It is a great time to buy a home, but todays Real Estate Market is tough. I work with alot of first time home buyers that are looking to purchase foreclosed homes in the Oakland County area. What they soon discover is that the competition is fierce. In many instances they end up in bidding wars to try and get the home they fell in love with. Houses that are listed for one price are selling for more than the list price because so many people are bidding on the same home. As a buyer what can you do to try and give yourself the edge in getting a signed agreement on the property you really want.
The most important thing you can do is choose an agent that is skilled in the foreclosure process, someone who is well versed in bank forms and procedures, someone that can help you make the best decisions. My website offers some great tips, http://www.lonnywilson.com/. Secondly and nearly as important you need to be prepared. You prepare by either educating yourself of having the agent you choose to represent your interests educate you on what to expect throughout the process. The better prepared you are before you ever make an offer the greater chance you have given yourself to successfully get that home. Part of the preperations involves your financing, will you be getting a mortgage or paying cash. Depending on which can make a big difference in how your agent will structure your offer as well as the price you are offering. The type of mortgage you will need is a must when it comes to preperation, also the amount of time it will take to close on the home can all effect the way you structure your contract. Look at the listings that your agent sends you EVERYDAY and get into see new desireable listings as soon as they hit the market. It can all impact whether or not you get a signed purchase agreement back from the bank. I tell all my clients, look at as many houses as you need to see in order to feel comfortable with the market and to find the home you want, but when you see the house you want you need to be ready to make an offer immediately. A delay in today’s market can mean the difference between you getting that home, or someone else getting that home. If you have put in the effort up front and you know what to expect, then the process of buying a home today can still be an enjoyable and informative experience. Remember, you don’t know what you don’t know, the only way you will learn is to ask questions. Good luck and feel free to check out my free oakland county foreclosure lists at http://www.lonnywilson.com/
The most important thing you can do is choose an agent that is skilled in the foreclosure process, someone who is well versed in bank forms and procedures, someone that can help you make the best decisions. My website offers some great tips, http://www.lonnywilson.com/. Secondly and nearly as important you need to be prepared. You prepare by either educating yourself of having the agent you choose to represent your interests educate you on what to expect throughout the process. The better prepared you are before you ever make an offer the greater chance you have given yourself to successfully get that home. Part of the preperations involves your financing, will you be getting a mortgage or paying cash. Depending on which can make a big difference in how your agent will structure your offer as well as the price you are offering. The type of mortgage you will need is a must when it comes to preperation, also the amount of time it will take to close on the home can all effect the way you structure your contract. Look at the listings that your agent sends you EVERYDAY and get into see new desireable listings as soon as they hit the market. It can all impact whether or not you get a signed purchase agreement back from the bank. I tell all my clients, look at as many houses as you need to see in order to feel comfortable with the market and to find the home you want, but when you see the house you want you need to be ready to make an offer immediately. A delay in today’s market can mean the difference between you getting that home, or someone else getting that home. If you have put in the effort up front and you know what to expect, then the process of buying a home today can still be an enjoyable and informative experience. Remember, you don’t know what you don’t know, the only way you will learn is to ask questions. Good luck and feel free to check out my free oakland county foreclosure lists at http://www.lonnywilson.com/
