Buying a home

Posted by April Palmer on Wednesday, February 5th, 2020 at 4:17pm

Buying a house can be a daunting process. I am here to help walk you through all the steps to make the process as easy and enjoyable as possible. There are a few different categories of buyers. The first category are buyers that need to move immediately, whether it's to move for a job, or maybe they sold their home and haven't found that perfect next house. The second category are people that know they want to move, but don't need to move immediately. Another category is investors. They buy and sell all the time and are very familiar with the process. I will save this category for another blog. The last category are people that want to buy a house but aren't ready, but they want a goal they can work towards. I will go through each category one by one. 

So you need to move now! You've been pre qualified by a lender (or are willing to be ASAP). You either have decent credit, a down payment/earnest money, or cash to buy a home. These buyers are ready to look NOW. There is nothing more exciting than touring homes with people that are ready to act. I like to have a buyer's consult and go over the process and get a good feel for their "must haves" and "can't haves" before touring homes. If you are ready to act, time is of the essence. Some homes sit on the market and have less of an urgent feel, but others attract multiple offers and go over ask. Negotiating is so fun! What makes a good offer? Well, it depends on the house, the market, the location, days on market, time of the year etc. Sometimes a good offer is to come in well below asking price, but have solid financing. Other times, a good offer for a buyer it to come in over asking, assuming the market is strong and the buyer is attached to a particular home. What you can be assured of is that I will always work for YOU, the buyer. 

The next category are buyers that want to buy but aren't in a hurry, maybe they rent but their rental agreement has a couple of  months left on it and they are casually looking. These buyers will be put in touch with a mortgage broker (assuming they need financing), we will have a discussion about "wants and can't haves" and we can start casually touring homes. Sometimes you will find the perfect house immediately and not want to pass, for fear it won't be on the market when you're "ready". The perfect house might be worth paying a couple of months of rent to buy out a rental agreement, or you can take your chances. 

Lastly, there are buyers that think buying a home is a distant dream. Perhaps you have credit issues that need to be worked through. A good mortgage broker can help you with a plan so get your credit scores up. Ask me for a recommendation if you don't already have a mortgage broker and they can help target your debts and credit scores. The common myth is that you have to have perfect credit or a large down payment and neither of those are true. There are thresholds for credit and that is where a good mortgage broker comes in handy. There are also down payment assistance programs. With low interest rates, the main issue is can you afford your monthly payment? If so let's start the process, even if it takes 6 months to a year to fully get your ducks in a row, in the end it will be worth it when you're working towards equity. 

Do you know buyer's commission is paid for by the seller and negotiable? I work for 2% buyer's commission, with the remainder put towards your closing costs. This is per lender approval, as there are rules and laws that govern buyer's agent commission, but trust me when I say I will work hard for that 2%! Call or text today 360-348-3162 and let's get started, no matter which category you fall under, we can work towards your goal together! 

 

April Palmer

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