Tips for Gulf Coast buyers
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The easiest thing to acknowledge as beneficial for some one getting ready to purchase real estate is knowledge. The more you know, the better. Do your homework and make sure your realtor has done theirs. No one wants to be contractually obligated to something they may not want. You know what I'm talking about. It's a feeling of too much or not enough, left or right, up or down; basic uncertainty. In Alabama, there is no recourse once the dotted line has been signed. It is a "buyer beware" state. In other words, you need to know everything about what you are doing and that's where your Realtor/Buyer's Agent comes in.
The best way to approach buying real estate is to properly prepare yourself and know going in that this is going to be an emotional endeavor. For most, the purchase of a home is a their life's biggest investment. The reason for this page is to provide you with some tips to help limit the stress and get through the difficult part of buying real estate as easily as possible.
Get help. In order to be as successful as possible in all facets of the buying process, your real estate agent can make all -the-difference. Your agent does this every day and knows how to handle the things that surface during this transaction. Your agent should not only be able to diagnose potential problems before they become problems, they can answer questions that you have probably never thought of as they arise. This, in itself, is comforting knowing you have some one there with you all of the time. Your agent should seem like a friend in helping you accomplish a goal. The right agent will be someone whose experience and personality makes you comfortable. The more familiar your agent is with the area you are buying in the better.
Get pre-approved. This is a step that many over look. It can be terribly frustrating to search for real estate and find the perfect home or condo and then learn it's out of your price range. Another benefit of being pre-approved is that it gives your offer validity. A seller considering lowering their asking price will have an easier time if the buyer is already pre-approved.
Avoid major purchases. When determining the amount of money a financial institution will be able to lend you, a debt-to-income ratio is devised. This is basically your net income after monthly bills such as: housing costs, car payments, student loans, credit cards etc... If you take on more debt before you apply for financing, it will influence the banks decision on how much they are able to loan. So wait until after closing to buy that new boat.
Pay attention. Take an interest in the current shape of the real estate market you are looking in. This could mean checking to see how much similar homes or condos are selling for, keeping track of new listings or shopping for real estate on line. All of this can be done from this site and you can sign up for our news letter which contains this type of information.
Ask Questions. While you are viewing property and the seller is present, no one knows more about that specific home or condo that the seller. However, understand that it's not always in the seller's best interest to divulge everything and that's why a home inspection can be such an important service.
If you have questions or would like to discuss anything real estate related, we are a phone call or email away. (251) Area-Pro