|Choosing homes tips||SouthJerseyHomes.com|
your " buyer's agent" I will
and submit your offer after helping you determine what upgrades or
concessions you might obtain from the seller. Factors that go into
this include: comparable property sales prices, condition,
properties on the market. A
prequalification or preapproval letter
from a lender MUST be submitted with the offer, otherwise the seller
may not even respond. Some homes sell for close to the asking price. Your objective is to get the home for the best price possible. You
want the best price but you also want to end up with the
Seller concessions: If you would like a home warranty, your purchase offer can specify that the seller will pay for this (generally about $400). You can also ask for money from the seller to help with your closing costs. This will reduce your out of pocket costs. These seller concessions reduce your out of pocket expenses at and after settlement. However, they also reduce the bottom line that the seller cares about most.
When you have your home inspection done ( generally by about 2 weeks after you sign the contract), you may discover defects for which you wish to ask compensation from the seller. The seller may or may not agree.
'bottom line' and the likelihood that the buyer can actually complete
purchase. The prequalification or credit approval letter is
Almost all lenders will provide this if you qualify. If they say
they don't, then go to a different lender. I should already have
this in my file by the time we are looking at homes.
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