WOW, what a year we're having. Homes sales are on the rise, and the Tax Credit has been instrumental in getting more buyers on the market, per National Association of Realtors, http://www.realtor.org/press_room. As a licensed Realtor and member of the board, I follow these stories closely & SO SHOULD YOU! Stay in the know.
If all these things are TRUE, whats up with you??? Still renting??? Throwing money into the Landlords pocket in droves?? I know, buying takes time & planning. Rightfully so, what else is STOPPING you from maximizing on this opportunity and taking advantage of the Tax Credit, plus tax write offs for Home Owners??
Bank Owned properties, REOs are FLOODING the market. Here are some quick tips on working with REOS:
1. Hire a Licensed Realtor to "walk you through" the process, from start to finish. We're worth our weight in gold. We deal direct with the banks and can write contracts for you and negotiate on your behalf, PLUS show you ALL the homes of interest in your price range.
2. GET PRE-APPROVED. This means that a lender has pulled your credit report & verified income and necessary documents for a final loan approval. Pre-approved buyers take precedence over "unqualified" buyers. You're serious and it shows.
3. After ID'ing a home, WRITE THE OFFER & SUBMIT ASAP. Banks review TONS of OFFERS, You're not the only one "looking for a new home." IT'S REAL. THE COMPETITION IS FIERCE. I've seen multiple offers beat out, by timing. SUBMIT EARLY & INCREASE YOUR CHANCE OF GETTING YOUR NEXT HOME.
4. WORK w/ YOUR CHOSEN REALTOR. Nothing hurts the transaction and sours a relationship more than a "CONFUSED BUYER," or a "RAMBLER." After completing your needs analysis, it should be CLEAR what your needs are, whats negotiable, location, etc. Getting this done upfront, SAVES TIME, and SHOWS APPRECIATION & UNDERSTANDING for your Realtor's time and commitment to SERVICING YOUR NEEDS.
5. Upon offer acceptance by the seller, WATCH THE CLOCK & perform all duties per your contract: schedule inspections, final walk-through, get loan commitment, schedule settlement, etc. Your Realtor can help along the way.
These quick tips could work for any transaction. TEAMWORK MAKES THE DREAM WORK. Remember, at Keller Williams we specialize in "WIN-WIN" deals. Happy House hunting. Thanks for tuning in to my blog.