Quick Buys, Best Value: Your Guide to Purchasing Smartly.

Before crafting an offer to purchase, it’s essential to have at least a pre-approval from a lender. The clients I represent go a step further – they secure approval directly from the underwriter. While most lenders avoid this, as an M.L.O. (Mortgage loan Originator) I believe in doing the groundwork early. The underwriter’s approval positions you almost on par with a cash buyer, a significant advantage in negotiations for me.

Such approval is a powerful tool for any buyer. It signals the seller that you have the financial means to finalize the purchase. We can draft the offer once you’ve zeroed in on the perfect home.
Purchasing a home involves understanding its history and potential issues. Sellers are legally bound to disclose significant defects in California. However, these disclosures may provide a partial picture.

To gain a deeper understanding, consider asking these six vital questions before finalizing your decision, I will help you do the due diligence: please feel free to Email your concerns!

Why is the seller selling the house?

This question may help you evaluate the “real value” of the property. Is there something about the house the seller does not like? If so, you may be able to adjust the purchase offer accordingly.

How much did the seller pay for the home?

This question can sometimes help the buyer negotiate a better deal- maybe even get the seller to carry part of the loan. However, it is important to remember that the purchase price is influenced by several factors, like the current market value and any improvements the seller may have made to the home. The original purchase price might not have anything to do with the house’s current value.

What does the seller like most and least about the property?

By asking the seller what he or she likes most and least about the property, you might get some interesting information. In a few cases, what a seller likes the most about a home might actually be something the buyer is looking to avoid. For example, if the seller describes his house as being in a “happening community,” the buyer might consider this a negative factor because the area may be too noisy or busy for his or her taste.

Has the seller had any problems with the home in the past?

It is also a good idea to ask the seller if he or she has had any problems with the home while living there. Has the seller had problems with a leakage from the upstairs bedroom in the past? If so, even if the leak has been corrected, the floor and walls around the bathroom might have been damaged. You should also check that these items were repaired properly.

Are there any nuisances or problem neighbors?

Use this answer to find out about any noisy neighbors, barking dogs, heavy airplane traffic or even planned changes to the community, such as a planned street widening. This may give you insight on why the seller is really moving.

How are the public schools in the area?

Because the value of a community is usually greatly influenced by the public schools in the area, finding out the buyer’s perception can give you some insight about the quality of the area’s schools.

Knowing all you can about a prospective home helps you decide if it’s the home of your dreams and what offer to make. As your real estate professional, I can help you get your key questions answered and let you know how to evaluate your findings. I am only a phone call away at 949-748-9834.

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Did You Know?

First-time homebuyers can often qualify for special mortgage programs and down payment assistance. Ask me how!