What Every Buyer Should Know!

I got one of those wonderful emails a couple of nights ago...'I got your name from so-and-so and I would like to buy a place.'

If you are passionate about selling real estate, this is one of those moments that gets your blood racing and your heart beating faster (ok, maybe a bit of an exaggeration, but it is still exciting!).

What are the first things a buyer needs to do after contacting a Realtor?  Here are some of the things that I immediately ask of any new client:

  1. Have you spoken to a lender? This is number one. The theoretical house purchase is all fine and good, but a serious buyer will checklistunderstand their financial position. Very rarely will I ever take someone out to look at a property if they haven't had extensive conversations with a reputable lender.
  2. What do you want to spend every month (not what you are approved for) and how does that translate into price ranges?  A condo is more expensive than the asking price, since monthly condo fees are required. The same goes for a townhouse--and even some detached homes. Once we know your monthly number, we can determine your price range.
  3. Where do you want to be? The country? The city? Suburbs? Near a metro? Near a bus stop? Near a certain school? Near a country club or other social venue? Lifestyle is an important consideration in choosing a new home!
  4. What are your 'must haves?'  Do you have family stay for extended periods of time? You will have different needs than someone who plans to live alone and work all the time. There are some things on eveyone's list that are non-negotiable. Figure out what those are because you will definitely be making compromises.
  5. What are you like-to-haves?  These are the compromise things. Make sure you know how they rank (and be aware that their location on the ranking list could change).

Buying a new home is much more than just seeing a place on-line, going to see it and writing a contract. It is important to give a lot of time and thought to all aspects of your purchase.

Ask yourself the hard questions now so you don't have to ask, 'why did I buy this house?' later!

 

***If this post looks familiar, you aren't losing your mind. I am attempting to determine the value of a title by re-blogging it with a better title. All other parameters for posting are the same (except day of the week--okay, this is not true science!). Stay tuned in the next week for a post letting you know if /how the better title affected the interest level.

 

If you like what you've read, please consider subscribing to my blog by clicking on the Orange RSS button and following the instructions. Thanks!

 Momentum Realty

A GREAT Real Estate  experience.

If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

The contents of this blog may not be copied or reproduced without the permission of Holly Weatherwax.

 

 

Save

Comment balloon 2 commentsHolly Weatherwax • July 19 2013 12:36PM
What Every Buyer Should Know!
share
I got one of those wonderful emails a couple of nights ago.. 'I got your name from so-and-so and I would like to buy a place. ' If you are passionate about selling real estate this is one of those moments that gets your blood racing and your… more
What are you looking for in a new home?
share
I got one of those wonderful emails a couple of nights ago.. 'I got your name from so-and-so and I would like to buy a place. ' If you are passionate about selling real estate this is one of those moments that gets your blood racing and your… more
It's a house, not your baby!
share
We are often blind when it comes to our children They are earlier to walk, to speak, to smile than other children. They are cuter and more precocious than anyone else can detect. Because we spend so much time with them, we fall in love… more
10 Cool Things to Do This Week In Northern Virginia to Beat the Heat
share
We are supposed to hit all kinds of heat records here in Northern Virginia this week. Here are 10 things to consider if you are looking for something 'cool' to do! Reston's Bow Tie Cinema has a free kids summer series (first… more
First Time Buyer Advice: Financing Your Home Purchase
share
If you are considering your first home purchase, you need to spend some time considering how you will finance the property. First time buyers often have different considerations than other purchasers. Their income is often good, but… more
Rest In Peace, Gigi
share
Recently, we took our French Bulldog, Gigi to the Vet for the last time. She had been pretty ill and we had regular conversations about how much time we had left with her. When she stopped eating and drinking, we took her to the vet,… more
One of the costs of closing is Title Insurance, why do I need it?
share
Nearly every buyer settlement includes a fairly detailed discussion about the need for title insurance. It is a line item on the HUD-1. When you buy a house using a mortgage, you are required to buy title insurance for the mortgage holder. The… more
Not a conversation for polite company--but worth having!
share
We've all been there A quick visit to the powder room and there is no plunger. This only happens a couple of times before there is a plunger stationed in every bathroom. Problem solved. There is a better way, however, to solve this… more
2013 Northern Virginia 4th of July Fireworks
share
Have you made your Northern Virginia plans for the 2013 July 4th Fireworks Living just outside of Washington D. C., Northern Virginia residents can take advantage of the Nation's Fireworks display and head down to the Mall in D. C. or watch the… more