Suddenly it begins. After all the anticipation of finding your Marin dream house, your agent calls and you’re off to see the first property that may be “it”. You’re excited, but are you really prepared to recognize the best deal when you see it? Too many buyers look at the wrong things, in the wrong way and end up paying more than necessary. As a buyer, you must look at things differently than a casual observer.
Here are five ways to get ready before you go:
1. Are you ready if the first one is the best one?
There’s not a magic number of properties to see before you find one you like. If your agent has been listening, the first one may be it. Can you make an offer if you love it? Have you been pre-approved for financing? Have you got all the advice you need from friends and family, or made arrangements with them to come immediately when you find “the one?” Measure your large items so you’ll know what will fit while you walk through. Unnecessary delay may put you in a bidding battle.
2. Viewing a property does not mean staring at it.
Watch television’s real estate programs and you’ll see real estate agents enter the room first while buyers hover in the doorway peeking in. Go completely into the room. Move around, so you see it from every corner, doorway and vantage point. Study the space so that your eye travels around the room following the walls, not the cleverly-staged furnishings. Make thorough observations first, then photograph key positive and negative features. Go through twice, but reverse the direction, so you have a different view of everything. Take as long as possible to get to know a property since you may not be back until the day you move in.
3. No property is an island.
Drive and/or walk the block and neighborhood to see what positives & negatives exist. Which noise sources, including parks & schools, and which pollution sources may impact the property? Check area official plans for upcoming construction and municipal use plans. If you’re purchasing a view, determine exactly what protects the view from future construction?
4. Establish automatic pre-offer follow up with your agent.
Make it clear that you need details regarding costs including utility bills, property taxes, inspections, repairs, escrow fees, etc. Have the agent ask about an existing mortgage or seller financing, which may be less expensive.
5. Take a reality check.
This is bricks and mortar you’re after. There will be compromises and disappointments however much you love the property. If the house has been made-over or staged, a multitude of unpleasant realities may be waiting below a coat of paint. Get excited about ownership, but stick to your budget.
