NUMBER 1...get pre-approved before you begin shopping. This will let you know what price tag you should be shopping for but also proves to any seller that you are ready, willing and able to purchase a home. I rarely submit an offer to a seller without submitting a letter from my buyer's lender....most sellers are reluctant to accept any offer without one.
2. Know what your budget is. Just because you are approved for $300K doesn't mean you should purchase that much house. You need to know how much mortgage payment your budget will allow for with a little extra to eat out now and then.
3. Make a strong offer. Your Realtor can help you with this. If bringing less money to the closing table is most important to you then perhaps you shouldn't slice the home's price tag too much and ask the seller to pay more of your closing costs....perhaps the closing date is more important to the seller so give there to get somewhere else.
4. Be or have a good negotiator to help you. There are many moving pieces to an offer... price, close date, closing costs, home warranty, repairs, option period....it never hurts to know what is important to each party and negotiate the terms to be a good fit for buyer and seller.
5. Be ready to buy....many Realtors have sad stories about the perfect house that got away because someone took too long to think it over.
For more information or a free San Antonio Home search go to www.HollyGHomes.com.
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