It's no surprise that buying a home can be one of the most stress-provoking events one can experience. There's a lot on the table financially when you buy a home. The outcome of this transaction can affect your net worth, as well as your sense wellbeing.
Many aspects and factors involved in buying a home are beyond your control, and thats a fact. Interest rates could change unexpectedly, an inspector might uncover a defect that changes everything. But, there are steps you can take to maximize your chances for a successful real estate deal, and minimize potential bad outcomes.
First, work with the right professionals to help you accomplish your goal. If you don't already have a real estate agent, mortgage broker that you've worked with successfully before, ask friends and associates for recommendations. Take the time to interview each referral carefully to make sure that there's a good fit. If you have any doubts about a candidate, continue the search until you find qualified professionals with whom you have good rapport.
A mistake home buyers sometimes make is to underestimate the time it takes to get the job done. Minimize additional work while you're in the midst of a home purchase. Limit overall stress.
HOUSE HUNTING TIP: One of the keys to ensuring that your real estate purchase will have a good outcome is to make the commitment to stay involved in the process every step of the way. Even though you hire professionals to assist you, they aren't the decision-makers. You are. Problems arise if you relinquish control and let your real estate agent or mortgage person make important decisions for you.
Let your agent know that you expect to be kept informed of developments as they arise. The sooner you know about a problem, or potential problem, the sooner you can work to or assist in resolving it.
Be forthright in asking for an explanation of a facet of the transaction, that you don't understand. If you don't buy and sell real estate on a regular basis, you shouldn't expect yourself to know the ins and outs of the business.
Read and understand every document before you sign it. Make sure you receive copies of everything you sign. Retain these documents, even after the transaction closes. In the instance of a problem during or after the transaction, this documentation could prove invaluable in proving your case.
Keep a transaction log. Many times you will receive this from your Realtor. Use it. Or, this can be something as simple as a notepad on which you record important transaction-related conversations. Keep the log with your other transaction documentation in case you need to substantiate who said what later and when.
Be polite and gracious, but let your real estate team know what you expect from them. This should include periodic written or verbal updates. If you're not receiving the service you need, bring this to the attention of your real estate professionals. Don't expect the people working for you to be able to read your mind. Speak up whenever you feel it necessary.
Nothing in life is without problems. Problems of some sort will arise during the course of your home purchase. How you work through the problems has everything to do with the parties involved and how well you communicate with one another. Try to develop trust and confidence in one another. Do not get into adversarial postures with your real estate team; neither permit them to bully you or ignore your concerns. Expect and give patience during the transaction.