Wednesday, April 16, 2014

Can't find my dream home! Is your broker helping? GET OUT OF THE WAY!

Often I see buyer brokers who can't find their clients a new dream home, and when I inquire as to what they are looking for, their search is so narrow it's no wonder!

I hate to say it, but sometimes we really get in the way of what our clients' goals are. Let me explain.

A buyer will tell us specifically what they want - size, bedrooms, function, features....and then they tell us the price. It's often impossible. I said one day "Let's put a palm tree in the front yard and it might even become more difficult!" I was being facetious.

First, start by telling your broker what the features are that you require, do not put in an area or price. Give your broker the square footage, the number of bedrooms, the features....and then let's take a look at those results. If you see a pattern in the price results, you might be on to something. Is everything above your wished for price range?

Do you see a pattern in the locations, too? Some locations will give you the price point you need, and you and your broker might be getting in the way of WHERE you can buy a home like you need....let's search 'outside the box'

We as professionals sometimes go into the property search with pre-conceived ideas of where YOU need to live and may not take into consideration where you CAN live.

If you don't need an A+ school district, then don't live in one! If you don't need a high demand area, then don't pick a house in one! Sometimes our smaller, outlying communities are a great opportunity to find hot pockets of little gems that you will fall in love with IF your broker shows you those areas.

Keep in mind that you may be buying in an area that doesn't have a huge resale opportunity, but if you go into a property search with eyes wide open and your PROPERTY SEARCH WIDE OPEN, you may find the perfect home!

So, next time you are searching, don't search ZIP CODES OR NEIGHBORHOODS first, search by FEATURES and see what you find!

Want to sit down and go over all areas and see what your search results are? Contact me today!

Monday, April 14, 2014

How Buyers Can Irk Sellers

How Buyers Can Irk Sellers

I loved this article about how good behavior, or bad, can affect your real estate purchase!

1)  Keep your kids quiet, show up on time, don't rearrange the furniture and stay out of the bathroom.  The stories I have heard and experienced.....I had one colleague who had a family attend a showing (vacant house) and someone apparently used the bathroom and the water had been turned off.  She spent the next hour borrowing buckets of water from the neighbors in order to flush the toilets...that's all I'm going to say about that one.

2)  Don't remind the sellers how much you don't like the house, in the offer.   Yes, giving them a list of defects and problems doesn't exactly paint the picture of you being a willing buyer.  Submitting a 'love letter' for the house is much better!  In fact, a love letter can cushion the pain of a lower offer if you can explain, in plain language, why you really love the house (despite the defects).  Let the offering price speak for itself.

3)  Don't keep going back for visit after visit after you have the offer accepted.  And for heaven's sake do not take your friends to the inspections.  Don't!  I had one set of friends attend an inspection, and the friend thought she was adding to the inspection by turning on and off valves.  Turned into a $300 bill to have the water turned back on by a licensed plumber.  Resist the temptation to interrupt the seller by going back to measure and choose paint colors.

4)  Don't keep renegotiating - so if you think you might be tempted to get one more pound of flesh from the seller, do it up front.  You really will irritate the sleeping dog by going back and asking for this and that...Be sure of yourself going in and confident going to closing.

Buying and selling homes is strenuous!  I'm with you every step of the way, so leave it in the hands of a trained professional and trust their advice.

Remember a Realtor lives and breathes the real estate business every single day - they will be there to guide and advise - the Internet may get you to the house, the trained broker will get you to closing.

If you want to schedule a consultation, find me at REALESTATEINABQ.COM and schedule your own appointment or contact me by phone or email at anytime!

Linda DeVlieg, Associate Broker
10400 Academy NE Suite 100
Albuquerque, New Mexico  87111

Sunday, April 06, 2014

Why you need to be prepared before you go see homes....

There is often much discussion and even more resistance by buyers to be prequalified and ready to write an offer before seeing homes...

Why is it so important?

Many changes have occurred to our contracts and one of them is Paragraph 5a of the Purchase Agreement. This paragraph refers to what MUST be in place before a seller can move forward with your offer.

Buyer agrees to provide Seller with a Pre-Qualification Letter from a lender no later than _____ days after the
Date of Acceptance. Pre-Qualification Letter must stipulate that: (1) a written loan application has been made;
(2) a credit report has been obtained and reviewed by a lender; (3) a preliminary loan commitment has been
secured from the same lender; (4) financing equal to the loan amount provided in Paragraph 2(B) of this
agreement is available to complete the transaction as per the Settlement Date stated herein subject to
contingencies provided for in this Agreement and subject to underwriting approval. If Buyer does not obtain
a Pre-Qualification Letter within the timeframe stipulated above, this Agreement will terminate and the
Earnest Money will be refunded to Buyer.

Let's imagine that you have gone out looking at homes, found the perfect one and guess what - someone else thinks it's perfect too! So, you grab a contract and cross your fingers and hope that the seller will accept your offer...and then you get to that paragraph....

"But I haven't talked to anyone yet"...right? A lender cannot produce a document that complies with this paragraph unless they have taken a loan application from you. This process isn't complicated, but it does take time. A good lender takes it seriously - and it may take a day or two to obtain all of the information necessary.

Oh, that other buyer who also saw the house and thinks it's perfect? They get the house because they were ready.

Why do it before?

1) A Realtor is only going to take you seriously if you have taken this step before home shopping.
2) A seller is only going to take you seriously if you have taken this step before writing an offer.

You only need two reasons, so what are you waiting for?

If you would like a FREE COPY of my Buyer's Guide to buying a home, contact me today!

Linda DeVlieg, Associate Broker
Coldwell Banker Legacy


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