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Questions to Ask When Buying a Home

by Jerry Pinkas

 

Questions to ask seller when buying a house

 

 

 

 

 

 

 

 

 

 

 

 

The idea and process of buying a home can bring with it a mix of emotions. The excitement of a new chapter in a new home, the nerves of hoping you make the right decision, the confusion of real estate jargon and contracts – we have seen it all! And we are sure that whether this is your first time purchasing a home, or if you are a seasoned pro, there are bound to be questions along the way and topics that you may want clarity and more information on. Luckily, here at Jerry Pinkas Realt Estate Experts we have seen just about every situation you could think of unfolding, and are experienced professionals when it comes to everything real estate. We are here to answer any questions you have!

In today’s post, we are going to be talking about questions that you should be asking when buying a home. These are also questions that we get asked over and over again and surround topics that you should be knowledgeable about prior to starting the search for your new home. The information and questions below are things you should think about and be prepared for, as well as are the topics you should be talking about with your real estate agent to ensure you are on the same page before your journey begins.

 

Question one: How many homes should I see before I make up my mind on which one I want to purchase?

This is a very good question because, in today's day and age, you can view endless properties online via pictures, clips, virtual tours, etc. And while viewing these listings online is quite convenient, many times the information provided is not completely accurate and will not give you the overall picture of exactly what is going on with the property and the home itself. You want to be able to see and touch the home to really get a feel for what you would be purchasing. But back to the question on hand – we have seen people walk through two, three or four houses and end up finding the home of their dreams within one of those. And this may be a lower number than what we have seen in the past because, again, with the internet people are able to narrow down their area and neighborhood pretty precisely without leaving the comfort of their laptop. And once they see a few homes in their desired neighborhood they are able to narrow it down more quickly. But it is important to not get stuck on the ‘number’ of houses you see, but instead the quality of the homes, which one pulls at your heartstrings and checks off all your desired criteria.

Home Checklist Questions to ask when buying a home

 

 

 

 

 

 

 

 

Question two: How can I afford?

Now, this is something where you will want to actually sit with a lender and see what you qualify for prior to starting your search. If you are to start your home search before you know exactly what you can afford, you may end up falling in love with a home that is completely outside your budget, which leads to nothing but unnecessary heartbreak and frustration. You not only want to keep in mind how much the home is, but you also want to make sure to take into consideration how much the payments are on a monthly basis, along with taxes and insurance, to ensure that it is attainable for you and your family. Making sure you know exactly what all those numbers break down to is an important factor in you being comfortable and confident with your purchase, while also ensuring that you do not get yourself into a jam and struggle to make the payments each month.

The Home Buying Process

 

Question three: What do you think the seller will take?

Speaking from experience in our area, we see properties sell for within three percent of asking price. If the house is marketed correctly and competitively priced for the area, we see the homes not only go fast but also have multiple offers on the table. All of these factors allow the seller to be picky with which they choose to accept, and it is all relative to the area you are looking at. But in the end, it is really all unknown and unfortunately, we do not have a crystal ball to tell us exactly what offer the seller will take. Sometimes what you think is a good and fair offer will be outshone by another offer that comes in directly after you. 

Now it is important for us to point out here that we have seen some clients who find a house they love and want to put an offer in. They go into it with the mindset that they want to start off by presenting the seller with a low offer, assuming that they will come back with a counteroffer and the negotiations will begin, but they think starting low is the best strategic plan. And while the reasoning can make sense to some degree, we have also seen that type of thinking actually working against the client. 

You need to be sure to understand that going in with too low of an offer can actually offend the seller and cause them to have a bit of an attitude when dealing with you. It can also lead to the seller being so offended and insulted that they decline your offer altogether and do not make a counteroffer at all, and the deal is essentially off the table. Making and presenting offers can be a tricky balance, which is why working with an experienced and knowledgeable real estate agent is so crucial. Your real estate agent should know the comps in the area and the local market, and be able to guide you in the right direction when it comes to making an offer to get you the best deal, while also not insulting the seller.  

Questions to ask before making an offer on a house

 

 

 

 

 

 

 

 

Question four: How do I know that I am getting a good deal?

If you have a good agent on your side, they are going to be able to guide you on this matter. They will be able to tell you the comps in the area, the breakdown by the square footage, talk about all the different odds of how fast houses are selling, what the absorption rate is, how long the house has been on the market, and what the trend is year over year in the area. These are all things that can help you identify if you are getting a good deal on the house you are interested in. You can try to predict what the market will be ten years from now - are the houses going to be the same price they are today? And while there is no way to predict that far in advance with complete accuracy, a good real estate agent can help you make an educated decision based on past market trends. The days of going in and getting a house at a ridiculous price are gone, and it is important to keep that in mind during your search. 

Question five: How long does it take to close?

In our area, the average closing time takes about thirty to forty-five days, but we have seen cash buyers come in and close in as little as ten days. And just to be clear, there was a lot of hand-holding in that closing because we make sure that everything is done right to protect the best interest of our buyers, but it can (and has) been done if that is the situation you end up in. But for the average deal, we are seeing thirty to forty-five days for closings.

Questions to ask when touring an open house

 

 

 

 

 

 

 

 

What should I do if I am interested in purchasing a home in Myrtle Beach, SC?

