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Purchasing Your Home! - Applying for a loan to purchase your new home. Mortgage Loans for Home Purchase.
Many people
get so excited when they feel their dreams finally can come true, that they
forget about some basic and simple rules. Let's examine the seller's point of
view first and be armed with the right frame of mind when you decide and are
ready to make an offer:
When Asking Price Clearly
is Overpriced
Sellers want
the maximum price for their homes. This over inflation sometimes gets up to
20% over their true market value. There is a great chance that seller's home
will languish in the market for months, leaving you with two good negotiating
issues: Seller's home could be labeled as a "troubled" house by other agents,
and seller will stay in "showing" condition… for nothing, and go through the
listing process all over again.
When Home is Correctly
Priced
Some sellers
fully understand the market and do their best to price to sell at shortest
period of time and very close to their asking price. These are easy to deal
with.
When Home is Priced Below
the Fair Market Value
Some sellers
are motivated by a quick sale. These homes attract multiple offers and sell
fast – usually in a few days – at, or above the asking price.
Make Sure You know What You
Want…
As simple as
this may sound, many people do not have a clear idea what they want before they
start looking for a home. In fact, when you go shopping for a place to live,
there are actually two homes competing for your attention: the
one that meets your needs and the one that fulfills your desires. Your goal
should be to find one home that does both.
Don't Buy Your Home for
Wrong Reasons
Examine your
reasons again and again and make sure that you have the right reasons to buy
your home. Don't regret your decision later.
Don't Shop with Stars in
Your Eyes
Satisfy your
needs first. If you're lucky, you'll find a home that does this and fulfills
your desires. The important thing is to understand the difference between the
two.
Ask for Buyer Profile
System
Find out if
your agent offers this service, which takes the guesswork out of finding just
the right home that matches your needs. This type of program will cross-match
your criteria with ALL available homes on the market and supplies you with
printed information on an on-going basis. This would help you to move into the
home of your dream!