7 Steps to saving money when purchasing a new home
As a Buyer there are some things to consider. First of all you should choose a Realtor you can trust and one with which you will enjoy working. Maybe someone like....ME. ;-)
Seriously though a good agent is essential to finding you the right home and negotiating the right price. While keeping the experience as enjoyable and relaxing as possible. As a Realtor it is my job to write up a contract that is both unbreakable and has your best interests in mind
The next thing to do is get a Mortgage Broker and if possible a Mortgage Pre-Approval. A Mortgage Broker provides a free service that can set you on the right path to finding your new home. It is important to know how much you can afford. The last thing you want is to limit your options or even worse find the perfect home only to realize you can't afford it...everything you see after that will be a big disappointment. Click here to learn more about the reasons to use a mortgage broker: http://karenshale.com/artman/publish/what-is-a-mortgage-broker.php
Getting a Pre-Approval can also save you money. Think of this as a bargaining chip when writing a contract. The fact that you have a pre-approval will make your offer more attractive. This can often entice a seller into accepting a lower offer as they will feel more secure and will see your offer as more stable and less likely to fall apart.
At the moment it is a buyers market. That means that there are often deals to be had. I will find you a home that you can afford and will alert you to any outstanding bargains that may be available. I am often aware of homes before they even hit the market and that can give you an edge. When we find the right home I will advise you as to the best course of action to get the home at the desired price...or less.
STEP 4 - Negotiate the best price.
As your agent I am well versed in the art of negotiations. I have extensive experience in dealing with sellers and agents of all sorts. Finding out a seller's motivation for selling can help me know the best course of action when proposing the offer. Some sellers are desperate to sell, some are not. The ones that are not desperate need to be sold the merits of your offer. I have to be a bit of a chameleon when presenting an offer. I need to know how to act to win them and their agent over; to make them understand why YOUR offer is the best one. It can be a good agent bad agent kind of situation. Some people want to control the proceedings and you need an agent who can handle themselves in these situations...remember it's your money on the line. There are some things we can do to make an offer more appealing:
- Don't do subject to sale of your home (if you can help it). In this market it is important to sell your home first before you even begin to look for a new one. This may seem scary but with the right planning it is nothing to fear. What you have to do is write your contract with dates that will meet your needs. Give yourself time to find a new home. With all the homes currently on the market it should be a piece of cake to find a home fast. And don't forget this will save you money.
- Keep your subjects to as few as possible while still keeping yourself covered (I will direct you as to the best subjects to include when the time comes...every offer is different) Subjects included: financing, inspection, title search, property disclosure review, levie search, etc
I enjoy the negotiation process...I compare it to chess...you have to stay one move ahead of your opponents if not more.
STEP 5 - Inspectors, Lawyers, and Notaries...oh my.
Whether you need an inspection or not. Or you want to use a lawyer or a notaries I can point you in the right direction. I have a great group of people who I have referred clients to and who I know will do a bang up job at a reasonable price. Whether you choose to use a lawyer or the less expensive option of a notary it is your call. The fact of the matter is that a simple home purchase can usually be taken care of by a notary. A lawyer will provide better and more secure service and may be necessary for more complicated transactions. If you are uncertain of anything you can always turn to your lawyer to help you feel more secure and answer any legal questions you may have. A notary on the other hand is more of a rubber stamp service.
Step 6 - Removal of subjects
If you want the house to be yours we have to get the subjects of the contract to make it binding. I will gather all required documents quickly and steer you in the right direction as to who to speak to and why. Sounds easy and it should be but every once in a while we come up against uncooperative sellers or forgetful agents. Or what if we found your home as a ‘for sale by owner' you will need a lot of help getting that deal to stick together and that's what I do.
Step 7 - Move in day
I will get you the key and a truck if you need one to help you move and off you go. Enjoy!
Century 21 Assurance Realty (Kelowna)
Cell: (250) 859-5990
Office: (250) 869-0101
Fax: (250) 869-0105
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