get a pre-approval. You should ensure that you are indeed in the market to buy a home before you contact the seller. Most sellers will only negotiate with serious buyers. Hence, when you contact them, they will check your background to see if you are able to buy the property. If you are already pre-approved by a lender, then you will have an upper hand.
Contact the owner. You are not dealing with an agency, so there is no middleman on either side. Get hold of the holder so that you can obtain additional details. You could arrange for a tour of the house, but you should also prepare yourself with a few questions you would want to be answered. Try to find out the reason for selling house.
Get a valuation report. You would want to know the real value of the property so that you are not ripped off unsuspectingly. You may opt to pull a valuation report online, but note that this will not factor things such as recent renovations. The computer will only compare it to recently sold properties in the same location. If you want a more precise and detailed report, hire a professional to conduct a comparative market analysis.
Have the house inspected by a professional. A professional home inspector with a state license is the best person to hire. While this may add to your expense, you will be happy to discover that the house has some structural problems or was not up-to-date with the local building code requirements.
Get an agent. Once you have confirmed everything, find a good real estate attorney. The individual would be well versed in local tax laws in additional to other charges required during a change of ownership.
Ask when you will get the keys. Some owners may not move out by the closing date. If that is the case, then you should be aware.
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