If you are thinking of purchasing a home in today's market, here are 5 important tips:
- Get preapproved for a mortgage before you start looking. It will strengthen your position with a seller when you make an offer and lets everyone know you are serious about buying a home. It also confirms what you can afford and it starts the application process so you can close in a timely manner.
- Location is still the driving factor in purchasing a home. You can change almost everything else about a property except the location ( and your neighbors). Narrow your hunt by location first, then by price, size of the home, condition, etc.
- Do your research. Shop on line at either Ebby.com or Realtor.com to see every home listed for sale in the Dallas/Ft. Worth area. Drive around the area you are considering to get a feel for it.
- Work with an experienced, full-time agent who knows the particular area you are considering. They should know the inventory in the area, the nuances of the neighborhoods, and have a great working relationship with the other active agents who work that area. As your representative and your advocate, an agent can sometimes make or break a deal. Get a great one.
- Be realistic. The bottom of the market has past and sales are up. With home inventory at its lowest in years, Dallas sellers aren't that desperate any more. Be prepared to negotiate all the terms of a deal - not just the price, but the closing date, financing, option period, repairs, ... and other items that might come up. [where: 75230]