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    Buyer Tips for First-Time & Seasoned Buyers

    Home Buyer Tips for First Time and Seasoned Buyers
    Buying a home, either for the first time of the fifth, can be a complicated process. But with these tips, you can find the home of your dreams in the Chapel Hill area.

    1. Be a Pre-Approved Buyer
    A pre-approved buyer always has the advantage in an offer situation. Becoming pre-approved is very easy: you complete your loan application with a credit check prior to beginning your home search process. Pre-approval means that you have actually been approved for the purchase by a lender, which gives you the edge in home purchase negotiating.

    2. Beat The Competition to The Best New Listings
    The search process can be both fun and trying. You will notice that some homes sell very fast and others hang around for long periods of time. The best homes at the best prices sell fast. Keeping on top of this is essential. Connect with a professional Real Estate agent that knows the market and keeps you updated.

    3. Do The Research
    Make yourself a “home value expert.” Investigate the areas and price ranges for the kind of home you are looking for. Get a good idea of the price ranges these homes sell for and how long the market time is for them. Your agent is a great asset here.

    4. Have Your Offer Presented in Person
    Your agent represents you and your best interests. To adequately do this, make sure that your home offer is presented by them directly to the seller. The personal touch will give you the edge. Your agent also might pick up critical information during this meeting.

    5. Prove That You Are a Serious Buyer
    The best way to accomplish this is with strong earnest money. This might mean that you put 5% or more down to get the sellers attention.

    6. Don’t Go Crazy
    Even in a hot market, be cool and calculated with your decisions. A knowledgeable agent can really help you here. Your home purchase may be your single largest investment. It is important to make sure that you get the best deal possible. Overpaying now will make it harder to get your value back when you sell.

    7. Keep Your Offer Simple and Clean
    Make sure that your contract to purchase is simple, clean and not bogged down with unnecessary contingencies, especially repairs. Keep the time frames of repairs and responses to a minimum. The cleaner your offer, the more interested the seller will become. This may help you purchase the property at the best price.

    8. Don’t Wing It Alone
    What you need most in today’s complex marketplace is an experienced and professional real estate agent who represents your interests only. No matter how heated the competition or the negotiations, a professional agent will represent your best interests, keep you from paying too much and help you maximize your investment.

    Financing Your First Home – Dos and Don’ts
    It’s a good idea to start on this list before starting your home search!

    DO –

    • Continue paying down credit card debt and other bills.
    • Get Pre-Qualified to learn how much mortgage you can afford.
    • Start saving for your down payment and closing costs if you have not begun this.
    • Keep all accounts current, including mortgage, car loans, and credit cards. Contact both your lender & Masha anytime a question comes up BEFORE you act on it!
    • Make all payments on or before due dates even if your loan is being paid off with your new loan.
    • Have any lender required funds to your lender’s office within 72 hours after your home inspection so that they can order your appraisal and keep the loan process moving on time.
    • Return any phone calls or emails from your lender, Masha, closing attorney, or anyone else involved in your purchase within 3 hours to avoid delays in closing.
    • Call Masha, your lender, your closing attorney if you have a question about something that is not on this list.


    • Do not change or quit your job. If this happens, notify your lender immediately.
    • Allow anyone to make an inquiry on your credit report except your lender.
    • Change bank accounts or transfer money within your existing account.
    • Charge abnormal amounts to your credit cards.
    • Open new credit cards.
    • Co-sign for anything
    • Purchase or attempt to purchase anything else on credit like a new or another vehicle, truck, boat, furniture, jewelry, or other real estate.
    • Apply for credit anywhere except with your lender. This can REALLY damage your credit score and lower your rating.
    • Send in late payments or incur late fees or miss payments on ANYTHING.

    Are you looking for an agent to represent you and your best interests? You, the home buyer, pay nothing for a professional agent. Their fees are paid for by the seller. Click here to contact us today and find out how we can help you find the most house for the best price.

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