Licensed Associate Broker
2008 Realtor of the Year
Douglas Elliman Real Estate
Matthew and Kim Dâ€™Ercole
Prominent Realty Group, LLC
New Home Buyer Specialists
Cell - 702.501.0973
Website - http://matthewsellslasvegas.las.mlxchange.com
* Be transparent with your agent regarding your situation, your goals, your fears and who is making the decisions.
* Agree with your agent regarding the strategy to be used and the manner in which your relationship will be manged.
After all that,
*the NUMBER ONE mistake of first time buyers is ignoring the reason the have an agent in the first place -- the buyer go rogue. Uncle Ruebarb who has purchased and sold two homes in 37 years has derailed the plan. Be clear with your objectives. Listen to your agent.
Best of Success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
1. Be patient.
2. Be flexibile in terms of areas that will work for you.
3. Make sure you are pre-qualified by a reputable licensed NV bank or mortgage broker.
4. Have all your pre-qual paperwork with you when you meet with a realtor.
5. Work with an experienced realtor.
6. Be prepared to outbid and go over list price.
7. Don't get crazy trying to outbid the previous crazy person.
8. Make sure that you have enough saved up for your downpayment.
9. Try to go with a conventional mortgage if you can.
10. Work on your credit with the bank or mortgage company if your credit has problems.
11. Choose several homes that might work for you.
12. Have your realtor put in many offers.
13. Have documentation you can give your realtor showing your proof of funds.
14. Don't try to micromanage. Let your realtor do his or her work.
15. Above all, DON'T TALK TO YOUR BROTHER IN LAW WHO LIVES IN NJ AND HAS NEVER VISITED LAS VEGAS WHO KNOWS ALL ABOUT REAL ESTATE EVEN THOUGH HE IS A RENTER AND HAS NEVER BOUGHT OR SOLD A HOME.
Realty ONE Group
Seeing a lender is the first thing to do . I like my clients to be underwritten approved, this way when we put an offer in and there are multiple offers they will take you just as serious as a cash buyer. It is better to be underwritten approved to sellers than a pre approval. I can help you with this process also.
Educate yourself on what to expect from a Realtor and you should interview at least 3 of them. Look for designations (CRS) is a very important one, it is equivalent to a masters and only 2% agents hold that designation. How long in the business, how long selling in Vegas, what awards have been won, any past clients you could personally talk to. Once you found a Realtor THEN He/She will help you in picking an Inspector out, usually a Realtor will recommend someone they have been working with for years that they trust and never get any complaints on. I would not inspect any home untill you have an accepted offer on it.It could be a waste of money.
A good Realtor will also educate you on our market and how it works, which is different from anything anyone is use to.
If you do take this advice and interview some agents , I would love to be one you interview. You can email me at Rhondasellsvegas@gmail.com .
Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.
Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.
Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.
Put together your Team of real estate professionals and shop 'til you drop!
*If you thought my answer was helpful, please give me a â€œThumbs Upâ€ or â€œBest Answer.â€ Thanks!
1. Save your money, you'll need it after you close. The biggest surprise to most new homeowners is the actual cost of owning a home. Things will wear out, break unexpectedly, and need to be replaced often. You'll also realize you need things you never planned for, or thought you would need. If you are moving into a larger home than the one you came from, your new utility bills may be a little bit of a shock to you as well.
2. As far as seeing 100 homes, this might be good advice for an investor who is laser focused on the bottom line, and makes a living flipping properties for rent or sale - but for the other 99.9% of the population who has a lease ending in 2 months, children, a new school year starting soon, etc. etc. - that advice is a bit unrealistic. Most often, buyers who are searching for that "perfect" property at a once in a lifetime deal - are going to miss out on a "great" deal. At the end of the process, the house these people end up with is often something they have to "settle for" because of time constraints, or exhaustion.
I work with my clients as long as it takes, and will do whatever it takes to get a great deal. You have to also however understand that the "perfect" home is an oxymoron.
Hope that helps!
If you want to hear about the possible softening of the market then read this link: http://goo.gl/RJvvl
With that being said, if you find a property that you want to purchase, it is important that you write up a clean, strong offer. Here are some tips to getting you offer(s) Accepted: http://goo.gl/1605G
If you would like my team and I to represent you in purchasing your next home please send us what type of home you are looking for by filling out our Buyer's Form. If you need Sell your home please fill out our Seller's Form.
We hope this is informative and we thank you for your business!
David Cooper foreclosure specialist
For an online course please go to Http://hopehomefoundation.org scroll to the bottom of the page and click on the Framework online course . There is a fee and it is a HUD approved online course . I like this because you can take it at your leisure , go back and look at chapters , and download budgets and worksheets . Let us know if we can help .
1. Do your research about the home:
Know as much about the home as you can before you put an offer on it.Conduct a thorugh inspection. This will cost you some money, but could end up saving you a lot more if the inspector uncovers any problems.
2. Do your research about the seller
The best way to know how low a seller is willing to go during price negotiations is to understand why they are selling the house. For example, if they already have a new home, this could be to your advantage. After all, they don't want to pay two mortgages at once, so they'll likely be more willing to negotiate with you in order to get rid of their old house. Or, if they've recently lost their job, been through a divorce, or experienced some other unforeseen personal situation, they may be more willing to negotiate than someone who is just looking to downsize.
