Is Buying a Home a little like doing the Limbo?
In this real estate market with short sales and foreclosures being the norm, many buyers are nervous and concerned about buying in this environment. Yes, it is like doing the limbo and seeing how far down in price you can go
…whether or not it is a RI waterfront home for sale, first time home buyer home, ocean front home for sale or vacation home for sale.
You need to be flexible in your offers on homes you want to buy – just like having the dance move in a limbo….agility and flexibility in negotiations is important. Lowest price may not be the most attractive offer to the seller- always consider the terms of an offer (talk to me about how to do this). That is why I work with buyers to explain every bit of the buying process and its nuances in order to make the deal happen.
Every buyer needs to be prepared for the process and the bumps that may occur with any offer…
- Find the choice home you want and make a good qualified offer on it.
- Negotiate the price based upon comparable recently sold homes in the market you are buying in while still staying within your pre-approved dollar mortgage limit (strong realtor and mortgage lender team).
- Perform the inspection on the home and present a detailed ‘Request for Repairs’ to the Sellers. If the home is ‘as is’ you will be doing the inspection for informational purposes only (talk to me about this process) and if you are not satisfied with the amount of ‘deficient’ conditions in the homes, you can step back, request your deposit back, withdraw your offer and move on to the next home for sale. However, the sellers may be willing to negotiate repair items to your satisfaction.
- Meet with your lender and ensure you are getting the interest rate and mortgage terms that are good for you. We want to make sure the underwriters are satisfied with all the paperwork they have requested from you as buyers. Of course, a home appraisal that meets at least the sales price of the home.
- A good real estate lawyer is also part of this team. He will review title for mortgage payoffs, liens, title issues, etc. He will be covering your back. You see the limbo line is getting a little longer here!
- You are at the final limbo bend and you are heading to the closing table and owning your new home.
No guesses to the process, you made it to the front of the limbo line!
Call me to guide you, support you and answer all the questions you might have in buying your dream home!
Call me now so I can set you on the Right Path to buying your home!
Ginny L. Gorman – North Kingstown RI Realtor – 401-529-7849
North Kingstown, South Kingstown, East Greenwich, Narragansett, Jamestown and Charlestown RI Homes for Sale – waterfront homes, ocean front homes, luxury and vacation homes are my specialty.
