3 Things You Need To Know As A First Time Buyer
Buying a house for the first time can be a daunting task. The fear and anticipation mixed with the excitement of living the American dream can be too overwhelming at times. Therefore, we have prepared a list of three things that you may need or want to know as a first time buyer.
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Think Ahead
Don’t just think immediate ownership and rush your ownership decision. Buying a house is a challenge and one of the most serious financial commitments that one can make during their lifetime. Your current standing in life may have allowed you to live as a single bachelor/bachelorette at a pad (studio apartment) but that may clash with any long term goals.
You may like starting a family and raising your kids or even changing your current job. It is always better to plan long term, before you make a final decision of owning that “dream house.”
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More Commitment And Contracts
When you buy that house you had been eyeing for “quite some time” just know that there are budgetary constraints and contractual agreements that need to be signed. Most of the contracts that you sign may appear to be “normal” on the surface and seem like you can’t negotiate on their terms.
This couldn’t be farther from the truth. These contracts need to be negotiated. In the end, you’re ultimately the one who’s signing on the dotted line. So it will be you who will end up with a hot potato if something goes wrong afterwards.
There are some changes you can make to the standard contract purchase agreements (after taking your time to review them). These include making the purchase subject to a clause of getting your mortgage approved or not having radon testing done.
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Get Professionals To Help You Out
Speaking of contracts and negotiations, you should have a trusted realtor by your side for negotiating on your behalf. Real estate agents get a cut of the sales price as paid by the seller. This little detail might be off putting for many buyers as they might refuse to get professional help from trusted realtors.
The listing agent represents the seller and will just pocket their cut from both sides so it helps to have someone that you can count on to get you the most out of your deal. So contact Loyal Partner Homes, LLC for trusted realtors.