Thursday, January 18, 2018

Never Start Out Shopping For A Home By Lowest Price

That's right. You should never start your home search based solely on a low price tag. I can't tell you how many times a buyer first contacts me to see a home whose price looks too good to be true, only to freak out at how unacceptable the area is for their standards.

My first question is: Why do you think it's priced so low? The equally shocking thing is they usually have never visited that area and know nothing about the neighborhoods. They've simply chosen the house because of the price tag.

Oddly enough, the first step I strongly recommend a buyer to take before looking at homes is getting pre-approved for a mortgage. This is the wake-up call everyone needs. You will learn you are approved for a lot more or less than you imagined. Hopefully the former. You will also avoid a lot of heartache due to looking at homes priced above your budget.

THEN it's time to start your home search, but not by lowest price.

How about this? Start looking in the areas where you know you want to live. Too expensive, you protest? Maybe you're looking at single family homes. Let's check condo prices. Still too high? Okay, now we move to areas a little lower on your wishlist. Are homes there within your budget? Condos? Hopefully yes. If not, on to the next. At this point, we are praying we find you a home you find acceptable in an area you can stomach.

What happens if we end up in that area where you absolutely will not reside? That almost never happens, if we take the right steps.

And remember: The buyer doesn't pay their agent's commission when they purchase a property. The Seller pays both agents' commissions. So there is no reason for you as a buyer to work with the listing agent whose allegiance, in the end, truly lies with the Seller.

Thinking of Buying or Selling? Call Gerry today at 323-528-9989.

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