Viewing homes for sale when you're looking to buy a property is exciting. However, it's important to be well informed and realistic. The following are six things you shouldn't assume when you view homes for sale.
The seller is going to accept much less than the asking price
While sellers typically don't actually expect to get the asking price, you shouldn't overestimate how much sellers will be willing to go down. Be realistic. Make sure you listen to your real estate agent's estimates when considering how much sellers are likely to be willing to drop the asking price by before you make an offer.
You have plenty of time to make an offer
You can miss out on a lot of great homes that are on the market if you take too long to make an offer. This is especially common when it's a seller's market out there. Don't take too long to make an offer after viewing a property you like or it might take you forever to finally purchase a home.
You'll be able to get a mortgage for the costs of the home you want
It's never good to make assumptions about how much you can borrow to buy a home. That's why you should get pre-approved for a mortgage up to a certain amount before you start shopping for homes. This way, you won't end up disappointed that you can't borrow as much as you need once you've found a home that you want.
You can't afford the home you want
At the same time, you shouldn't be too pessimistic either. Home buyers are often surprised at how much mortgage lenders are willing to offer them. Again, get pre-approved so you know exactly what you'll be able to borrow.
The home you're viewing doesn't have any repair needs that the seller doesn't disclose to you
You also shouldn't get your hopes up about a property regarding its condition or possible repair needs. It's not uncommon for costly repair needs to come up during the home inspection. In some cases, these repair needs make it so that a deal is no longer possible between the buyer and seller.
You should buy a home without the assistance of a real estate agent
The services of a real estate agent can be invaluable when you're buying a home. Your real estate agent can help you with negotiations and advise you throughout the experience of buying a home so that you can be confident you're making a good investment. That's why you shouldn't try to go it alone and buy a home without an agent.
Contact a company like the Greater Syracuse Association of REALTORS® to learn more about homes for sale.