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Buying Tips by: Peter Phillips There may be some things you may not have thought about when purchasing a new home, so here is a form of condensed home buying guide, seven home buying tips to consider in purchasing a home. Tip 1: Be an astute buyer Purchasing a home is not an impulse purchase, similar to those things you buy in the supermarket that you never actually went in there to buy. If you do get that "I must have this house" feeling, go home and think it over. Talk to unbiased friends and relatives, but remember that they are not the ones spending the money - tell them from the outset that you want a realistic and objective view
Tip 2: Use a real estate agent you feel you can trust. Tell your real estate agent what you are looking for in a home, and just as importantly, what you don't want. Tell him your realistic budget, a price above which you will not go. Get him to show you at least five properties - if there are some which you don't like, tell him why. He should then be able get an even better feel as to what you are looking for and zero in on finding a property which fulfills all your criteria.
Rule 3: Find out about the current insurance arrangements. If you are interested in a house, ask the owner about his insurance company. You may be able to take over the current insurance, which may be cheaper than establishing completely new insurance, which may require a new valuation to be done. Tip 4: Have your money available right now. Nothing persuades a seller to sell more than having someone who can give him cash right now. Go for a short settlement date, which confirms that your offer is a serious one. You should be able to cut thousands of dollars off the asking price if you are a genuine cash buyer. Tip 5: Keep on top of the whole buying process Even though you have a real estate agent working for you, you need to know every detail of the transaction. After all, this is a substantial amount of money you are parting with, and you must not forget that the prime focus of the agent is to get a sale, and he may be tempted to disadvantage you in order to get one. Tip 6: View your prospective house on a rainy day. Of course you cannot plan the weather on the day of an open home, but if it is raining, that’s not necessarily a bad thing. You will find that not many other people will bother to go out in adverse weather, which means less competition for you on the house you intend to buy. Also the rain will help you check for leaking downpipes, or perhaps even leaks in the roof. Look for where the puddles are – are they in a high traffic area?
Tip 7: Note down points about every potential purchase. Take a notebook with you every time you go to view a house. Write down notes at the time, otherwise you may forget certain points if you rely on your memory. Put all your possibles into a form of spreadsheet, perhaps give each point you have noted a rating in terms of importance to you. You can then make a direct comparison between the homes you have seen, and see which one has the best total score. © www.money-makingopportunities.com
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