RX for

Home Buyers

Doctor Cleek Prescribes…

Choose a Buyer's Agent you trust and feel comfortable with and let them guide you through the process.

Contrary to a popular misconception, a Buyer's Agent is one of the few things of value that cost you nothing. Buyer's Agents don't get paid at all unless they are successful in helping you find a property that meets your needs. When you buy a home the Seller pays the commission for both agents unless you and your agent have agreed on a different arrangement.

Don't start looking at homes before you know what you can afford

If you start looking at homes before you know what you can afford, you risk setting your expectation level so high that none of the homes in your affordable range will be acceptable. Never let a Buyer's Agent convince you to buy more than you can afford! When the mortgage payments start, you'll be on your own. Your Buyer's Agent will help you find a loan officer who will work with you to determine what price home you can afford and provide you with a pre-qualification or pre-approval letter before you start looking at homes.

Don't call the Sign Agent for information about a home.

The sign agent is the exclusive representative of the Seller and by law in most states cannot act as the representative of both Buyer and Seller. Your Buyer's Agent will have access to all pertinent information about all listings in the area. If there is a need to contact the listing agent, your agent will do this for you.

Don't visit Open Houses without your Buyer's Agent.

If you do visit an Open House without your agent, be sure to give the host your Agent's business card. Otherwise they will be calling you back seeking to become your agent.

If you have an existing home to sell, Place it on the market before you make an offer on another home.

There is no worse feeling than to lose the 'perfect home' because your present home didn't sell in time (unless it is making payments on two homes at the same time.) Consider asking your Buyer's Agent to list your present home. This keeps both parts of the buying and selling process coordinated.

Be clear on what you NEED in a home versus what you WANT in a home.

If you can afford to include some of the items from your WANT list, that's great, but not if it means you are so over-extended financially that you can't enjoy the home you purchase. By all means don't sacrifice QUALITY for FRILLS. Granite counter tops or a hot tub may be nice to have but they are not as important as a solid foundation or a dry basement in terms of long range value.

Don't hesitate to make an offer when you find the home that meets your needs; but don't act so quickly that you fail to engage in due diligence.

If you spend enough time at the beginning to clearly define your needs, determine what you can afford, and arrange for financing, you can act quickly before someone else buys the house you want. Visit the house several times, drive through the neighborhood at different times of the day, take different routes to get there, locate key services such as supermarkets and schools to make sure you are comfortable with the neighborhood. Meet some of the neighbors before making your final decision. It is people that make life enjoyable and you should make sure you are comfortable with the people around you.

Never negotiate out of fear, but never fear to negotiate.

It is through the process of offer and counter-offer that a mutully acceptable deal is achieved. If you do your homework and frame your offer realistically based on the market, you will be negotiating from strength.

Never Fall in Love with a House unless you own it.

If you don't follow this advice you are likely going to pay too much for the house or if your offer is not accepted you will have a hard time finding another house you like as much.

Never talk directly to the Seller's Agent or the Seller about your plans, interests, financial ability, motivation, urgency, etc.

Your Buyer's Agent is a professional, trained to negotiate the best deal for YOU, the Buyer. The Seller's Agent has a professional duty to negotiate the best deal for the Seller. Don't complicate the process by inadvertently revealing information that makes your Agent's task more difficult and may result in your paying more for the house. What the other party doesn't know, can't hurt you.

Employ licensed professionals for all inspections.

Inspections serve three very important functions: They identify problems that must be corrected before you close on a house. They identify other problems that you will want to correct either before you move in, or shortly thereafter. And, they may provide your Agent with items to be used in negotiating a better deal for you.

If you have selected the RIGHT agent and followed your agent's advice, you should get ready to start packing and prepare for moving into your new home.

Cleek

Call or text 913-709-4423 to arrange a meeting with

John Cleek, Ph.D., The Real Estate Doctor.

THERE IS NEVER A CHARGE FOR CONSULTATION

KW LOGO
DIAMOND PARTNERS, INC

© 2011-2017 John Cleek, Ph.D., The Real Estate Doctor