Buying Real Estate

Buying for the Least Amount of Money

When you buy real estate you will sit down with your Realtor to determine the style, location and cost of the property you wish to buy. And, of course, you then need to go out into the marketplace to actually view available properties. The final step is to contract for the house, land or condominium you select, complete your financing and inspections and close on the transaction. But did you know that there are ways to save time, money and effort in the process? Here's how:

The agent you work with should be experienced and knowledgeable in the marketplace. If he is familiar with the homes on the market and he knows neighborhood values, he can help you determine which properties are fairly priced and in good condition before you start your search.

The agent you select should offer Buyer Agency to you, which is an arrangement in which the agent actively looks after your best interests, but under most circumstances still gets paid by the Seller. This relatively new development in real estate eliminates that age-old question in real estate transactions- "Just who is my agent representing, me or the seller?"

A good agent will recommend that you prequalify for a mortgage loan before you look at homes - to be sure you are looking in an appropriate price range and to strengthen your bargaining position when you locate the home you wish to buy. If your offer to the seller includes a letter from your lender indicating you already qualify for the loan, the seller will take you more seriously.

The best buys are often properties that have come onto the market at a fair price. Buyers who are familiar with values will make offers on them immediately, often at full price - or better. Remember, your agent's job is to get you the best house at the best price... even if that's full price!

Recognizing reduced values of attractive properties is another way of getting a good buy... but you have to know about those reductions and act fast!

One of the best ways to keep informed about new listings and price reductions is to register on our site (under "Home Search with MLS") for a free email service.

These are just a few hints that our staff uses to insure your home buying experience is pleasant and profitable.