Top 5 Things Buyers Should Know by Denise Grove, Lead Buyer Agent – The Weymouth Group
I recently had an in-depth conversation with Denise Grove, Lead Buyer Agent for the Weymouth Group of Keller Williams Select Realtors. One of the most intriguing aspects about Denise are the rave reviews she gets from her clients. Denise secures her business mostly by her personal references from previous and current clients. There rarely is a day that goes by where Denise is getting some gift from Buyers thanking her for her service. In our conversation, I wanted to tap into her expertise, asking her the Top 5 Things Every Buyer Should Know before making an offer on a home. Here is her list:
1) FIRST and FOREMOST! Speak to a loan officer and lender and obtain a pre-approval letter BEFORE you start your home search. It is important to know your Buying Power. Bear in mind: Mistakes happen. There could be a minor issue on your credit record you might not be aware of that could affect your qualifications and interest rate. These issues can easily be fixed with little effort. It’s miserable to fall in love with a home and miss out on the opportunity to own it simply because you were putting the cart before the horse. Also, you may also find that you can afford more than you thought you could! There are also some great First Time Buyer Programs out there for the new buyer such as My1stHomeRebate.com. You should take advantage of these programs as much as you can.
2) Meet with your Rock Star Realtor and prioritize your needs and wants. Your Realtor can help you determine whether it is possible to fit all your dreams within your budget. Remember that there are always trade offs: You could purchase in a neighborhood with good schools and compromise on a smaller home or buy a larger in a district with marginal schools.
3) The Internet is a fabulous source for information on homes and neighborhoods, however; nothing beats visiting in person an area where you want to live. Take some time to drive around an region that you think you might like to live. Visit the shops and schools. Talk to the teachers and principal of the school. You will know if it “feels right”. Visit at different times of the day and on the weekend. If there are people out and about, be bold and chat with them. Ask questions. Most often, you will quickly determine if that neighborhood feels like it could be “home” for you and your family. If you do like that neighborhood, tell your Realtor. He or she has ways focusing on that community for you and locate the home that will match your housing needs. If they don’t know how to do that call me. I will tell you how to do it.
4) There are distressed homes such as short sales and foreclosures (REO) readily available. Talk with your Realtor to understand whether these properties might be a good fit for you and have them explain the purchasing process. You can get some great deals if you are willing invest some time and energy into the distressed home if it needs it. You will need patience and flexibility, as it may take additional efforts to get the bank approvals in order to get to settlement but it will be well worth it. Your Realtor should have the necessary knowledge to get you there. If they don’t, see #3 above and call me.
5) Finally, be prepared to make a fair offer based on the recent comparables for the neighborhood. Your real estate agent can educate you on what current sales prices and trends are for the area as well as pertinent information relative to the home and neighborhood. Some sellers are a bit reluctant to even a counter an offer that they feel might be too low so be careful. Your Realtor is a great person to lean on in situations like this. I have had a few clients that went the “I can do this myself” route. Almost all of them said they would never do that again.
Chris Weymouth, Director, Certified Luxury Home Marketing Specialist, CLHMS and Debbie Luber Weymouth, Manager, have marketed and sold over 4000 homes in Maryland since 1983. Expertly trained and award winning agents, they are leaders for The Weymouth Group at Keller Williams that has been recognized by their peers as one of the best in the business. Chris Weymouth is ranked in the top 1% at Keller Williams Select Realtors, top 1% in Howard County and Maryland among Realtors. Serving Central Maryland and all our friends and family for almost 60 years. Need a Luxury Home Marketing and Buyer Specialist in Howard County (Ellicott City, Woodstock, Clarksville, Marriottsville, Fulton, Laurel, West Friendship, Glenelg, Columbia, Elkridge, Dayton, Mt. Airy, Woodbine and more), Carroll County (Elkridge & Sykesville), Baltimore County (Catonsville, Woodstock, Owings Mills, Pikesville and Reisterstown), Anne Arundel County (Pasadena, Severna Park, Hanover, Severn, Glen Burnie, Annapolis and Odenton), Prince Georges County (Bowie & Laurel), Montgomery County (Silver Spring, Olney, Bethesda and Sandy Spring) or Harford County? We Know This Market! Then call Chris at 443-280-1922 or email [email protected]