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Jack and Jill…Keep an Open Mind: The Home Buyer Checklist You’ve Been Looking for (6 of 15)

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goldfish jumping out of the water

We return to our characters Jack and Jill, with Jack returning from his monthly visit to the doctor.  “Jill, I’m back., Jill.”  shouted Jack as he entered their tiny condominium. “Yes, Jack I know your home, I could hear you when you walked up, through these paper thin walls.”  said Jill crossly “SooOOO, get on with it, how was your appointment with Doctor Foster?”  enquired Jill  “He told me that yes, indeed, I have a brain and it appears to be mended.  ANNNNNND, no more monthly visits.”  Jack smiled.  “Perfect, Jack it’s time for us to dive into our next check point.”  said Jane eagerly.  And this is what they read:

#5 Keep an Open Mind

When you are searching for your next home you MUST keep an OPEN MIND.  Unfortunately, your next home will not come alive and tell you “I’m the perfect home for you”, while trumpets play and confetti falls from the sky.  You will pick your next home by taking the time to research and visit the homes.  It is kind of like an interview process…you will interview many before you find the best fit for your needs.  Home buying has also been called home buying through elimination.  What do you NOT like about this home?  Do you absolutely HATE the front elevation (how the front of the home looks)?  Will a couple of cans of paint or some different landscaping change your opinion of the front elevation?  If NO is your answer don’t take another step, this is not the home for you…strike it from your list and move on.  Homes come on the market daily so be open minded to all possibilities.

Home searching overload has hit more than one home buyer and it could hit you, but here are some tips to help you keep an open mind.  Don’t visit too many homes in one day.  Everyone processes information differently, so take notes.  The worst thing you could do is create a SUPER HOME in your mind based on bits and pieces of homes you have seen that day.  Five homes a day is the magic number.  Also keep in mind that the home market is NOT standing still while you search for a home.  If you view a home today, it could have had five showings yesterday and two written offers already.  Because the home market is always moving; when you give your REALTOR your list of homes to view give him more than five.  One of the homes could already be under contract, while one home is sick with the flu, and another could be hosting a birthday party.  Here’s another tip:  the photos you see on the multiple listing service and videos the listing agent has made: are to peak your interest to set an appointment, but they also can be used to eliminate a home.  No photos or limited photos, something is up…don’t waste your time.  It’s hard to let go of that mystery home that says that it has the right number of bedrooms, square footage, location and price, BUT let it eliminate itself because it doesn’t have any or enough photos to deserve your attention.  Here’s another way to think of it….up to this point you have done everything to prepare yourself to make an offer.  You have a pre-qualification letter, you have a REALTOR, you have the desire to be a home buyer….now the homes have to have the equal desire to be sold, so if you see anything that may be deceptive in the marketing of a home, strike it from the list.

Everything happens for a reason, again BE OPEN MINDED, you are looking to eliminate homes.  If it is to be it is up to you.  The one home you cannot find enough to strike it from your list, that is the one that YOU will call HOME.

Jack and Jill now had a clearer picture of how to search for their home on the hill.  “Jill, I don’t know about you, but I’ve had an open mind once or twice.”  Jack said with a wink.  “Yes, Jill interpreted, I remember bandaging that mind more than once with vinegar and brown paper.”  “Well, I like this new type of open mind much better.”  Jack said as he leaned in to give Jill a kiss.  Jill returned his kiss with a blush as they eagerly awaited the next check point entitled:

“Jack and Jill…Will This Home Suit Our Needs?  The Home Buying Checklist You’ve Been Looking For (7 of 15)”

 

We hope that you’re enjoying our series and that it helps you on your way to…………………….

Live Life to the Fullest,

S.C.

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Jack and Jill Search and Search Some More: The Home Buyer Checklist You’ve Been Looking for (5 of15)

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House hunting“Come on Jill, can’t we just mark off some of these checkpoints?” asked Jack  “Can’t we just move on?  After all we KNOW how to search for a home.” Jack said in frustration.  “We, as in you, may THINK we/you know how to search for a home, but I don’t see us living in one.”  Jill quickly responded.  “Jack, it’s time you play the part of the wise old owl and listen, do not speak while I read to you”

#4 Search & Search & Search Some More

Homes that are FOR SALE are marketed in many, many, many different ways.  Ok, so here’s just a few: magazines and the internet.  The homes you find on the internet or in magazines may have already been sold.  The ads for a real estate magazine are typically gathered a month before it hits the shelf at your local grocery store.  You would think the internet would be up to date because….”if it’s on the internet it must be true and accurate”.  The problem with that is a lot of the websites that post homes for sale don’t move the homes from Active(available to be bought) to NOT AVAILABLE(sold or under contract).  This can make for a very frustrating home search.  The best way to combat this is to contact a REALTOR.  They have access to the most current information that is not available to the general public, which includes those fancy, national real estate websites.

Another way homes are marketed is through an OPEN HOUSE.  You’ve seen the signs and you may have even seen the reality Real Estate shows on television.  It’s a good way to view a home, but you should not depend on it as your only way to search for a homes.  Not all open houses are posted on the internet or listed in the local paper, some are just a sign in the yard and that’s it.  You could waste a lot of gas looking for an open house to view.  Again, your best bet is to contact a REALTOR and they will be able to provide you witht he most current information.

