Crown Ridge Properties

Find the right home

Finding the right home can be challenging and exciting at the same time. The first thing to know before looking at any listings is to know the neighborhood that you wish to own a home. Don’t let the house determine where you live. Let your current situation be the determining factor. If you have kids, then maybe you want to be closer to a school that your kids will do well at. If you are single, then maybe a place close to work or in the city would be great. Either way, determine your neighborhood first, then find a house.

Financing

Unless you have cash to purchase a house, you are going to need financing. Have a down payment and find a lender to work with. We can recommend some that we have had good success with for our buyers in the past. So feel free to ask if you need help.

There are lots of different types of loans. The type of loan that you get, will determine how much is going to be required for you to put down. The average amount is 3.5% on up to 20%. Interest rates will vary as well, and also, going directly to a bank is not the same as working with a mortgage broker. Many banks have great promotions for lending but you will be subject to that one Bank’s acceptance or denial. While a mortgage broker can work with up to 200 banks and investors and may have different options. Ultimately, you will have to decide which option is best for you

You need an agent

Agents sell houses all the time. This makes them experienced. Trying to buy a home without someone who has the current experience of the market we face today, could end up costing you a big fortune later. We here at Crown Ridge pride ourselves in helping our clients and consider them to be our top priority. If we see a problem with a sale, then don’t be surprised if we disclose this information to you. It is never our intention to hurry you into a house that may not be right. We have been working with some of our clients for years before they finally decide. Whether it takes you 1 week to decide on a house or 2 years, we will be here for you every step of the way.

With that said, also understand that Agents work on commission and for this very reason, it only makes sense to use their time for showings when you are closer and ready to buy. We offer listings on our website for free, as well as don’t charge for showings too. But it would not be worth your time or the agents to look at houses 6 months before you may qualify for the loan. Not only are you gaining trust from us, but we have to gain confidence in you as a legitimate buyer as well.

The average buyer will walk-thru at least 5-10 houses total before putting in an offer on one. Looking at 50, 60, 70 houses or more will only burn you out and allow the agent to begin to question if you are really serious about buying a home now or not. Our online search makes it easy for you to look at as many houses online as you desire, so that when it’s time to decide on which ones you want to schedule a showing for, then you will be well on your way to making the right choice on a house that works for you.

Make an offer

After finally deciding on the house that you like, the it will be time to make the offer. Before writing an offer, have your checkbook ready. Most offers require at least $1000.00 dollars Earnest Money Deposit (EMD) to even submit the paperwork.

You will also want to have your financing in order before making an offer. If you’re a cash buyer, then you should have proof of funds ready. And if you are financing through a lender, have your prequalification or preapproval letter ready with your EMD.

Negotiate the offer…sometimes. This is where working with an agent will really pay off because the listing price can almost always be negotiated. But you may be surprised to know that it is not always negotiated lower. Sometimes it will make sense to ask for a lower asking price, but not in every case. When really good deal comes up, you probably will not be the only interested potential buyer interested in that house. The expertise of the agent can help you with determining if it makes sense to offer more than asking price on a house in an effort to beat out the other interested buyers so that your offer will be “highest and best”.

Do a Home Inspection

Would you move your kids into a new home that had a flooded basement and was partially repaired to cover up the mold that is still behind the walls? We don’t think you would, and this is why it is important to get a home inspection on any house that you have an accepted offer on. The small fee that home inspectors charge is nothing compared to the health of you and your family.

But not all concerns are a health hazard. Sometimes it can be another issue that the seller either was not aware of or tried to hide and repairable damage can usually be renegoiated and lower your final buying price. It may also be necessary to have a reduced buying price in some situations when repair is needed in order for the house to appraise for your final buying price. The last thing you would ever want is to not be able to get a loan because the house is worth less than what you have an offer in for.

Have money to move

This is often overlooked, but it takes a little bit of money to move if just across town, but may be quite a bit more if coming in from another State. So remember to set aside enough extra money to get moved, and perhaps buy a few necessities for your new place.

Are you ready?

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