Tips for Buyers
| Let Wayne & Cindy Garner guide you through 8
important “TIPS” when buying your home.
#1 Use the services of an experienced REALTOR.
Many times buyers avoid using the services of a REALTOR under
the mistaken belief that it costs them money - or that they
will be able to negotiate a better deal directly with the seller
or seller's agent. This can be an expensive mistake.
If you are negotiating directly with the seller or seller's agent, you may not be taking advantage of the best deal available in the marketplace today! You can have your own REALTOR, a Buyer Broker or Purchaser's Agent, who is committed to using the experience gained through hundreds of successful negotiations for your benefit - at no charge to you! Your agent can be paid from the same commission that the seller's agent is paid from - by the seller.
Real Estate is a unique business, where an agent with one day's
experience and no sales gets paid the same as an agent with
several years experience and hundreds of successful sales. I
can help you avoid mistakes outlined here, and make your home
buying experience an enjoyable, stress-free one!
#2 Understand who the agent is really working
It is important for buyers to know and understand for whom the
agent helping with the house hunting is actually working. The
agent may be working as a sub agent - representing the seller's
best interests during negotiations - or as your agent representing
your best interests during negotiations. If you are not sure
who your agent is working for - ask for clarification. Cindy will fully explain agency. When negotiations commence,
wouldn't you want to know whether information you divulge will
be used for the seller's benefit - or your's?
#3 Have a Comparative Market Analysis prepared
Before you make an offer to purchase that special home, you
must have a good idea what the market value is to ensure you
do not overpay. Cindy can prepare a Comparative Market
Analysis showing what similar homes have recently sold for,
and the difference between the asking and selling prices. This
is the same type of report the seller receives when deciding
on an asking price. Wouldn't you like to have access to the
same information as the seller?
#4 Understand the different negotiating
styles and strategies.
Many buyers think that the way to achieve a fair purchase price
is by offering low. This is the strategy of the buyer who is
not in possession of all the facts essential to negotiating
the best possible deal. Many times that type of strategy will
polarize negotiations and lead to inflexibility on part of the
seller - or worse yet - failed negotiations!
If you have chosen your REALTOR wisely, the most effective strategies for this particular situation will be revealed to you. Remember, in the real estate business, an agent with many successfully closed transactions usually costs the same as someone who is inexperienced. That experience could mean a better deal at the negotiating table with a minimum amount of hassles.
#5 Have the home inspected by a competent
home inspection company.
Buying a home is a major purchase usually made after spending
just half an hour looking at the home. Isn't it worth ensuring
you will not be surprised later with deficiencies costing thousands?
I can recommend several reputable companies for you to choose
from, and will ensure the appropriate clause is inserted in
#6 Understanding your rights and obligations
set out in the Offer To Purchase.
It is important to understand completely the terms of the Offer
to Purchase. Wrong assumptions, poorly written or missing clauses,
and not understanding how the clauses affect the purchase, can
lead to increased costs or a void contract. I can thoroughly
explain the agreement to you and help you to fulfill your contractual
#7 Validating emotion & blind reason.
Buying a home is an exciting time and is usually an emotional
decision. It is important that those emotions be validated by
facts and reason. I will help to remove the emotion from the
negotiating process and provide you with the information you
need to make the right decisions.
#8 Take the steps to be financially pre-qualified,
and having an interest rate guarantee before looking at homes.
Knowing how much you can comfortably afford will ensure you
are looking in the right price range and prevent you from buying
a home that will strain you financially and emotionally. Having
an interest rate guarantee will protect you in times of fluctuating
rates and ensure that your initial projected payments do not
suddenly escalate, resulting in extra interest charges. I can
help you initiate this process and can also recommend alternative
sources of financing.