Tag Archives: first time buyers

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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Jack and Jill…Where Do YOU Want to Live?: The Home Buyer Checklist You’ve Been Looking for (8 of 15)

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Tropical beach, traditional long tail boats, famous Maya Bay, ThailandJill was dripping wet when she entered their tiny condominium.  A shredded umbrella in one hand and a bag of Chinese take out in the other.  As she closed the door her heel gave way and down she went.  Fortunately it was a tiny condominium, and Jack was able to catch her before she did herself any hard.  The Chinese take out didn’t fair as well.  It got squished, but was still edible.  Jill began to cry as she tried to talk “Jack”, sniff, “I”, sob, “just”, sniffle, “want to be able to park outside our home.”  Jill cried on, not in pain, but from the wet and the sadness of the broken heel on her shoe and the further realization that heir parking situation would not get better until they had their own home on the hill.  Jack handed her a towel and a warm cup of tea and said, “You relax, I got the food warming in the oven, dry off, drink your tea and I’ll read.”

#7 Where Do YOU Want to Live?

I don’t know, where do you want to live?  I don’t know, where do you, think we should live?  It’s a discussion that people have been having for years.  When your looking for a home, unless you have some type of restriction that you have placed on where you want to live, the world is your oyster.  Surely you don’t want a two hour commute, one way, up hill, in the snow.  Or maybe you have to have that type of commute because you want to live by a lake or have your children go to a certain school.  Location IS the biggest question in real estate and that’s why everyone will tell you it’s the first, second and third most important thing,  So location is important, but it’s not just the State or the city, or the subdivision, or the school district, it can also be the street.  Do you want your home on a corner, a cul-de-sac, on acreage, next to the park, or far away from the park?  When you are searching you should look at the satellite view of the home that peaks your interest.  The  satellite might show vacant land, a creek, a river, railroad tracks, salvage yard or strip center that you didn’t see when you drove to the property.  Keep in mind that land that is vacant now may not be vacant forever.  Farmer John may decide to sell that vacant land and you don’t have any control over who he might sell to.  Can you get to work from your new home?  Is their more than one route?  Is their a toll road within a couple of miles that would make your commute a little bit easier?

By the time Jack finished reading Jill had cheered up, dired off and the food was ready to eat.  Jack spoke,”Jill I am making it part of our home search to find us a home that has covered access from the car to the kitchen.  I never want you to have to worry about getting soaked or slipping or…”Jill cut him off saying, “Thank you sweetie.”  And with that she kissed him on the scar of the side of his head and handed him a plate of Chinese food.  They ate in silence as the storm rolled through eagerly awaiting the next check point entitled:

“Jack and Jill Negotiate to Buy a Home..The Home Buyer Checklist You’ve Been Looking for (9 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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