Five Tips from a Veteran Homebuyer

by Isaac Benmergui, Esq on August 7, 2017

five tipsSometimes, you just have to learn the hard way. But not always. A great way to educate yourself on the home buying process is to actually talk to someone who has bought a home before. Daniel Kline, a former editor of The Boston Globe’s business desk, has done it a time or two. Or eight. And he has some valuable advice to share that applies even in a seller’s market.

  1. Do your own pre-inspection at the showing. By the time you get to the inspection phase of the home buying process, you’re pretty well committed. So that’s a terrible time to find out that a home has issues. To save yourself time, flush toilets and run faucets during the showing. Listen for weird noises that could be an indication of trouble. Keep an eye out also for cracks in the walls or floors, and water rings or stains.
  2. Trust the appraisal. Likewise, it’s really hard to get to the appraisal and have the mortgage company come up with a low number. But if that happens, it means the bank thinks you’re about to pay too much. So even if you have the cash to make up the difference, think long and hard before you offer.
  3. Always do the inspection. In a hot market, some sellers can get away with offering their homes “as-is,” meaning they will not be making any repairs. So no inspection needed. Right? Wrong. “Even when buying an ‘as is’ property, make sure you have the right to break the deal if an inspection — which you should insist on — turns up a problem you don’t want to deal with,” says Klein. “That could cause the seller to reject your offer, but if that’s the case, you’re dodging a bullet. It’s important to know what you’re buying, and an inspection is the only way to do that.”
  4. It doesn’t hurt to ask. Especially in a hot market, you may feel like you can’t ask for an appliance that wasn’t included, an item to be fixed (if the sale isn’t as-is) or an extra like a home warranty. But you can always ask. Asking won’t result in the deal being terminated. The other party will simply respond yes or no and you can decide how to proceed.
  5. Think about resale. Even if you only need a two-bedroom house, think about the fact that they are harder to sell than three-bedroom homes. Maybe a condo would be a better buy if two bedrooms is all the space you need. This is also true with a home that has a quirky layout or would only appeal to really specific tastes. Before you buy, consider if the home can be made more neutral when you get ready to sell, or if other perks, like location, features or lots size, outweigh the quirkiness.

Call Miami Real Estate Lawyer Isaac Benmergui at 305.397.8547 and set up a no charge, no obligation consultation to discuss your case. We have over a decade of experience handling Real Estate and Civil Litigation cases throughout Miami and South Florida, and will use our expertise to help your case to the best of our abilities.

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