Real Estate Broker Reviews Best Real Estate Tips Article….#57

#realtor #realestatetips #review

Intro : Here are some “tips” in an article I just saw on google…let’s go through them and see if I agree

Home Finance and Budget

1. Your home loan could fall through if you open additional credit lines between offer acceptance and purchase. Yes! I have seen it happen and I tell my buyers to be careful all the time…..
2. Don’t change jobs….yes…this is true, but if it happens, hopefully you have an offer letter from your new employer detailing pay…I have put buyers in homes that have switched jobs between the time they put in an offer and the time they bought the house
3. If you are buying your first home it may not be your dream home, but you can make it yours along the way and build equity….so I agree and disagree. Your first home may not be your dream home yes…but if you aren’t careful and buy a home that is completely remodeled, there’s only so much upside…and depending on timing of the market, you could even be in a negative equity situation if you go to sell.
4. good real estate agent will not just care how much you are preapproved for but how much you are comfortable paying…so this just depends…sometimes people want to go to their limit on a purchase, and sometimes they want a certain monthly payment…I truly leave it up to the buyer and mortgage person.
5. Bidding wars happen, best to look for stuff below your limit rather than at the limit. So this is a factor in the market….I agree…just depends
6. Zestimates have a margin of error, your agent should be able to run a comparable sale. EXACTLY. You want to make offers that are in line with what might appraise, vs what a seller may want.
7. If you don’t have great credit, work with a mortgage broker , who might be able to find alternative funding…I disagree to an extent…I think that you should work with a broker early on in the process to identify where you can make changes to fit into a program

First time buying

8. refrain from making commentary on a home because the owners could be eavesdropping on your conversation…100% yes. I tell that to my buyers every time we go into a house
9. Talk to neighbors before buying….some buyers do, some don’t…in this market, where there are 30 other offers, I don’t know that it matters to talk to neighbors because the chances of you getting the house are slim anyway.
10. If a home meets 85% of the qualities you are looking for, make an offer. This is kind of random to me….I haven’t ever had a buyer look at it this way and they usually just know when one fits and they make an offer
11. Keep a poker face when touring homes, if you seem too enthusiastic, you will lose negotiating power….I don’t agree with this…if you are excited, be excited…if you aren’t say so. Why are you negotiating with your agent? Makes no sense
12. Don’t skip home inspections and ask seller to compensate for imperfections. Yes, inspect the home, depending on market look for seller comps…this is not the market to do so.
13. When you are interviewing agents, you want an agent who doesn’t shy away from hard conversations. … Most people just pick who they like. That’s it. Some people want to be told things, others don’t.
14. Take a look at the homes floors, they will tell you a lot about how the home has been cared for. Disagree. Look at the home in the entirety. They could have great floors, but a huge crack in the basement foundation….this does nothing.
15. Don’t get overly attached to a house, because it might prevent you from making good business decisions…whatever. Don’t get your heart set on a house before you get an accepted contract. When you own it, you will get attached to it.
16. Real estate agents want you to have a pre approval letter. It separates you from the looky loos that waste time. This is true. I agree.
17. Don’t use the bathroom at an open house….agree. Try not to have to use the bathroom at all, stop by a gas station on your way between showings
18. An escalation clause can help you win a bidding war without going over budget. Well, ok. But it depends on the listing and it depends on the market….you could easily go over budget with an escalation clause
19. in a hot market a buyer letter can appeal to sellers. Yes they can, however many frown on them due to possible discrimination. Do what is within the realm of the law

On Design

20. Trendy, but barn doors can cause some livability issues. True. I agree. But I also think barn doors are on the way out.
21. Natural lighting is great in a bathroom, look for it, but you can also add some light near the vanity. Ok…whatever…if that is a decision between purchase and not, bigger issues than the natural lighting

I put the rest of the article on www.deerwoodrealtystl.com....it was too long for the description.

Source story https://www.apartmenttherapy.com/best-real-estate-tips-36839131