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Let’s Go Shopping!
You know that you want to buy a home, how much you can afford, and an estimate of how much you pre-qualify for. Now you have to get out there and find one! But, before hitting the streets, you will need to make a few key decisions.
What type of home do you want?
Options include single-family homes, condominiums, co-ops and townhouses, depending on your price range and your need for space and property.
Do you prefer a newly built home or a resale home?
You may want the warranties and efficient construction of a newly built home, as well as your ability to customize it for the first time. On the other hand, you may find a good deal on a resale home, which may need a little elbow grease. The choice is up to you.
What are your wants and needs in a house?
How many bedrooms? Garage? Basement? What kind of schools are in the area?
Will you use a real estate agent, or shop on your own?
Many homebuyers choose to work with a real estate agent or broker to help them find a home. Since finding a home, negotiating the contract and closing the deal is such an important transaction, an experienced agent can provide guidance and help to avoid potential pitfalls.
An agent should have a vast knowledge of the real estate market, price trends and neighborhood conditions. The agent will help you shop for your home, tour properties and be your negotiator if bargaining over price is necessary.
If you decide to use a real estate agent, you should take great care in selecting one to meet your needs. You may want to ask family, friends and co-workers for referrals to agents that they recommend.
Making an Offer
When you become more certain about the type of house and neighborhood you want, you may want to make an offer. Before submitting your offer, consider the following:
While bargaining, keep in mind some signs of an overpriced house. With the correct negotiating you may be able to get a lower price:
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