The price tag that goes with buying a home is hefty enough to give anyone pause. After the fact, anyone – perhaps especially Portland first-time homebuyers — can come away wondering if they have could have nailed down a better deal. Preventing any such nagging doubt is easy to do: it just takes a little forethought and preparation. Here are a few tips to bear in mind when buying a home.
After you have submitted an offer, be mentally prepared to respond in case a counteroffer follows. Along with the improvement in the Portland market, we’ve seen a rise in sellers’ confidence levels, so it’s best to be ready for some negotiating. Try not to let your emotions intrude — but always know the maximum amount that you are willing and able to spend.
Major athletes have bargaining agents to go to bat for them. Your real estate agent is your bargaining agent whose very presence strengthens your position. Some of the legalities in real estate can seem ambiguous though they actually aren’t, so allowing a professional to do most of the talking is good practice. An inadvertent comment or slight change in the agreement between you and the seller could result in problems securing a mortgage from your lender. Real estate agents are trained to help you through the process of buying a home as smoothly as possible. Especially if you’re a Portland first-time homebuyer, use your agent to the fullest advantage.
Being armed with knowledge can save you thousands. The best way first-time homebuyers can see if an offer is competitive is by scouting the most recent prices paid for comparable properties. The second part of being prepared is to be sure that a proper appraisal is conducted. Smaller details are easy to brush off in the excitement of buying your first home — but having done all your homework beforehand is the way to make first-time homebuyers know they’ve struck a great bargain.
Whether you’re a seasoned seller or one of those first-time homebuyers in Portland, I’m here to help make sure you stay on top of your game. Call us! 503-389-0686