What are the “Don’ts” in the Home Purchase Process”

ADDED ON May 10, 2014 10 COMMENTS

What are the “don’ts” in the Home Purchase Process?

Buying a home is a very serious and delicate process that requires all attention and collaboration from the buyer. Here are several recommendations we offer to facilitate the transaction:
  • A buyer must do prior research to selecting the right real estate agent. This research should be based on references, years of experience, knowledge and honesty.
  • Choose an agent that inspires you trust and loyalty above all its services. Do not contact other agents and do not request them to email you houses or send offers. This causes delay in response to offers.
  • Do not pay any money in advance for real estate services. The represented buyer is free of charge, whereas the seller pays for the services of both agents.
  • Do not sign any document during the process of your research. If you do not speak English, seek the assistance of a family member or a friend. If you do sign a document of payment of commission agreement, you will be required to work with a particular agent for some time and might even have to pay fees whether you purchase the home or not.
  • Do not listen to any advice from friends or neighbors, they do not have experience or are licensed to give you any sort of advice on how or when to purchase. Ask questions directly to the expert who has studied and has experience in the industry and he or she will give you the best answer to their knowledge.
  • Also do not forget to request your lender the Good Faith Deed after receiving your pre-qualification letter. This shows your financial expenses, title, interest rate, and final amount to bring to closing. Remember that financing costs can not change only the interest rate can fluctuate daily.
  • Once in contract and during the process, do not contact the agent representing the seller. The information in this case is very delicate and only your agent knows how to represent your best interests.
  • Do not make any big purchases during the purchase process or prior to closing the transaction. For example, furniture, household items, decoration, etc. You may do this after receiving your keys!
Always trust your real estate and keep in constant communication. And of course, if you have any questions in the financial field, please do not hesitate to contactus. We also encourage you doing your homework and research in advance. Being informed will help you to avoid inconveniences and take intelligent decisions. Find the right loan officer and real-estate agent that will allow fulfilling the American Dream. We are here to help you get the required counseling that is needed. Please contact us so we can get you started on the right path of owning a home. Our contact number is 702-858-8070 or email athomesinvegasnow@gmail.com

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10 Responses to “What are the “Don’ts” in the Home Purchase Process””

  1. May 31, 2014 at 2:41 am, Chen said:

    HOW CAN I DETERMINE MY HOUSING NEEDS BEFORE I BEGIN THE SEARCH?

    Reply

    • May 31, 2014 at 2:43 am, veronicasuarez said:

      You have to determine your needs and wants. Your wants might not be realistic in comparison to your needs, e.g. pool, big lot size, corner lot, etc. Most of the time your needs (minimum of bedrooms, bathrooms, square footage) will match with you purchase price. You need to research the area where you want to live and check crime rate, schools, amenities, etc. You have to know if you want to live in a common interest community where you will have to abide to its covenants, conditions and restrictions and pay an extra fee per month.

      Reply

  2. May 31, 2014 at 2:41 am, Maya said:

    How can I find a realtor?

    Reply

    • May 31, 2014 at 2:44 am, veronicasuarez said:

      Ask your friends, co-workers for referrals. Check the internet and find interview several Real Estate Agents over the phone and choose the one you feel most comfortable with. Remember that all Realtors offer the same inventory of houses. The key to choose an Agent is the type of service (promptitude, knowledge, trust) that you expect and deserve to receive. For a free consultation, call us at 702-858-8070. We’ll be glad to answer all your questions.

      Reply

  3. May 31, 2014 at 2:41 am, Melissa said:

    HOW CAN I FIND OUT HOW MUCH HOMES ARE SELLING FOR IN CERTAIN COMMUNITIES AND NEIGHBORHOODS?

    Reply

    • May 31, 2014 at 2:44 am, veronicasuarez said:

      In today’s market, all properties are available via different websites and portals. Nevertheless, the information is not accurate because you’ll find properties that are already in contract or even sold which represents a waste of your time and energy. Once that you know the amount for which you have been pre-approved to buy a house, then ask your Realtor to send you a list of the houses that match your criteria and in your price range. These will be the ones you have to concentrate on.

      Reply

  4. May 31, 2014 at 2:42 am, Jess said:

    What other tax issues should I take into consideration?

    Reply

    • May 31, 2014 at 2:44 am, veronicasuarez said:

      Besides of the property taxes, you need to know if your property is located in a master plan community or has Special Improvements Distric and Limited Improvement Distric Fee SID’s & LID’s. Said fees are additional to your property tax payment and are charged usually every three months or twice per year. If you don’t want additional taxes, ask your Realtor to concentrate in different areas

      Reply

  5. May 31, 2014 at 2:42 am, Hellyo said:

    How do I know what is the right price to submit an offer?

    Reply

    • May 31, 2014 at 2:44 am, veronicasuarez said:

      Great question!! Ask your Realtor to prepare a comparative market analysis CMA of the house you are interested in. The listing price not always reflects the actual fair market value of the house. It might be overpriced or lowpriced. The CMA will allow you to send a competitive offer to get the house you want to purchase. Contact us for a complementary market analysis now http://www.homesinvegasnow.com/ or send us an e-mail to homesinvegasnow@gmail.com

      Reply

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