Polk, ABR, CRS|
Austin area real estate,
over 30 years done properly
Preparedness means being ready emotionally and financially to buy.
EMOTIONAL PREPAREDNESS: Buying a home is not like buying stocks and bonds. A house has personality. For years I've observed buyers getting excited about a house that really is perfect for them, but they do not make an offer because it's among the first they've seen. They are not emotionally prepared because they have not done their homework. Literally.
As a buyer, you must know the market well enough to feel good about your decision. This involves looking at neighborhoods and houses, so that when the right one comes up, you know it.
FINANCIAL PREPAREDNESS: You must have your financing in order. Obtain a lender letter, which is a written statement from a reputable mortgage provider. Use it to give your home seller confidence that you've already arranged financing. Unless you are paying all cash, looking for a house without a lender letter is as ineffective as fishing without bait. Also, your earnest money and down payment must be liquid.
SYSTEMATIC SEARCHES: Get ahead by searching MLS listed properties on the internet. Click here for such a search tool. Sorting through online ads and driving neighborhoods can put you way ahead of the game. But you will almost assuredly miss the properties in most demand because you will discover them at least 24 hours later than when they first show up on the Multiple Listing Service (MLS); on the MLS, they are instantly available to agents who are working with their buyers. Make no mistake these buyers are your competition, and they have professional help.
It is a fact that the average full-time real estate professional is more effective at finding property than a home buyer who is employed full time in another profession. A good agent is so much more effective, not only in finding the right property, but also in helping you interpret the myriad of facts and opinions that confront you. A good agent also helps you negotiate the best terms. An exceptional agent provides you exceptional service, service that merits your continued referrals.
VIGILANCE: There is no substitute for keeping your eyes open. Check around, ask friends, look at ads. Your agent should welcome such helpful interaction. Be aware that even with professional assistance, opportunities can slip through your fingers. Human beings and technology are not perfect, so be prepared to handle it emotionally when the good one gets away. Instead of letting it cripple you, look positively toward the next opportunity. I've seen buyers feel so burned when losing a house to another buyer, that they wouldn't even make the time to go see the better buy that came up the next day. Of course, that house was sold to someone else immediately. So chin up!
Call Tom: 512-327-9310 x 234
Stanberry & Associates has operated as a real estate brokerage firm licensed in the State of Texas since 1985.
Tom Polk is a
real estate broker licensed in the State
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