No matter where you are in the country, the questions we talked about above come up all the time. And we wanted to bring you the information that many people are looking for, and also the information that many people may not know they need. We want to make sure that you get the best deal when you are looking to purchase a home. So if you are looking to purchase a home, give our team a call today! This is what we do, we do it every day, and we are very good at it. Allow our experienced team members here at Jerry Pinkas Real Estate Experts to guide you and help you find your dream home in the Myrtle Beach, SC area. We have helped so many individuals, couples, families, and retirees find their perfect home to settle into, and we know we can do the same for you. We look forward to working with you soon!

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What to Look for When Hiring a Buyer’s Agent

by Jerry Pinkas

 

How to hire a Buyers Agent

Buying a house, regardless if you are a first time home buyer or a seasoned pro, is an exciting time and has the potential to be a fun and enjoyable process for you and your family. As you sort through different neighborhoods and house styles, you start to envision what your new neighbors will be like, how each room will be used and what touches you will put on the home to make it uniquely yours. As thrilled as you are for your new chapter to start, you need to first focus on getting the right people in your corner as you being the home searching and buying process. And as you may have guessed, that is where our blog topic is going to be taking us today. We will be discussing all the important things you need to know about finding and hiring on the right buyer’s agent, and why the right agent is so crucial in determining your success and experience during the home buying process. 

Why is it important to hire a buyer’s agent when looking to purchase a home?

As we have discussed in a previous post, there is a pretty significant difference when it comes to buying and selling agents, and the importance of having the right agent on your side to meet your specific needs as a client. Why is it so important to have a buyer’s agent when purchasing a home? Simply put, you want an agent that is skilled and experienced when it comes to buying houses and will have your best interests at heart during the entire process. Having an agent that is solely focused on helping clients through the buying process will ensure that they are not bringing you only to listings they want you to see (i.e. their other listings) and that they have the skill set needed to help you throughout the journey.

Here at Jerry Pinkas Real Estate Experts we split our agents down the middle and have a specific group of agents that are solely focused on helping our clients purchase homes and another set of agents that are solely focused on helping our clients list and sell their homes. And we are very calculated in that move because we know there are two completely different skill sets involved here. We understand that the needs of our clients who are selling their home are different than those of our clients who are purchasing a home, and therefore our agents cater to and use different skill sets for each. Understanding the importance of hiring on a buyer’s agent when looking to purchase a home can make all the difference and can save you a lot of time, energy and headaches along the way. 

Buyers Agent Fees

What traits should you look for when hiring a buying agent?

Before we touch on the traits you should look when hiring on a buying agent, we first want to touch on what their responsibilities are, as fully grasping what buying agents do can then, in turn, help you identify the traits you should be looking for. First and foremost, a buyer’s agent is responsible for being there and assisting their client through the entirety of the buying process. While it may not seem like it, there are many duties and responsibilities that the buying agent handles to ensure the process is not only successful but also that it runs smoothly for their client. After you find the agent you want to work with, you will sit down with them and review your “must have” list and you “want” list. This will help to give your agent a better idea of the nonnegotiables in a home, as well as things that are very important to you but not necessarily deal breakers. 

What does a real estate agent do for a buyer

Your buying agent will then take that list and search for listings that meet your desired criteria. It is important to note here that having an established and successful agent on your side can potentially mean that you will gain access to listings that are not yet on the market through connections and relationships they have with other selling agents. This gives you an edge on other buyers and therefore lessening the competition and widening your range of potential homes to choose from. Once your buying agent has a few homes they think you will like, they will then arrange for you to see and walk through the home. When you eventually find and fall in love with a home, you and your agent will sit down to craft an offer to send to the seller’s agent. Your agent will then negotiate on your behalf until agreed upon price and conditions are met. Your buying agent will be by you, representing you, the whole way through until every contract is signed and every contingency is met. 

Buyers Agent Duties

As you can tell, there is a lot that goes into the process of finding and buying a home and therefore you will be spending a lot of time with your buying agent. They essentially will become your new best friend, which is also why finding the right agent is so important. A few traits you will want to see in your buying agent include someone that is honest, trustworthy, reliable and has a proven track record of success. If a realtor has a positive reputation and raving client testimonials, you will have more confidence in hiring them on to represent you. If a realtor does not have such positive testimonials or a track record of success, you may want to rethink that person and instead find someone that you know will be better suited to represent you.

Why should I choose Jerry Pinkas Real Estate Experts when looking to buy a home in the Myrtle Beach, SC area?

As we have said in previous posts, we know you have many options in realtors when it comes to buying and selling homes in the Myrtle Beach area. And while there are some good agents around, you want to make sure you have the best team representing you during this process to ensure you avoid the pitfalls that can be costly, frustrating and time-consuming. Our strongest weapon here at Jerry Pinkas Real Estate Experts, and what really sets us apart from others in the area, are the incredible realtors we have on our team. We will work hard for you day in and day out to ensure you have the best and most successful buying and selling experience possible.

Buyers agent vs real estate agent

We have many diverse and talented agents on our team that have a lot of experience, education, and knowledge around not only the general real estate market but also the Myrtle Beach, SC area. We have agents with different backgrounds, one specifically in home building, which allows our team to help you spot structural damage before buying a home. At Jerry Pinkas Real Estate Experts we are not focused on our clients finding the highest priced home so we make the most commission, we instead are focused on helping our clients find the right home for their budget and taste, and want to help them make the best investment possible. We work with a lot of individuals, couples, families, and retirees to help them find their dream home in Myrtle Beach, and we know we can do the same for you. Why have average when you can have the best? This is what we do, we do it every day and we are good at it. Give us a call today, we look forward to working with you!  

 

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