Palm Beach County Real Estate - Buying - Selling - Renting

Top 5 Tips For Buyers

1. Get Pre-Approved For Financing
When a home seller receives an offer to purchase there are two primary factors that are always considered immediately - How much is the offer; and, does the buyer really have the money? After all, a seller has no way to know who you are or how reliable you may be. In every case a seller is more willing to negotiate price and/or other terms if the availability of the money is assured.

When a home buyer makes the effort up front to get pre-approved for financing it does two things - Establishes exactly how much home you can afford; and, puts you in the strongest possible negotiating position with all home sellers. We can put you in touch with qualified lenders.

2. Be Realistic About Needs and Wants
There is no reason that a home search should take more than a week or two in a normal market. But, everyone has heard about someone who looked at dozens of homes over a long period of time. This only happens when the buyer has not come to terms with what they really need, want and can afford to buy.

This website has been created to help you save time and narrow down your search to a short list of homes before you get in a car and go see them. This should help make your home search an enjoyable and productive time, and we understand that your time is the priority!

3. Make the Right Offer
A rule of thumb is that a too low first offer usually results in the buyer either losing the home or ultimately paying more than they should for the home. Why? A low ball offer puts the seller on the defensive, making future negotiations more difficult. An offer that is too high can also send the wrong signal to the seller, especially when the home was just recently put on the market. A too high offer may not only cost the buyer money but could cause the seller to be less agreeable with other terms and conditions.

4. Avoid Midstream Changes
A buyer who plans to get a home loan, should acquire loan pre qualification or even better, a pre approved loan before going out to tour homes with an agent. This pre approval is always subject to financial issues remaining unchanged until closing. Buying a new car, loaning money to a relative, splurging on a vacation, missing a credit card payment, etc., all can be factors that impact the pre approval and jeopardize the buyer's ability to finalize a mortgage loan for the amount desired.

Similarly, a cash buyer who needs to sell stocks, make IRA withdrawals or otherwise move funds around should do so well before closing and preferably before the search process begins. An unexpected delay of days or weeks while a retirement plan administrator processes your withdrawal could make the difference between buying the home you want or watching someone else buy it.

5. Be Pro-Active
This may seem to be a given to most people but it is truly amazing how many home buyers think that all they have to do is sign the contract and everything else will magically occur without their participation. The fact is that there are many details that only the buyer can resolve to assure a timely, trouble free purchase and closing. The Buyer's Agent will counsel and assist throughout the process but the buyer will have the best overall result by being fully aware of all aspects of the process and asking as many questions as possible along the way.

	Palm Beach County Real Estate Presented by: Jamie Arnold & Peter Sokolov - Realtors® Call anytime - (561) 843-9091



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		Top 5 Tips For Buyers 1. Get Pre-Approved For Financing When a home seller receives an offer to purchase there are two primary factors that are always considered immediately - How much is the offer; and, does the buyer really have the money? After all, a seller has no way to know who you are or how reliable you may be. In every case a seller is more willing to negotiate price and/or other terms if the availability of the money is assured. When a home buyer makes the effort up front to get pre-approved for financing it does two things - Establishes exactly how much home you can afford; and, puts you in the strongest possible negotiating position with all home sellers. We can put you in touch with qualified lenders. 2. Be Realistic About Needs and Wants There is no reason that a home search should take more than a week or two in a normal market. But, everyone has heard about someone who looked at dozens of homes over a long period of time. This only happens when the buyer has not come to terms with what they really need, want and can afford to buy. This website has been created to help you save time and narrow down your search to a short list of homes before you get in a car and go see them. This should help make your home search an enjoyable and productive time, and we understand that your time is the priority! 3. Make the Right Offer A rule of thumb is that a too low first offer usually results in the buyer either losing the home or ultimately paying more than they should for the home. Why? A low ball offer puts the seller on the defensive, making future negotiations more difficult. An offer that is too high can also send the wrong signal to the seller, especially when the home was just recently put on the market. A too high offer may not only cost the buyer money but could cause the seller to be less agreeable with other terms and conditions. 4. Avoid Midstream Changes A buyer who plans to get a home loan, should acquire loan pre qualification or even better, a pre approved loan before going out to tour homes with an agent. This pre approval is always subject to financial issues remaining unchanged until closing. Buying a new car, loaning money to a relative, splurging on a vacation, missing a credit card payment, etc., all can be factors that impact the pre approval and jeopardize the buyer's ability to finalize a mortgage loan for the amount desired. Similarly, a cash buyer who needs to sell stocks, make IRA withdrawals or otherwise move funds around should do so well before closing and preferably before the search process begins. An unexpected delay of days or weeks while a retirement plan administrator processes your withdrawal could make the difference between buying the home you want or watching someone else buy it. 5. Be Pro-Active This may seem to be a given to most people but it is truly amazing how many home buyers think that all they have to do is sign the contract and everything else will magically occur without their participation. The fact is that there are many details that only the buyer can resolve to assure a timely, trouble free purchase and closing. The Buyer's Agent will counsel and assist throughout the process but the buyer will have the best overall result by being fully aware of all aspects of the process and asking as many questions as possible along the way.


Call Jamie & Peter anytime - (561) 843-9091 Copyright 2005-2006 Jamie Arnold & Peter Sokolov