FIND A GREAT REAL ESTATE AGENT

Take notice that the title of this section is "Find a Great Real Estate Agent" and not Find a Good... or Find a Reliable Real Estate Agent. The reason is finding a great agent will make a tremendous difference in your whole buying process. A Real Estate Agent will become your spokesperson when it comes time to make a offer and negotiate the deal to closing so you really need to having someone you can trust who has your best interest at heart.
Some quality's that make up a great agent are:

*... one who will listen to what you you say you are looking for and stay on track to help you find the best match.

*... one who will take an offer to the table for you with an open mind because you never know how motivated the seller may be.

*... one who stay in touch even when nothing is happening. This offer you reassurances that you haven been forgotten about and keeps open the lines of communication.

*... one that doesn't make you fell like you are wasting their time by asking to visit, re-visit, and re re-visit the same listing that you may be interested in placing an offer on.

*... one that will listen to your needs. This is such an important quality that it's worth mentioning twice.

*... one that not only doesn't mind you helping in the researching of new listings but also encourages it.

*... one that will be able to adept to your reasonable request for looking at new listings without making you fell like you are wasting their time.

*... one who is organized can make your viewing of listings a much more enjoyable process.

*... one how is patient when looking for your dream home. A great agent knows that sooner or later a deal will surface and if your time table permits you shouldn't rush the sale it will come with patients.

Finding a great agent is not easy . You can ask friends, relatives, and colleagues if they know of a great agent they have used in the past. You should also ask the agent for references from previous clients. Just remember that you may have thought you found a great agent only to find they are not living up to your expectations. if this happens you may need to be strong and ...let them go. You need to remind yourself that this could be the single greatest purchase of your life and if you loose confidence in the agent do you really want them representing you at the bargaining table?

TAKE LOTS OF NOTES

Note taking seems obvious. It were so then why do so many people not do this? Yes each house you look at offer a feature sheet of some sort but it is just that a feature sheet. This feature sheet isn't going to mention the stain on the bedroom carpet or that the window in the upstairs bedroom is cracked and doesn't open properly.

Before you go out looking at listings you need to make sure much like your agent, that you are prepared. you may want to come up with some sort of rating system and make notes on each property you see and assign a point value so that at the end of the day you aren't asking yourself what house was it that you looked at that need to have the deck replaced.?

Note taking is a simple step that is often over looked and if done can save you allot of time and money in the end.

MAKE A OFFER

This can be one of the most exciting steps in the home buying process. This is where having a "great" agent can be very beneficial. You may want to draw from their experience ask for their advice or thoughts, especially if this is your first home purchase.
The drawing up of the offer to purchase is fairly straight forward but it s the little things that can be missed that can cause you the biggest grief so make sure you take your time and go over the contract a few times. Unless you are lucky enough to be paying cash for your home you may want to include the clause subject to financing . Also another staple in the home buyers contract is subject to home inspection (see our section on this step).
Never, never assume that something is going to be part of deal even if it is listed in the feature sheet. Have your agent list all items you expect to be included in the deal regardless of how obvious it may seem.
Know your market you are looking in and regardless of what how high the asking price is if it's overpriced by $25,000 it is over priced by $25,000 if you offer $5,000less because you don't want to offend or you feel that they won't come down $25,000 you still have over paid $20,000. You must keep your emotions in check and stick to the facts of the deal or you could be paying allot more than you should. A couple of other things to consider when coming up with a number is the value of sweat equity that needs to be done ( if the listing price doesn't account for this it should be deducted) and also the space for the counter offer. If the maximum you and your agent feel the home is worth or that you are going to pay for it, is say $240,000 you don't want to offer $240,000 on the first offer you need to leave room for a counter offer. sometimes the offer to purchase can go for many times before a mutual decision is reached.

Example on coming up with your offer price:      Listed Price $240,000
Over Priced (According to previous records of homes sold  - $25,000
in the area as well  as well as other current listings)                      $215,000
Sweat Equity (if the work you need to do to is not reflected     - $8,000 
in the price it needs to be deducted as well)                                   $207,000
Counter Offer Buffer ( this can vary from one to ten percent      - 7 %        
depending on the market, if unsure always offer less)                   $192,510

Now yes this case seems extreme , and it is, however it really shows how if you are not prepared or you get emotional you could really over pay a large sum.
In some cases if the market is in the seller favor you really may not have much room to move at all but just remember that the asking price they have listed is one that they are not necessarily expecting to get so always offer lower because you never know what the seller may be willing to take. Even in hot markets leave some room for counter offers and try at all costs to avoid a bidding war as the only one who wins in this is the seller.

HOME INSPECTION

When buying a home, hiring a "Home Inspector" is a surefire way to ensure your decision isn't clouded with emotion. Taking a possession and then finding it is in need of major or even allot of unexpected repairs that can very quickly turn a new dream home into a money pit. Regardless of how confident everyone in the room is about how great the house is having a professional home inspection done should help to find defects in things like:

                      * Structural Defects
                      * Foundation Cracks
                      * Moisture in the Basement
                      * Worn Shingles  
                      * Plumbing and Electrical Problems
                      * Furnace and Cooling Systems

All of the above repairs and many others could add up to a huge repair bill that if not found before you close would land on your shoulders.
When you think about how big of purchase your home is it only make common sense to have it professional inspected. It's a small price to pay for Peace of mind.

LEGAL FEES

This is usually the final step in the home buying process and it's another that with a little work you could save yourself some money. If you have a lawyer that you have used for other issues you may want to ask them for their rates on real estate transaction. Before you call them and this applies if you don't have a lawyer you have used before is to get quotes form different firm or lawyers because your lawyer and other that you may decide to use may just say they will offer the same deal that you have found . So ask around it could mean big savings for you.