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A REALTOR® can be a home buyer’s best friend. But some buyers behave in ways that are counterproductive to the REALTOR’s® efforts. Here are five ways you can help your REALTOR® help you achieve your home-buying objectives:
1. Identify your must-haves. Savvy home buyers have a clear vision of what they want and are able to differentiate between needs, which are must-have criteria, and preferences, which are desirable but not absolutely necessary. The better you define your must-haves and preferences, the better the REALTOR® will be able to locate a home that will match what you really want.
2. Disclose your top dollar. No one wants to overpay for a home, but if the REALTOR® doesn’t know how much you can afford to spend, you may waste a lot of time looking at homes you won’t want to buy. It’s okay to state that you’d prefer to spend less than your top-dollar, but don’t artificially limit your choices to a lower price range if you’re willing and able to spend more.
3. Get pre-qualified. A loan pre-qualification letter can help you demonstrate to the REALTOR® and the seller of the home you want to buy that you’re financially qualified and able to purchase the home. Even better is a pre-approval letter that says your financing is subject only to an appraisal and title report.
4. Get set. REALTORS® typically devote the most time and attention to buyers who are ready to transact. If you need to sell your current home before you purchase a new one, you can demonstrate your readiness by putting your current home on the market. If you’re a renter, be sure you have a month-to-month tenancy or be prepared to break your lease agreement. And if you’re not planning to move within the next few months, tell the REALTOR® when you expect to be ready.
5. Be honest. Giving frank feedback about homes you’ve seen on the market can help the REALTOR® understand your preferences and perhaps negotiate changes to a home to mitigate characteristics that you don’t like. For example, if you want to buy a home that has tattered carpets or an unusual paint job, the seller may be willing to update those items if you stipulate those conditions in your contract.
Published on March 08, 2007Read full article at realestate.com