When you meet with that potential REALTOR ask if they can set up a home search that meets your needs.  When they say “of course” take the time to discuss the things that you have to have in your new home…….location, school, size, price(as determined by your visit with a lender), bedrooms, etc.  Some REALTORS even have a mobile search website for your smart phone.  But don’t just rely on that search!!!!!  Search and Search and Search some more.  You can always drive the neighborhood before you call your REALTOR for the most updated information.  Do the neighbors take pride in their homes?  Did you hear a train near-by?  Is that a plane flying overhead…really low?  Search, search and search some more.  You heard from a co-worker who had a friend that told them that a home in such and such neighborhood was for sale and it wold be great for you.  Give your REALTOR that subdivision and let them provide you with a list of the homes for sale in that subdivision.  Lastly it’s ok to change your search criteria, that’s why it’s ok for you to continue to search, while your REALTOR created search is specific to your needs when it was set up.  You may decide that you “can’t live without” a study or that you “really, really” want a hard counter surface for the kitchen.  Use all your tools available and keep your ears and eyes open……your next home may be right around the corner.

“Can I speak now?” Jack said timidly “Yes, Jack, I was only trying to make a point.”  smiled Jill  “You know I have been seeing a lot of FOR SALE signs lately Jill.  I didn’t realize that it was because we are in the process.”  Jack stated.  “I’ve noticed the same thing, signs, television ads, even REALTORS names on cars.”  Jill responded.  “I wonder how we will find our home?”  said Jack  “We will find our home by looking together my dear, and looking and looking and looking.”  Jill whispered.  And they fell asleep with dreams of home searching dancing in their heads and they were eager to read the next checkpoint entitled:

“Jack and Jill Keep an Open Mind: The Home Buyer Checklist You’ve Been Looking for (6 of 15)”

We hope you’re enjoying our series and that if helps you on your way to……………………………

Live Life to the Fullest,

S.C.

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Jack and Jill Negotiate to Buy a Home…The Home Buyer Checklist You’ve Been Looking for (9 of 15)

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FOOTBALL VICTORY

Jack had just pulled away from their condominium.  When Jill pulled out the next check point.  Jack frowned.  “What?  It’s a thirty minute drive and it’s only a couple of lines long.”  Jill said with a lilt in her voice.  “Ok, said Jack, but don’t quiz me when your done.”  So Jill began to read………… 

#8 Negotiate with Knowledge

This is probably the check point that most readers will skip.  I am sorry to report that there is not magic bullet or crystal ball.  The best asset you have for negotiations is your REALTOR.  Take the time to review the contract template your REATLOR wants to use BEFORE you start looking for a home.  Understand all the negotiation points and timelines.  Knowledge is your friend and the more you understand the negotiation points in the contract the better you can respond in the heat of the battle.  That’s why the two super bowl team practice before the Super Bowl…it’s so they understand what their opponent is going to do in a situation so they can be at the RIGHET PLACE AT THE RIGHT TIME AND THEN……..TOUCHDOWN!!!!

Let’s back up a little and talk about when your negotiation starts.  It doesn’t star when you like the home, or after you have put in an offer.  YOUR negotiation starts when you first star to read the Multiple Listing Service information with your REALTOR.  There are subtle clues in the general listing and sometimes more in the Agent remarks(available to agents only) that could help you formulate your game plan from the very beginning.  This doesn’t seem like much of a negotiation, the seller is basically telling us what type of financing they will accept and that they are keeping the fan in the bedroom and so on.  Understanding that harlines the seller has drawn will help you to decide if you can live with those terms or if there are going to be a hardliner throughout the process.  Did you have trouble making an appointment to see the property?  Did they move the showing time, did they shorten it?  Did they give a reason for making changes to the appointmen?  Were they reasonable reasons?  That’s subjective, I know, but if a child is sick or they have family in town…that’s ok.  It’s nice to know the reason why the property is being sold, but it is not your right to know.  Sellers guard their reason fro selling very heavily and it is within their right to do so.  The worse thing you could do is visit a home in search of the upper hand instead of seeing if this could work as your next home.  Negotiations are meant to be in the best interest of both parties.

What the seller sees as value, you may not.  The buyers set what is valuable by buying homes they like.  Those sellers that don’t move with the market, ie change their selling price or fix problems with the home, will be left behind.  Days on market is often seen as an indicator of urgency to sell.  Your REALTOR can help you with these when he gathers the competitive market analysis for that subdivision.  It may be that homes in that neighborhood sell slower of it may be that the buyer is holding the line.  Let your REALTOR go over the competitive market analysis with you in person and in detail.  This is what they do for a living and it is not as cut and dried as you may think,  You really nee a detailed Competitive Market Analysis to understand what direction you should take your negotiation.

“I guess I was really hoping their was a magic bullet to the whole negotiating thing.”  Jack said with a sigh.  “Knowledge is Power, my dear.” Jill said with a wink.  And they eagerly awaited the next check point entitled:

“Jack and Jill Consider a Home Protection Plan…The Home Buyer Checklist You’ve Been Looking for (10 of 15)”

We hope you’re enjoying our series and that it helps you on your way to……………………………

Live Life to the Fullest,

S.C.

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