How to find a home for sale...
Once you have decided what type of home you are looking for, the next step is find it. There are two ways to find a home, either searching on your own or hiring a real estate agent.
Many people mistakenly believe that a real estate agent will charge a fee to help locate a home. However, in nearly all situations, the buyer does not pay the agent a dime. At closing, your buyer's agent is paid by the seller.
In general, 6% commission is paid out by the seller, when they list their home with a real estate agent. This is paid out whether or not the buyer has an agent. If you have a buyer's agent, 3% goes to the buyers agent, and 3% goes to the seller's agent. If the buyer does not have an agent, the seller's agent gets the entire 6%. It is to your benefit to get your own agent, who can represent your best interests. Find an agent now.
Most real estate agents will want you to have a pre-approval letter, before they begin to show you homes. Get your pre-approval letter.
In case you are looking to do it yourself, here are a few tips that will certainly help:
1. Research, Research and more Research
The best medium for research is the Internet! The best way to find out what you should expect for your money is to surf real estate sites and see what is available in your price range. Shortlist all the houses that meet most of your requirements.
| ●Searching for properties over the net is easier than searching the newspaper. On the internet, you can key in your personal search criteria and don’t have to be bothered with the vast number of listings that aren’t for you. Internet real estate sites offer customized search options that allow you to zero in on your key requirements. |
Local newspapers would be a good source if you are looking to buy a house in the same locality. Sunday newspapers generally have a number of good listings.
2. Make appointments to look at the houses you've selected
Make sure that you visit each house. Call the owner well in advance and set up an appointment.
| ● Carry a camera with you and take plenty of photos of the house, including all rooms, bathrooms, and closets. |
| ● Compare all the features in the house against your needs and budget. |
| ● Don't make hasty decisions. Remember, this is one of the biggest investments of your life. |
| ● Visit the house with your spouse and children. Ask them for their opinion. Make a decision collectively. |
3. Attend seminars
There are many homebuyer seminars conducted frequently. These are generally advertised in local newspapers. Seminars might be helpful and give you further insights into buying a new home.
Next: How to Get the Real Estate Agent that will help you get your dream home and assist you along the way.