Editors note: We asked our friend and realtor Jill Collins to share some tips on home buying with our readers.
In today’s market homes are moving faster than ever! With the average home showing a pending status in 24-48 hours after listing, there is no time to waste. Here I’ll share 5 tips for buying a home.
Tip 1. Find an agent that you can mesh with and who makes you comfortable. You should never feel like you are inconveniencing them or asking dumb questions. We have all or will be first time home buyers.
Once you’ve found the right agent be sure to use only that agent. In our field, loyalty means a lot and we want to be your go-to for any future transactions. Most of us even get emotionally invested in our clients and therefore work even harder to get them to where they want to be.
Tip 2. If you want to search for home listings in Indiana go to MIBOR.com. While some apps and websites like Zillow and Trulia are easy to use, they aren’t always accurate. Listing agents update MIBOR.com and then the other sites are updated later. So to keep up on status changes or price changes stick with MIBOR.com and you won’t be at the mercy of a slow server. If you’re outside of Indiana, ask your realtor which site they recommend.
Tip 3. It may take you one showing, it may take you 50. But when you find “the one,” sit down and work out the details of your offer with your agent. Keep in mind, your agent is the professional and will guide you along the way with this big step in life. You may be nervous but they do it every day. Part of the offer process is deciding if you will be reserving the right to an independent inspection. This inspection is for the buyer’s information only and does not have anything to do with the loan process.
Tip 4. Once an agreement is reached between the buyer and seller the buyer will start to work with their lender to gather all the documents needed to finalize the loan on their new home. Time is of the essence! When a lender says they need a document, they mean they needed it yesterday. Remember, the longer it takes you to get them the necessary paperwork, the longer it takes you to get to the closing table.
Tip 5. The day you close on your home is an exciting one! It can be overwhelming! Take a deep breath, enjoy the moment and remember everyone who helped you get there whether it be family, friends, or the professionals.
And, take a stress ball to the closing table for when your hand cramps while you sign your life away 🙂
w/ Re/Max Realty Group