Wednesday, January 2, 2013

Real Estate Buying Ideas You Can Use

By Bob Spike


Buying real estate is attracting a lot of interest these days. It can even become a career for you. More and more people realize the importance of being able to buy their property without being subjected to any loan scams or other money-losing propositions. This is a great time to begin. Before you get started, however, take a few moments to read these great buying-related tips.

Always have a potential home thoroughly inspected before purchasing it. Home inspectors are trained professional who will thoroughly inspect every aspect of the property you are wanting to purchase. Using the services of a relative or friend will not give you future recourse if something goes seriously wrong.

So if you've decided you want to buy a place, now you need a real estate agent. It's important to find an agent you can really trust. An agent with a proven record can guide you properly. Look at the websites and testimonials for a number of real estate agents to find one who truly works for the satisfaction of the client.

If you don't live a cold climate, avoid buying a house with a fireplace. Keeping up with fireplaces can be a pain, especially if you won't be using them.

You must understand well the terms used in mortgage loans before purchasing a home. Understanding these mortgage terms will avoid later confusion regarding the amount of the monthly payment as well as the total coast paid over the lifetime of the loan.

Ask the seller of the home to help with the closing costs before making an offer. It is not uncommon practice for sellers to pay or "buy down" a portion of the loan's interest rate for a period of a couple of years. By asking for financial incentives, you are possibly keeping the seller from negotiating the selling price.

Don't give up even if your offer is turned down, as many sellers will search for ways to make it work. The seller might be willing to meet you half way, cover closing costs, or finalize some repairs. It never hurts to counter offer and ask.

All real estate agents need to be in touch with their previous customers on the anniversary of the date they purchased their home, and certainly during the holidays. Hearing your voice again will trigger positive memories of the real estate transaction that occurred. At the end of your message, let them know you work on referrals and would love it if they passed your information on to their friends and family.

If you're buying real estate, seek the guidance of a broker or real estate agent. These real estate professionals have access to additional tools and databases that you may not have. Most commonly, real estate brokers use software designed for quickly searching MLS listings so that they can help you find prospective properties much more easily than you can do on your own. You can personally do a property search through MLS, but these tools speed up the process and will help find properties which you might have missed otherwise.

Buying and investing in real estate is a huge purchasing decision that will have a dramatic impact on your life. Hopefully, the tips that have been covered here, have given you some of the tools you need to be more prepared to make the decision to buy real estate.




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