Searching for a Home That You Can Afford and Wouldn't Have a Problem Putting Into Action

#RealEstateTips #PropertyInvestment #DreamHome #FirstTimeHomeBuyer 

First of all, you have to be prepared to do the work that real estate agents and lenders are not willing or unable to do for you. 

For example, you need to have, at a minimum, $7500 for a payment-safe lender pre-qualification letter and probably more. You need to have a solid job history, preferably in construction or manufacturing. You need to know what you're looking for. You don't want to buy something that you don't really want or need. And if you plan on living in the house or condo for at least 3 years, you'll need at least $15,000 for a deposit and closing costs, and often more. The lender is willing to do this for you, but it isn't easy or cheap.

After you've been pre-approved by a lender and know what you want, it's time to make an offer. But first, find a house that meets all your criteria, and that's within your budget. A realtor can help you find that perfect house that fits your lifestyle. Be reasonable and ready about your offer.

If you're serious about the house, you have to put aside the need to be nice. No matter how nice the seller, they aren't going to be that willing to reduce their price just because you're not willing to be nice. But if you think this house is overpriced and you can get a good deal elsewhere, don't worry. The house is yours. 

The seller will realize this when you go out to view the houses in your local real estate market. And if you do decide to do a little negotiating with the seller, you'll need to be prepared. When you put the offer together, make sure that it fits within the range of the house's asking price. And be prepared to explain to the seller that you won't accept the house unless they fix or replace the few issues that need to be repaired or replaced. 

It's best not even to be nice because the seller may not want to deal with an impatient buyer. Some sellers will even take care of some of the repairs and have the house ready for viewing because they believe it's not worth the hassle to them. But, if you can find a home with less than perfect issues, you have the advantage because it may be a deal-breaker for them.

Many sellers will make repairs and have the house ready to make an offer for the house if you're willing to lower the asking price. It's usually better to do this with a home that's significantly less than the asking price. This will put you at a lower risk because you do not promise the seller you'll fix it up and make it look nice if you buy it. It's a better option so they'll be more inclined to accept your offer.

There's always a chance that the seller may ask you to make small repairs to the house. Some sellers will ask you to put in a new roof or the siding on the house, replace the bathroom tile or cabinets or the floorboards or change the paint color. When considering a home to buy, consider what the seller wants from you. Is this a serious offer or a game of make-believe?

The bottom line is that a seller is not likely to lower their asking price to make a better deal. If they accepted an offer, they don't really have to go through the hassle of selling the property.

There's really no sense in wasting time, your money, and their time when you can get a home to your liking without investing a thing.

I hope you found this article helpful? As you continue your quest for wealth and financial security, the investment strategies laid out in Think Like a Tycoon by Dr. W.G. Hill is the resource you should seriously consider. 

Think Like A Tycoon by W.G. Hill

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