Real Estate Articles
If you’re thinking of buying a home, but don’t know where to start, or what to do, or you’re scared, etc., don’t worry—The GCI-Guys have you covered. We’re going to give you 5 easy steps to get the ball rolling, and at the end of the day, you’ll most likely save money investing in a home instead of renting. But more importantly, you are investing in yourself and your future, so get yourself ready to buy in the near future, or at least know what steps you will need going forward to set yourself up to purchase in 6 months or a year or two.
Five Steps to Buying a Home:
- Hire the right realtor – The right realtor for you will explain the entire process, will always be available, aggressive, and patient. Their sales record they show what they are doing. That is the realtor you want to put your trust in. Also, hire a realtor that will give you some money back at closing! Bottom line—choose a realtor with a great track record who will help you save money.
- Get a GREAT lender – Don’t just go to your bank for a mortgage loan because it’s your bank. In our experience, we find the big banks to have the most issues and take longer to close vs. private lenders or mortgage brokers. It doesn’t mean you shouldn’t go to them, but you should shop around and get a few quotes to see who has the best deal for YOU! The AWESOME realtor you hire—wink, wink—should be able to provide to you with a list of solid lenders they’ve worked with and can service you well. You need the type of lender and realtor that will answer their phone after 5pm and during weekends. Will a big bank loan officer do that? It’s doubtful. And please, be sure to get the loan officer EVERYTHING that is asked of you in a timely fashion and DO NOT make a major purchase or open new credit lines BEFORE speaking to your lender. This could affect whether or not you get the home loan.
- So you’ve found the area where you want to live in and the property you want to call home, now what? Listen to the advice of your realtor on these things – When to offer, what to offer, and please, follow their strategy. This is what we do every day of our lives. We know what it will take to get a deal done. If we say you need to jump on it right away, or the comps say X, but we need to offer Y, listen. If you want the home, don’t lose out because you didn’t follow the advice of the professional. Anyone can go on MLS, get showing instructions, and show you a home, but it’s the art of the deal that follows. Have a realtor that can negotiate correctly for you. I have seen some terrible realtors over the years, leaving money on the table for their clients, which means my clients came out on top. And I know there are times you want your family included, but I can’t tell you how many times a family member has cost a client a home they wanted. Keep them in the process, but let them know early on that this is your decision and you want to follow the advice of your realtor. Just because your dad has sold a few homes in Boston doesn’t mean he knows the Central Florida market. This is a touchy subject for some, but it happens. We get it—it’s a huge purchase and they care about your well-being, but so does your realtor, and they know what needs to be done to get you the home you want.
- You’ll need to hire a licensed inspector – This is a cost to you, as is the appraisal. Both are ordered by your lender and are requirements the lender nor realtor have any effect on whatsoever. They are roughly $400, give or take. The inspector will look at EVERYTHING and give you a detailed report with issues the home may have. At that point, your INCREDIBLE realtor will negotiate with the sellers to get you what you need to move forward and address concerns. You get what you pay for when it comes to an inspector. Don’t skimp on cost, please. Find someone who is highly skilled, a veteran in the business, and comes HIGHLY recommended. Your realtor should have strong relationships with multiple inspectors and will be able to refer.
- Relax – Put trust in the process. IT WILL ALWAYS WORK OUT HOW IT SHOULD, trust me on this. When it’s all over, you will have found the right home for you.
If you follow these five steps, you will have a great home buying experience. The GCI-Guys, myself, Gary, and our team of Realtors, WANT TO WORK FOR YOU! If you or someone you know is thinking of buying a home, please give us an opportunity. I promise you won’t be disappointed. But if not us, these same steps apply, and we wish you nothing but the best!