If you’re considering buying this spring, you may be concerned with the amount of stress that buying a home can bring. However, the home buying process can be stress free if you go about it the right way! As the team of advisors and Prudential Rubloff Real Estate agents here at Shoreline Property Advisors, we have years of experience in the Indiana Shoreline Real Estate market and can assure you that it’s possible to enjoy buying a home from the moment you begin searching for your Indiana Shoreline home to the moment you sign the contract. Here are seven key ways to have a stress free home buying experience. Trust us; they’ll make a difference!
1. Know when it’s the right time in your life to buy- Decide whether to buy based on your life and what makes sense for you, your family, your plans and your finances. Then, use the news about what’s going on in the market to decide how to buy: what kind of house to buy, what sort of loan to use, how much to offer, and other strategies for executing your home buying plans.
2. Get a good grip on what to expect during the homebuying process- Research as much as possible, but be sure to decide on a trusted Indiana Shoreline Real Estate agent as soon as possible. They’ll be able to give you a layout of what you can expect from buying an Indiana Shoreline home. Ask your agent when you’re expected to show up so you can take time off work, and when you’re expected to write checks so you can be prepared.
3. Learn how to prevent money surprises during escrow- When you first apply for a loan, you’ll receive a good faith estimate which is a standardized list of costs associated with obtaining the mortgage and a breakdown of the monthly mortgage payment due on the mortgage for which you were approved. Keep in mind this is just an estimate. When you close on escrow, you’ll pay prorated mortgage interest and property taxes from the date of closing till the end of the month. The date of closing can make a difference in thousands of dollars required to close. Ask your Indiana Shoreline Real Estate agent to help you set your closing date in accordance with the cash you have at your disposal.
4. Find the right Indiana Shoreline Real Estate agent- Finding the right Indiana Shoreline Real Estate agent can make all the difference! Be sure to look for the following: member of the National Association of Realtors, experienced in the transaction you envision (short sale, foreclosure, etc…), great referrals and testimonials, is a problem solver, and appeals to your personality style (you could potentially be spending a lot of time with your realtor, so you want to make sure it’s a good fit).
5. Solve the problem of how much you want to offer- This can be tricky, but there are some ways to determine the price of your offer. Your Indiana Shoreline Real Estate agent can provide a Comparative Market Analysis (CMA) which shows what other houses in the area are selling for. You can also determine the price by the sellers’ motivation to sell as well as the current market factors- which happen to be in the buyers’ favor right now!
6. Avoid buying a lemon- You may have nightmares of coming home to a recent home purchase only to find it falling apart. Ways to avoid this are to thoroughly go over the disclosures which are required to list out issues or recent repairs within the home, get a home inspection, have contingencies in place when making your offer, maintain a home warranty policy that will cover many major malfunctions for a service call fee.
7. Know when to remove contingencies or waive objections- Removing contingencies or waiving objections usually puts thousands of dollars on the line, so it’s not a step to be taken lightly. Plus, by removing contingencies or waiving your objections, you are essentially telling the seller that you plan to close the deal — something you just shouldn’t do unless and until you are satisfied with the following items: title, disclosures and inspections, condition issues, appraisal and underwriting. Your Indiana Shoreline Real Estate agent can help you determine if and when you need to take this step.
So, whether you’re buying an investment property, vacation home or relocating to the Indiana Shoreline; we hope you’ll find these tips helpful!
Anytime you have a question regarding the Indiana Shoreline Real Estate market, or are ready to begin your Indiana Shoreline home search; let us know! We would love to talk with you more and learn how we can help you achieve your real estate goals.
We look forward to helping you enjoy a stress free home buying experience!
Shoreline Property Advisors
@ Prudential Rubloff
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