We start by breaking down the buying process into manageable steps. We outline a plan based on your goals, and provide a series of checklists so you always know where we are in the process and what comes next. We focus on the things we can control, and work with the pieces that are already in place.
Buying a house involves the same series of variables as selling, however looked at from a different point of view. The view of a buyer. The equation below is an illustration of those variables and how each added together equals the end result. Not all variables are created equal, and some we will have more control over than others. We cannot change the real estate market, but we are aware of it. We understand the competitiveness of it and address it accordingly. We cannot change the condition of a property (until you own it), but we will ask questions; review disclosures; and have a home inspection. We also cannot change the asking price of the house, however, we do have a good understanding of the market, and what other similar size, and condition houses have sold for. Therefore, we can make an educated decision, and provide comparisons supporting our decision. What we absolutely have control over is the offer you make on a house. Understanding the house you are buying, what makes for a good location and knowing which strategy to use when crafting an offer are the variables that will make the difference in not only purchasing a home, but making a solid investment.
LOCATION + MARKET + CONDITION + COMPETITIVE POSITION + TERMS = PURCHASE OF YOUR HOUSE
WHAT IT MEANS
Location: Is it a safe neighborhood? Are you in a good school district? Are you a short distance from popular places, restaurants and shops? Is it convenient for commuting?
Condition: Almost every house has a defect. Some will be obvious to you, and the vast majority will be fixable, but it’s best to know before you buy. Not only will that help with negotiating a price, but it can also prepare you for any necessary repair costs that may arise.
Offer & Terms: Do you have a strong pre-approval with a reputable lender? Are you familiar with other sales in the area? Do you know what an escalating clause is? Do you understand the “true” reason for a home inspection? Do you know the importance of a bank appraisal? These are just a few pieces that go into making a strong offer.