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Even smart people make common real estate and home buying
mistakes. Here’s how to avoid them.
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| Kick some Bucks County real
estate tires |
1. Shop and Compare
homes.
Walk through several Bucks county real estate for sale MLS listed
homes that are for sale in your price range and located in the
area within Bucks County you want to live. By reviewing multiple
for sale homes and real estate in the market you will be better
prepared to recognize overpriced homes and real estate and obtain
the confidence to know a good home value when you see it. |
Get help from a Bucks County
real estate
local insider |
2. “Pick the brain”
of a smart Bucks County Realtor.
All Realtors are not created equal. If a Realtor does a lot
of self-promotion, that does not mean they have the most real
estate experience and are respected by their peers. If you are
a Buyer in a hot MLS market , presenting a home offer through
a top Bucks County Realtor gets your offer noticed and taken
seriously. Top Realtors know the real estate sales process,
all about real estate financing, how to remedy inspection issues
and are expert real estate negotiators. Great Realtors will
get you the home you what. Great Realtors know the pros and
cons of homes in there city and market area and may even know
about homes not yet available but that will be soon. Ask Smarter
Agent to
recommend the best Realtor in your town. |
| A mortgage makes your real
estate purchase happen. |
3. Get pre-qualified for a
mortgage.
Get over financial hurdles before you put in a home purchase
offer. Find a good mortgage professional and go over what you
can afford. A good lender will give you a pre-qualification
letter even before you find the home you want. There is nothing
worse than finding a home and losing it, or worse, losing your
deposit because you can’t close the deal. Get a mortgage
application. |
| Budget for all your life needs |
4. Don’t over mortgage
yourself.
There are so many mortgage products, you may be tempted or advised
to borrow as much as you can. But be warned - there is nothing
worse than getting in over your head. Make sure you can afford
to live comfortably in your home, put money aside for your children,
and have cash on hand to pay for unexpected events. Don’t
assume your home value will keep appreciating at the same rate
it has over the past 3 years. Do assume your home carrying costs
will rise! Your annual local real estate taxes and homeowners
insurance rates will most likely rise each year. If you have
an adjustable rate mortgage, your monthly mortgage payments
will eventually go up. Housing markets eventually cool, but
your payments never stop - be prepared! |
| The Agreement of Sale is key
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5. Put all the details of your
home purchase in the Agreement of Sale.
The Agreement of Sale spells out the timing, terms and dollar
amount of the real estate transaction. Don't take anything for
granted, or rely on promises from the Seller or their real estate
agent. Have your Realtor put all conditions of the home sale
into writing, and get the seller's written approval for any
modifications or amendments to the Real Estate Agreement of
Sale. |
| Inspections |
6. Use a professional Home
inspector.
Make sure all electric, gas water and other utilities remain
connected so you can inspect the home in working order. Get
a qualified home inspector to do a review of the house and prepare
a written report for you. Go over the report with the inspector
and your agent. Agreements of Sale usually allow a few days
to bring any serious defects to the attention of the Seller
- so a resolution can be attempted. |
| Final Home Check |
7. Do a final house assessment.
After the Seller moves everything out of the house, take a walk
through the house a day or two prior to settlement. Make sure
the home is ready to be transferred in good shape as outlined
in the Real Estate Agreement of Sale. This will be your last
chance to ensure everything in the house is in working order
prior to settlement. |
| Let your real estate team show
you their best stuff |
8. Be open about your timing,
financial condition, and lifestyle needs.
Be open about your timing, financial condition, and lifestyle
needs.
A good Realtor is trained to find solutions to fit your needs
– in ways you may have not yet considered. You may say
you want a house on a golf course, but your retired spouse may
feel more secure in a low maintenance gated condo community
where you can play several of the regions courses with less
carrying costs. A good Realtor can take the information you
give them, and translate that into unique property solutions. |
| Be Flexible |
9. Try to relax.
From negotiations to closing and moving dates, focus on getting
the deal done, not winning every battle. Delays and complications
are part of most real estate deals, as both you and the Seller
are completing a very time consuming, expensive and sometimes
emotional transaction. Most issues are resolvable. If you’ve
done your homework, have a great Realtor and mortgage team,
you can be confident you will get a good deal and avoid mistakes. |
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Our real estate experience can help you avoid mistakes in the
home buying process.
We believe it’s important to pick the best real estate
professionals off the bat.
When you start your search with Smarter
Agent, you can call
or email us with any questions from your first internet
search straight through to your actual closing and beyond!
Get savvy, try SmarterAgent.
Smarter
Agent will save you a lot of time and help you get the best
deal with the least hassles and at the best price.
HAVE A QUESTION ABOUT BUYING A HOME OR COMMERCIAL PROPERTY
IN BUCKS COUNTY - ASK IT HERE 800-727-1787
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| Bucks Information Links |
Andalusia Foundation
The Art &
Soul of Bucks County
Mercer Museum
Bucks
Planning: Local Government Profles
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| Regional
Real Estate Search Portals: |
|
Atlantic City, NJ homes and real estate
Wildwood, NJ homes and real estate
Berks County,
PA homes and real estate
Chester
County, PA homes and real estate
Philadelphia,
PA homes and real estate
Miami, FL homes
and real estate
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