It's a Seller's Market and the good homes are going fast with multiple offers. Many times I walk in to a home and immediately point out to my buyer issues that may want to make them pass and move on to the next home. Your Realtor can help you navigate the territory of what homes to make offers on and what to offer.
If you're not working with a Realtor, I suggest you get one right away. With interest rates the lowest ever and prices on the climb, NOW is the time to buy! The FIRST and foremost step in purchasing a home is to get with a Realtor. Check with friends and family to see if they can refer someone to you or research sites, such as this one to find a good professional Realtor. Your SECOND step is to get pre-qualified for a loan. AFTER you find a Realtor, he or she will have you meet with the lender that he or she uses regularly. This is important. Please let me know if I can help or if you have any more questions.
Keller Williams Realty
The advice that will not work in the Inland Empire economy is inspecting before offering and basing your price on the worst-case scenario. You would become a full-time house-seeker instead of a home-owner.
We are in a strong sellers market with the average home getting 5-10 offers or more in the first week on the market. We have the lowest inventory of homes in the last 5 years. Most homes are selling for over the asking price. A good, local realtor will be able to guide you into finding a home that is likely in great condition and refer you to a skilled home inspector that can quickly and competentely advise you whether it is wise to continue your purchase, renegotiate the price, or withdraw the offer to reclaim your earnest money deposit.
Short Sales and foreclosures can provide a wonderful opportunity for buyers to get a very good deal but you need to work with a realtor who is experienced in these transactions and you need to listen to their advice and do exactly as they say. If you do, you'll be fine.
All properties are sold as is.
Harold Sharpe - Broker
So Cal Homes Realty
California Department of Real Estate Broker License # 01312992
You always, always, always, want to have a property inspection completed on whatever home you buy. The California Purchase Contract has a contingency clause built into it for properly inspections. If you get one one done and are unahppy with the condition, you have a certain period of time (usually 17 days) where you can cancel the deal and get your deposit back.
When possible, we would recommend taking a friend that has a working appreciation for the various home systems and how they operate. They will be able to help you with formulating a basic appreciation for the condition of the property that may assist you moving forward or eliminating this possibility.
But the most important factor you have is the ability to conduct various inspections in an effort to identify those things that may need to be addressed before buying a property. Be sure that the wording of any purchase offer protects your right to withdraw from the agreement without penalty should excessive repairs be required.
Hope this is helpful.
Prudential Ca. Realty