Things To Consider When Buying Your New Home

Dated: 05/20/2017

Views: 360

The current Real Estate market we're in across the country is on fire! Make sure when you're ready to pull the trigger on your purchase, avoid these detrimental mistakes.

1. Timing: In today's market, you must act fast. Great houses on the market rarely last more than a week, especially if the seller is really motivated. I understand it's a huge decision, but when you know, you'll just know.

2. Lowball offers: Again, with the market so hot, don't waste your time, your agents time, nor the sellers time. They usually won't even consider giving you a counter offer. Just make sure you give them your best offer at this pint in time. Unless your agent does some deep research and finds comparable properties that you can justify that price. Then it's your agent's job to sell that.

3. Pre-approved: If you're working with a smart agent, they already had you get a pre-approval letter from a lender. This shows the sellers you are ready, willing, and able. Although this is great, be careful when making offers that hit your max budget. Although you may be approved for that, things can change. Say the interest rates go up and now you can't afford to add that little extra because you're already maxed out. Leave yourself with some wiggle room. Get with your real estate agent and lender to figure out the best course of action for your situation.

4. Don't buy anything: I'm talking about large purchases on credit until after closing. Don't buy furniture for the house you don't have yet, don't buy a new car, or run up your credit cards. This can affect your loan and in the end may be the reason you will no longer be approved for your mortgage. Hold off on all large purchases until the house is yours.

There are a few other things to consider. Please consult a professional before making any decisions. If you want to get ready to buy, Contact me and I'll get you set up on a solid game plan. Judy Griffin, The Griffin Group 850-685-8595.

Start your search by using our website I pay for this information so you don't have to 

Want to Advertise on this Site?

Latest Blog Posts

FHA Increases Loan Limits For 2019

FHA loan limits increased for 2019WASHINGTON – Dec. 17, 2018 – The Federal Housing Administration (FHA) announced the agency's new schedule of loan limits for 2019, with most areas in the

Read More

How To Negotiate Repairs After A Home Inspection

How to Negotiate Repairs After a Home Inspection: Haggling Tips for BuyersBy Cathie Ericson | Oct 19, 2017 fstop123/iStockIf you're buying a home, you'll want to know how to

Read More

Maximize Your Cash Low With PMI

If you've owned a home or shopped for one, you undoubtedly know that lenders require private mortgage insurance(PMI) when a downpayment totals less than 20 percent of a home's purchase price.  

Read More

Chip And Joanna Gaines Target Collection

Chip and Joanna Gaines' Target Collection: 6 Home Decor Items That Will Sell Out FastBy Natalie Way | Nov 3, 2017 target.comNow's your chance to bring a little piece of Chip and

Read More