5 Secrets to Buying the Best House for Your Money

Written by Madan "Raja" Ahluwalia

5 Secrets to Buyingrepparttar Best House for Your Money

1. Get "Pre-Approved" - Not "Pre-Qualified!"

Do you want to getrepparttar 136012 best property you can forrepparttar 136013 least amount of money? Then make sure you are inrepparttar 136014 strongest negotiating position possible. Price is only one element inrepparttar 136015 negotiations, and not necessarilyrepparttar 136016 most important one. Often other terms, such asrepparttar 136017 strength ofrepparttar 136018 buyer orrepparttar 136019 length of escrow, are critical to a seller. In years past, I always recommended that buyers get "pre-qualified" by a lender. This means that you spend a few minutes onrepparttar 136020 phone with a lender who asks you a few questions. Based onrepparttar 136021 answers,repparttar 136022 lender pronounces you "pre-qualified" and issues a certificate that you can show to a seller. Sellers are aware that such certificates are WORTHLESS, and here's why! None ofrepparttar 136023 information has been verified!

Many times unknown problems can come torepparttar 136024 surface! Some ofrepparttar 136025 problems I've seen include recorded judgments, alimony payments due, glitches onrepparttar 136026 credit report due to any number of reasons both accurately and inaccurately, down payments that have not been inrepparttar 136027 clients' bank account long enough, etc.

Sorepparttar 136028 way to makerepparttar 136029 strongest offer today is to get "pre-approved". This happens AFTER all information has been checked and verified. You are actually APPROVED forrepparttar 136030 loan andrepparttar 136031 only loose end isrepparttar 136032 appraisal onrepparttar 136033 property. This process takes anywhere from a few days to a few weeks depending on your situation. It's VERY POWERFUL and a weapon I recommend all my clients have in their negotiating arsenal.

2. Sell Your Property First, Then Buyrepparttar 136034 House

If you have a house to sell, sell it before selecting a house to buy! Contingency sales aren't nearly as strong as one that comes in with a ready, willing and able buyer. Consider this scenario: You've foundrepparttar 136035 perfect house - now you have to go make an offer torepparttar 136036 seller. You wantrepparttar 136037 seller to reducerepparttar 136038 price and wait until you sell your house. The seller figures that this is a risky deal, since he might pass up a buyer who DOESN'T have to sell a house while he's waiting for you. So he says OK, he'll dorepparttar 136039 contingency but it has to be a full price offer! You have now paid more forrepparttar 136040 house than you could have because ofrepparttar 136041 contingency, and you have to sell your existing house in a hurry! Otherwise you loserepparttar 136042 house! So to sell quickly you might take an offer that's lower than if you had more time. The bottom line is that buying before selling might cost you THOUSANDS of dollars.

If you're concerned that there is not a house onrepparttar 136043 market for you, then go on a window-shopping trip. You can identify possible houses and locations without falling in love with a specific house. If you feel confident after that then put your house onrepparttar 136044 market.

Another tactic is to makerepparttar 136045 sale "subject to seller finding suitable housing". Adding this phrase torepparttar 136046 listing means that WHEN YOU DO FIND A BUYER, you will have some time to findrepparttar 136047 new place. If you don't find anything to your liking, you don't have to sell your present home.

7 Selling Mistakes You Don't Want To Make!

Written by Madan "Raja" Ahluwalia

7 Selling Mistakes You Don't Want To Make!

Mistake #1 -- Pricing Your Property Too High

Every seller obviously wants to getrepparttar most money for his or her product. Ironically,repparttar 136011 best way to do this is NOT to list your product at an excessively high price! A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price.

Mistake #2 -- Mistaking Re-finance Appraisals forrepparttar 136012 Market Value

Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often, lenders estimaterepparttar 136013 value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your REALTORŪ forrepparttar 136014 most recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value.

Mistake #3 -- Forgetting to "Showcase Your Home"

In spite of how frequently this mistake is addressed and how simple it is to avoid, its prevalence is still widespread. When attempting to sell your home to prospective buyers, do not forget to make your home look as pleasant as possible. Make necessary repairs. Clean. Make sure everything functions and looks presentable. A poorly kept home in need of repairs will surely lowerrepparttar 136015 selling price of your property and will even turn away some buyers.

Mistake #4 -- Trying to "Hard Sell" While Showing

Buying a house is always an emotional and difficult decision. As a result, you should try to allow prospective buyers to comfortably examine your property. Don't try haggling or forcefully selling. Instead, be friendly and hospitable. A good idea would be to point out any subtle amenities and be receptive to questions.

Mistake #5 -- Trying to Sell to "Looky-Loos"

A prospective buyer who shows interest because of a "for sale" sign he saw may not really be interested in your property. Often buyers who do not come through a REALTORŪ are a good 6-9 months away from buying, and they are more interested in seeing what is out there than in actually making a purchase. They may still have to sell their house, or may not be able to afford a house yet. They may still even be unsure as to whether or not they want to relocate.

Your REALTORŪ should be able to distinguish realistic potential buyers from mere lookers. REALTORŪs should usually find out a prospective buyer's savings, credit rating, and purchasing power in general. If your REALTORŪ fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing towardsrepparttar 136016 wrong people. If you have to do this work yourself, consider finding a new REALTORŪ.

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