Never buy a home before you sell your property. If you purchase a house first, you might get stuck with two mortgage payments when your home doesn?t sell as quickly as you thought it would. Paying all that extra money will lead to a sense of urgency to sell, meaning that you might accept an offer that is too low.
If you are in a bind and have to buy a home even though you have not sold your other home, make sure that you can afford to pay for both mortgages for quite a bit of time. This will keep you from getting into financial trouble with your original property.
Remember to examine the commute times that will be involved in the purchase of a particular piece of real estate. How long does it take to get from the home to work? What about going from the house to schools? What about shopping? A house that is priced low but guarantees hours of commuting time may not be the bargain it appears at first glance.
Check for seizure auction listings in your area, as you can really get a great deal on a property through a seizure auction. You will need to get a license to access such auctions, but the license can be worth it if you are looking for a bargain home in your area.
While you are in the process of viewing homes, it is a good idea to download a home buying checklist off the internet. This checklist gives you line items to review as you are touring each home and helps ensure that you don?t forget which house had what. These checklists are great for the new shopper and will save you time and money.
Do not skip getting an independent inspection before buying your home. We all want to think that every one involved in the process is going to be completely honest, but you don?t want to risk your future on it. A house may look beautiful on the outside, but without an inspection you don?t know what may pop up shortly after you sign on the dotted line.
Think of a new house as a part of your future. Choose a house based less on your current circumstances, and more on where you see yourself in five to ten years. If a house will still suit your needs in that many years, it might be worth placing an offer.
Ask for a bonus. When you are negotiating the deal for your new home, don?t be afraid to ask the seller to throw in something unconventional to the sale. A new HDTV or even a car, for example. These items can be an added bonus to you and they may be willing to throw it in for the price of the house, especially if it leads to a quick sale.
A home that ?feels? right might not be the best purchase for you and your family. What you need is functionality and room to grow. Any place you lay your hat can eventually become a home, but a good feeling can turn into a bad feeling in a hurry. Purchase for function and not for feeling.
Use caution when buying a home that is on the short sale market. There are so many parties that are involved in this type of transaction that makes it easy for something to go wrong before you gain the deed to the home. Be prepared to lose the home that you think you may be winning at auction.
Deciding to buy property is a big step. Don?t take that step without learning about the ground you?ll be putting your foot on. This article?s information should give you a little bit of forewarning about the conditions you?ll find when you buy real estate. Educate yourself further to buy with even more confidence and get even better deals.
Caleb Granelli owns a column regarding Riversails Condo
Source: http://www.whoclick.biz/2012/08/17/tips-and-tricks-for-real-estate-buying-success/
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