Buyer Tips for a Successful Real Estate Transaction by Lipply Real Estate
Fantastic! You've made the decision to buy a home in Tampa Bay. As you probably already know, home ownership is one of the biggest and most important investments you will make -- for the present and for the future. Real Estate is a reliable way to invest your money. A growing majority of Americans aren't stopping with owning just one home -- they are acquiring additional properties for investment purposes. Along with tax benefits, investment properties offer the possibility of earned income from rental revenues. Listed below are some buying tips from Bob Lipply, a seasoned real estate broker and a longtime homeowner in the Tampa Bay Area.
Contact me about buying a home:
Find out your buying power... A very important
first step is to contact a lender and get pre-qualified. This is essential
information to the buyer to have so they have a good financial fit for the
home market. When you have decided on a lender, you begin the loan process
by filling out a loan application. You should be prepared to go over your
current financial situation and credit history with the loan officer. A
good mortgage broker can give you an estimate of what it's going to take
to get you into a home and a good estimate of what your monthly expenses
will be.
Limit your spending and watch your credit during the buying period...
Don't take on any additional debt while in the process of buying a home.
Mortgage lenders use debt to income ratios for the approval process and
even so much as a new car can throw things off a bit, even if you know you
can afford it. Have patience and wait until you sign your name at the closing
before making any additional major purchases. Additionally, if you are thinking
about changing jobs try to hold off on that too. Be diligent about paying
your bills on time also. Credit scoring frameworks are complex and often
vary among creditors and for different types of credit.
Choose an experienced Tampa Bay real estate agent to work with...
Working with a licensed, full time, real estate agent is worth it's weight
in gold. Trying to search for a home yourself will leave you exhausted and
frustrated. While searching the internet is a good pastime for looking at
homes, so much of the information is outdated and the homes are already
sold or under contract. The Lipply Real Estate Group has a team of full
time, experienced real estate agents who know the market and keep on top
of new listings each day. Our website's home finder is
a direct link to the MLS and is always up-to-date. It's free and easy to
use.
Learn the area, decide on where you want to live -- do your own
research...
The Tampa Bay area is large and diverse. The internet is a good source for
information regarding the area. Try to narrow down which county most appeals
to you. Whether it's Pinellas County with it's close proximity to the beaches,
or Hillsborough County which is closer to downtown Tampa and the airport,
or Pasco County where you can stretch out a little more -- only you know
where you will be most happy. Research, explore and learn, ask questions,
drive around. Choose what most suits your needs and begin your focus there.
For starters you can visit our community area pages:
Pinellas County Real Estate
Belleair Homes | Clearwater
Real Estate | Clearwater Beach Condos
| Dunedin Homes | Indian
Shores Condominiums | Indian Rocks Beach
Homes | Largo Real Estate | Oldsmar
Real Estate | Madeira Beach Real Estate
| Ozona Real state | Palm
Harbor Real Estate | South Pasadena Condos
| Pinellas Park Real Estate | Safety
Harbor Real Estate | Seminole Real Estate
| St. Petersburg Real Estate | St.
Petersburg Beach Real Estate | Tarpon Springs
Real Estate Treasure
Island Real Estate
Pasco County Real
Estate
Trinity Real Estate | New
Port Richey | Holiday Real Estate | Land
O' Lakes Real Estate | Wesley Chapel Homes
| Hudson Real Estate | Odessa
Real Estate | Port Richey Homes | Lutz
Homes
Hillsborough County Real
Estate
Tampa Real Estate | South
Tampa Real Estate | North Tampa
Real Estate | Brandon Real Estate | Riverview
Real Estate | Valrico Homes
Make a list of new home priorities in order of importance...
Take the time to carefully think over the most important "must haves"
in a new home. Limit yourself to no more than 5 absolutes. Try to be realistic
in your home search. If money were no option we would all live in the perfect
home. Money is an option most times and we as your real estate agents know
that and will work hard to find you a great home in your price range. You
may need to compromise a little but in the end, we want you to be thrilled
with your new home. We are going to do everything we can to that end.
Communicate your wants and needs to your Tampa Bay real estate agent...
Let's sit down and go over your priorities. Be honest and open about what
you are looking for and make sure that we understand. No one wants to waste
anyone's time in the home search venture. Listening is an important part
of our job. It is very important that we understand your criteria. Be clear
about what areas are important to you and where you are willing to compromise.
Listen to and take the advice of your Tampa Bay real estate agent
and mortgage broker...
Our job is to help you make the best decision and keep the process moving
along without problems or stress. Buying a home is a major transaction,
there's lots to do and coordinate. You may have bought one or two homes
in your past, but real estate agents and mortgage brokers do this every
day. We can help you with every aspect of the project. When we advise you
about what you can to do make the transaction work, we are acting as part
coach and part business consultant.
Don't rule out an outdated or messy home...
Real estate in the Tampa Bay area is quickly appreciating and the prices
are higher than they have ever been. A really nicely decorated, clean as
a whistle home, is going to be priced at top market dollar. If that's most
important to you then certainly go for it but if you can see through the
ugly paint color or the dirty carpet, you may be able to get a great deal.
Be flexible with your schedule for home viewing...
Nice homes sell quickly, sometime within the first days of going on the
market. As your real estate agent, it is our responsibility to be on top
of the market and when the home that meets your criteria comes on the market,
we need to get you to see it fast. We realize that our buyers are people
with jobs, families, and other commitments. Agents with the Lipply Real
Estate group work full time and have morning, afternoon, evening, and weekend
appointments available at all times. Keep track of the homes you are viewing
on our Home Buyer Checklist
-- this will help you keep your thoughts organized.
Know what you want -- be ready to make an offer...
At this point in the process you will be well educated about the home availability,
the price ranges, the attractive neighborhoods, the schools, your priority
list -- you are just waiting for that perfect home to make an offer on.
Resist the urge to hesitate because if you love the home, chances are other
buyers will love it to. Time is of the essence. The last thing we want our
buyers to get involved in is a bidding war. If we can get our offer in ahead
of the others, we should have an edge on the competition.
Be flexible in negotiations...
If you love the home, give a fair offer, consistent with the times, free
from outside contingencies if possible. Don't play games. We are
expert negotiators. Before we put an offer in, we will do the research of
the current conditions as well as the comparables in that particular area.
We suggest getting a home inspection...
For under $400.00 in most cases, you can have a comprehensive inspection
done on your home. This is good advice and I wouldn't buy a home without
this. Many contracts are written with "right to inspect" and should
there be something discovered during the inspection process, a buyer is
entitled to walk away from the contract without losing his deposit in most
cases.
Attend to the mortgage loan process in a timely manner...
Time is of the essence during this timeframe. Sometimes the lenders require
additional paperwork, letters from employers, etc. Promptly provide any
and all information to the lender to ensure the process moves along without
delay. Have a record of all of your current bank accounts, including the
name and addresses of banks, type of accounts, and approximate balances.
Be prepared to provide details about outstanding loans or credit accounts,
such as student or car loans and major credit card accounts. You will also
need information about your assets, such as car titles, stocks and bonds,
and life insurance policies.
Shop for and choose the property insurance...
We can recommend insurance companies and coverage but the ultimate decision
and choice is yours. Shopping for and deciding on exactly what you require
is important and not to be put off. Do this once you are satisfied with
the home inspection and are ready to move forward.
Enjoy your new Tampa Bay home...
Don't forget to call the utility companies and have the power, gas, and
water turned on prior to your move in date. Congratulations on your new
home -- Tampa Bay Florida Real Estate. We wish you many
years of happiness in it!
