Tips For Home Buyers #1

We've all seen articles and compiled lists of suggestions for buyers and sellers of real estate. Unfortunately, they all tend to say the same thing, and while this information may be useful, it's typically a bit too predictable. On this blog, I plan to periodically post tips for both the home buying and selling processes, in the hopes that many of these will be novel ideas for you to consider.

Please note that the tips are in no particular order, aside from being in the order they come to mind.

OK, on to tip #1 for Buyers:

Once you find your home - act as quickly as possible.

I like to tell my buyers that we'll see as many houses as it takes to find the right one for them, however, once we find it, they need to be prepared to move as quickly as possible on getting it under contract. The reason I say this is to avoid a multiple bid situation. This could only mean bad news for the buyer and good news for the seller. It usually means, in the best case scenario, a higher sales price than if you were the only bidder. And in the worst case scenario, losing the house of your dreams to a higher bidder.

Many times this can be avoided by proper planning and expeditiously making initial and counter offers. Some buyers (especially first-timers) like to get a second opinion from a relative or close friend, which is fine and often recommended, but try to do so in less than 24 hours when at all possible. Also, be sure to have a pre-approval letter from a lender in hand. In fact, this should be one of the first steps of the home buying process. But don't worry, it's quick and painless. It just takes one phone call and in many cases you will have the letter the next (if not same) day. Feel free to call or email me and I be happy to provide you with a list of great lenders in the St. Louis area.