Sometimes buyers need to purchase a home immediately. Whether it's a job transfer to a new area or your current home sold faster than expected. If you don't have the luxury of time, consider these tips when purchasing your next home.
1. Get Pre-approved. Pre-approval (not just pre-qualification) will save you so much time and stress down the road. Work with your lender as soon as you know you will be purchasing a home and get the process started. Not only will this give you a firm amount that you're qualified for, it also helps the lending process along a bit.
2. Choose a Realtor You Trust. Whether you find an agent based off of referrals from friends or you scour the Internet for the agent in your area with the best reviews, choose someone that has experience and that you feel has your best interest at heart.
3. Know What You Want. If you need to move in a hurry, don't come with a long list expecting to check off your wish list. Stick with the basics and anything that is a requirement. Need a single story? Make it clear to your agent that 2-story homes are off-limits. Do you have to have a large yard? Make sure your agent knows the minimum lot size.
4. Make a Strong Offer. Now is not the time for low-ball offers. Work closely with your Realtor to make a solid offer that will likely be accepted. Good deals are still available, especially if you are willing to...
5. Waive Contingencies. Contingencies allow buyers to walk away from a home sale with their deposit. The most common are the loan contingency and inspection contingencies. Waiving contingencies can be tricky, so work closely with your Realtor during this process.
6. Get Your Paperwork in Order. When you are pre-approved, your lender should give you a list of additional documents you'll need for the lending process. Have that paperwork organized and ready to send to your lender. If you have a quick close, make sure your paperwork is ready to go, it will make your (and your lender's) life much easier.
Are you planning to purchase a home in the Reno, NV area? Sallan Real Estate has been assisting homeowners and home buyers buy and sell real estate in Northern Nevada for for more than 15 years. For more information on the real estate in Reno, NV, check out the market conditions or contact us here.