Before You Buy Your First Home…
- Research properties online, but don’t make a decision until you’ve toured a number of places, talked to neighbors, and developed a feel for the community.
- Prepare a monthly budget, and factor in costs for taxes, association fees, insurance, maintenance and repairs, as well as the mortgage.
- Make sure that any contract that you sign, even for a foreclosed property being sold “as is,” has a clause that allows you to have an inspector examine the property, and to cancel the deal without penalty if you don’t like the findings. That will give you an out should the cost of repairs be too high.
- Understand that any contract that’s prepared by the seller will protect the seller’s interests, not yours. Read it carefully and question any provisions that you disagree with or don’t understand. Consider having your own attorney review it.
- Realize that if you back out of a contract, you may lose your deposit and be liable for brokers’ fees. If you don’t have a valid reason to cancel, legally you may be obligated to go through with the sale.
Read this story in the Wall Street Journal about “Rookie Home Buyer Mistakes.” Is very important to discuss with your agent your goals, wants and needs. As your top Sherwood and surrounding area real estate team, we’ll spend a considerable amount of time ensuring you understand every-step down to finding just the right home or investment for your needs. As your advocate, we bring with us the gift of valuable experience that we’ll pass down to your respective transaction. As your Realtors, we’ll communicate and work with you side-by-side to insure you don’t embark on a journey you may later come to regret – as the home buyer in this Wall Street Journal story did.
Choosing the right Realtor to work with is your first important step. We welcome the opportunity to be of service to you. Top producing results that can save you time and money is one reason to call our team… Some of our clients have come together to share a few more – Click Here!
