Buyers

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The choice to purchase a home is one of the most exciting and rewarding decisions you will make.  After all, a home is the biggest investment most people will make in their lifetime. So, how do you determine if the timing is right for you to purchase?

There is not a wrong time to buy the right home. The key is finding the right deal and  carefully evaluating your financial situation.

Purchasing your home is a smart investment that can provide these financial benefits – accrued equity, appreciated value, tax deductions.  And of course pride of ownership too.

Don’t feel like you have to be an expert to get started.  Your Pacifico Properties Broker will guide you through each step.

Know that an excellent broker puts their client above all.  When searching for the right real estate professional look for these things:

An excellent broker will:

1.     Bring you up to speed on the market.
2.     Determine your wants & needs.
3.     Present homes that meet your criteria
4.     Connect you and assist with other necessary professionals.
5.     Negotiate the best deal for you on the property you select.
6.     Review all paperwork for accuracy.
7.     Keep you informed throughout and navigate you through items of concern.
8.    Be a resource after closing for your questions.

Have your agent connect you to finance professionals with whom they have a successful track record.  The lender plays an important role and will coordinate with you and your broker throughout for a smooth process.  Your financial professional will:

1.     Assess your current financials.
2.     Review the different loan products that will work for you.
3.     Help you determine a purchase price you can afford (not necessarily the most you qualify for).
4.     Will procure the best rate and terms for you.
5.     Inform you throughout the process.

Now you’re ready to begin your home search.  With so many different homes and all the information out there this process can seem overwhelming.  Your Pacifico Properties Broker will help you find homes that meet your criteria, but here are a few questions you want to ask yourself:

1.     How much space do you and you family need?
2.     Is location or size more important?
3.     What amenities do you need?
4.     Are you open to a home that needs work?
5.     Do you want an established, new or up and coming neighborhood?
6.     How far are you willing to commute?
7.     What items are not negotiable?

As you get out and begin looking you will find that some of these items may change (and that’s normal).

When you find the right home, you then have to determine price.  A home is an investment, so you want to make sure that you’re paying an appropriate amount for the home you’ve chosen.  This is where your Pacifico Properties Broker can provide information on other homes in the neighborhood.  Listen to what your broker tells you and together you can agree on a number.  Items to consider when picking your target purchase price:

1. The List Price – What is the listed price?  This provides a base and an idea of what the home is worth
2.  Market Analysis – Your broker can provide information on comparable property sales in the neighborhood so you can see if the list price is appropriate.
3. Upgrades/Improvements – Your broker can point out the items that could alter the price of the subject home and after compensating for these, you and your broker will have a good idea of that home’s value.

Your Pacifico Properties Broker will help you see the benefits and potential drawbacks within your home and will connect you with industry professionals like home and pest inspectors. In this way, you can have a good idea of what you’re getting into before purchase.  Determining what things have or have not been done to your home is valuable information for you as a buyer. Updates can increase your home’s value but deferred maintenance & damaged items can cost you. The main area to concern yourself with is the possibility of structural issues.  If items come up, your broker will help you determine whether you want to negotiate or accept the home “as-is”.

Now that you’ve picked a home, agreed on price and conducted your due diligence there’s one step left – closing.  Use these tips to make sure you don’t unknowingly put your sale in jeopardy:

1. Be careful with your credit and finances – Do NOT make any large purchases during this time. It’s paramount to maintain consistent finances throughout the buying process. Talk to your CPA and loan officer for direction.
2. Stay in touch with your Pacifico Properties Broker & your loan officer – this is important!  Make sure you return phone calls and complete paperwork promptly to avoid delays.  Finally, don’t hesitate to ask questions, this is why you have professionals on your side.

Coming soon!