Best of luck to you and happy house hunting.
Home buyers can be split up into two groups, first-timers and owners. I fall into the former category, and as I begin the search for my first home I keep getting lots of great advice and horror stories from friends and family. The personal, realistic situations and advice that I am receiving outweighs any generic information that I'm reading in books, online or from real estate agents.
Firstof all you should be sure of this situation as :
- Figure out where you want to live.
- Find out what you can afford.
- What is your credit score.
- Before seriously looking, get pre-approved for a loan.
- Find a realtor or broker near you.
- Browse homes for sale.
- Secure funding, make an offer and seal the deal.
I hope you get the point.
As an investor, I want the best house for the lowest price, and the more houses I see in person, the more opportunity I have to find out who is truly motivated.
David Cooper Investor
And having just survived the real estate crash, the buyers who got took it upon themselves to do their own research and made their own decisions had a better chance of not losing their home.
To Original poster, my best piece of advice is to select 2 or 3 agents and interview them. Ask them what designations they have. how easy they are to reach by phone, how long would you have to wait for reply's etc.....So many (but not all) agents today lack in people skills , some never return calls , on and on. choose carefully and in today's market be strong and patient, we do so much work with the banks and they are so slow . With the market mostly being foreclosures and short sales, you need patience (we dont get answers quickly). Please feel free to email me anytime with questions. Id be happy to help and I would love to be interviewed by you.You should also get pre qualified so that you are ready to place an offer as soon as you feel that you found your home. Rhondasellsvegas@gmail.com
David Cooper Real Estate Coach-Investor
Contact me at http://www.lasvegaswinner.org
Listen to the words Myra writes,
I may have this printed on a 3x5 card for the Buyer to carry. I will laminate it and refer to the words often.
I particularly like #15.
Your Realtor is the key to success. Select a Realtor you can trust and will listen to. The buying and selling of property has become very complex. Select a Realtor with a vast base of knowledge and experience in the properties you are looking at.
Just because an licensee is a member of the National Association of Realtors, it does not mean that they are knowledgeable about every type of product. There are single family, condos, multifamily, investment, commercial, land, and high rise properties. Many properties have restrictions from the color of the paint to use, to parking in your own driveway. Look for education and the ability to relate to your needs for the type of property you want.
As a Buyer, I suggest you look for a Realtor that has an ABR credential. The Accredited Buyers Representative credential means that the Realtor has formal education to work with Buyers and getting your offer(s) accepted.
If you have a special interest such as Ham radio, raising cats, or boating, look for a Realtor that has a similar interest. They can assist you in looking for property that meets your needs because they will know what you are needing for a comfortable property.
Remember to challenge your Realtor. Let them work for their pay. They deserve to be paid, they also have a responsibility to assist you in showing what you want.
You have one basic job in all of this action. You need to select a Realtor that you feel comfortable with and can relate to.
If you start working with multiple Realtors, it is like having multiple girlfriends. You will not receive quality time with anyone of them. A Realtor deserves payment for assisting you. You need to provide the information and time to allow the assistance in locating your new home.
All Realtors have access to the same information. All Realtors have computers, networks, cars, pens, pencils, and lock box keys. The hard part is choosing a Realtor that can use the resources to locate a property that you want and is not just on the market.
When your Realtor becomes unbelievable, it may be time to move to another. If you think you made a mistake, please tell the Realtor that you are unhappy. Like any relationship, you and the Realtor have to work for a successful relationship. If you and the Realtor can fix a relationship issue, it will be easier than starting over with a new Realtor that has to learn about your needs. If it is a market issue, they will be able to explain the problem and work towards a solution.
Remember to have fun picking out your new home. It should feel like you are looking at tuxedos and a wedding dress for your wedding.
Please contact me immediately if you know a person that cannot make their mortgage payments. I will work with them to avoid foreclosure or bankruptcy at no charge or fees to them.
Steven Goldman, CRS
Certified Distressed Property Expert (CDPE)
Certified Default Advocate (CDAT)
Certified Short Sale Professional (CSP)
Certified Probate Real Estate Specialist (CPRES)
GRI, ABR, SRES, CNHS, PM, CCI
Realty One Group
10750 W. Charleston #180
Las Vegas, NV 89135
I estimate that 30% of the so called â€œpreapproval lettersâ€ in my market area are not worth the paper they are printed on. Realtors â€“ just watch the stats, see how many listings go to pending then back to active and youâ€™ll see I am right.
The buyers are not taking it seriously enough - canâ€™t take off a couple of hours to meet face-to-face with a loan officer and review every document???? How much do they earn per hour?
Iâ€™ll bet they donâ€™t earn as much per hour as they will waste on inspections, appraisals, etc.
NMLS # 6395
Financing Kentucky One Home at a Time
I already have gotten pre-approved for 200,000. I have a agent also. Just want to see what mistakes veteren realtors/homebuyers have seen first time home buyers make, and piece of advice to help through the process. Thank you!
Get pre-approved for your loan (unless you're paying all cash) - so you know what properties you should look at for purchase. And, hire a Realtor to assist you - unless you know all the Real Estate laws in your state. The seller usually pays all the commission - for both the listing agent and the selling agent (buyer's agent).