Tips for Better Home Buying

When you’re buying a new home, you have an endless array or questions to go along with the anxiety and the stress and worries about the unknown. So calm down and we’ll give you a few tips that will help you determine what you need to do, what you let the professionals do and how else you can make buying a home for sale a little smoother and more pleasant.

Buying a New Home a Real Estate Adventure

Whether you have bought many homes or you’re a first-time home buyer, completing a real estate transaction successfully and to your satisfaction should be your goal. Although all real estate transactions are unique, there is an established protocol that you should be aware of which can help make your new home purchase proceed quickly and smoothly.

Home Buyer’s Responsibilities

What are the home buyer’s responsibilities?

• Communicate thoroughly and definitively with the buyer’s agent to help the agent identify the right neighborhoods, home styles and particular amenities needed and desired
• Once a new home is targeted, take an active role in investigating and inspecting the property, asking questions
• Verify verbal statements in writing
• Carefully review the seller’s disclosures to identify potential problems or areas of concern
• Hire a professional home inspector, attend the inspection and carefully review the inspector’s report and overall recommendations
• Arrange for financing and prepare accordingly
• Be aware of all contractual obligations

Home Buyer’s Agent Duties

Home buyers should expect professionalism from their real estate agents. Agents should:

• Always be prompt, courteous and available (at least by phone), especially when conveying information related to the transaction
• Find properties that meet the home buyer’s needs
• Answer all questions the buyer has or refer the buyer to someone who can provide an answer
• Act as the buyer’s representative with the seller and submit all offers and counteroffers
• Prepare the purchase contract according to the buyer’s instructions and explain all of the steps and fees involved in the transaction process

Due Diligence

Home buyers can also perform some legwork that will help them gain confidence that they have selected the best home for sale.

• Communicate in detail with your agent so he steers you to the best home for you
• We said it above, but we repeat: Verify any claims made by the seller or his agent
• Scan the neighborhood and check for variances in property uses
• Hire a professional home inspector, who should check all physical and mechanical systems as well as for mold, termites, etc.
• Conduct a final walk through to verify that everything is in place as it should be and that any repairs have been completed satisfactorily

Gathering Information

Depending on your needs, your plans for the property or what’s important to you, you may wish to go a step further and obtain more information about the home or neighborhood:

• Real estate resale history of nearby properties
• Local school, health care information
• Availability and response times of police, fire and emergency services
• Crime statistics
• Distance from commercial, industrial and agricultural industries
• Commuting distance to stores and shopping centers
• Adequacy of nearby transportation options
• Proposals for future nearby development
• Zoning and flood plain restrictions
• Proximity to parks and cultural institutions
• Deed restrictions, conditions, covenants, etc.
• Information regarding homeowners associations, assessments, etc.
• Condition of common areas and facilities(if association)

Your real estate agent can be a valuable resource in helping you gather information. If the agent can’t directly assist you, he can often direct you to someone who can.

Avoiding Surprises

Finally, there are two things a home buyer can do to protect himself from potential problems after the transaction is complete:

• Get a home inspection: The seller and his real estate agent may not know of existing property defects. A professional home inspection enables the buyer to determine the condition of the property — including any hidden problems — before the completion of the transaction and affords and opportunity to negotiate possible solutions to any problems.
• Get a home warranty: Buyers should consider the benefits of obtaining a home warranty to protect against the failure or malfunction of key home systems in the first year after the transaction.

Buying a new home can be a pleasant and successful experience if you follow these tips.

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