There are two very simple but absolutely critical rules for buying a new home:
1) Get pre-approved for mortgage financing.
2) Engage a Buyer Agent to represent your interests in the transaction.
Almost all credible mortgage lenders offer free pre-approval services. To be “pre-approved” for financing is far superior to being “pre-qualified” for financing. The pre-approval process essentially reviews your credit, verifies your income and assets and establishes a loan amount for which you qualify. Once you find a house that you wish to purchase, a contract is prepared subject to formalizing the financing approvals. Having a pre-approval letter accompanying your offer to the Seller gives it “teeth” and is certain to make the Seller take your offer much more seriously. It will also help you and your agent in the house hunting process by establishing the price range in which you should be looking.
Find a Realtor who is experienced, qualified and with whom you are comfortable. That Realtor will have access to all of the homes on the market – regardless of which company has the house for sale – through the Central Penn Multiple List System. By working with just one Realtor, you can establish a rapport and the Realtor can quickly learn what you are looking for and what you are trying to accomplish. Jumping from one agent to another in the house hunting process is of very little benefit to anyone involved. Best of all, there is very little or no charge for hiring a Buyer Agent. Wolfe & Company Realtors has no Buyer Agency fees or any transaction or “junk” fees. We are simply paid by the Seller at settlement out of the pool of commission money that the Seller has agreed to pay the listing agency for selling their home.
One word of caution in making an offer – Buyers and Buyer’s Agents do themselves a disservice when they decide to make a seller a ridiculously “low ball” offer. Offers that offend or antagonize a Seller usually fail to gain the Seller’s best counter proposal. Remember when making an offer, it is important to get the Sellers attention and, in turn, the Sellers best response.
Wolfe & Company Realtors prides itself in being the “go to” Buyer Representative for many of the largest employers in the area. For the best personalized attention available to folks buying a home, contact Wolfe & Company Realtors.