5 Lies Stopping You From Buying a Home During a Pandemic
Being able to buy a home whether it is your first or fifth home is a big step and accomplishment to provide your family with a new home, share new experiences, and make new memories.
I remember when I was searching for my home and found information about the process of purchasing a home, it seemed like it would be a smooth process since I had all of the documents in order.
Wow! I was completely wrong, the process of buying a house was one of the biggest headaches I have ever experienced from the mortgage company to the real estate agent that was helping the people sell their house to us.
I thought it would be helpful to discuss a few things to look out for while looking for a home during the pandemic, being able to have things to avoid, and discover the pros and cons of buying a home during a pandemic.
Do not go with the first loan you see.
Your loan officer is someone that you are going to work closely with, you want the connection to be worthwhile because your loan officer can either make your loan process amazing or they can make the loan process a nightmare.
When you make an offer on a home you will need to receive a pre-approval letter which will provide you with a certain amount that you are allowed to borrow to purchase the home.
Another thing to keep in mind is being able to lock in a good rate, if you go with any loan officer you may find yourself accepting a rate that you are not too fond of. If you have a good loan officer they will help you lock in a good rate.
Choose a real estate agent that has your best interest.
Just like the loan officer you want a real estate agent that has your best interest. You also want to be able to trust your real estate agent.
You want your real estate agent to push for you when it comes to offering time and you also want them to be honest with you if it is not a good situation.
Keep in mind that every real estate agent you are not going to fall in love with because some may have different intentions.
There are real estates that are not one hundred percent honest. A real estate agent will tell these five lies to make a sale.
- They will lie about their production level, this can be a sticky situation because some real estate agents see this as a small lie but if you want to sell your home or buy a home and you are basing it off of their experience.
This could end badly if they do not perform how they presented previously. A great tip is if you are not sure about the real estate agent reaching their production contact their broker.
- They will lie about their specialty to book you as a client. For example, you could be looking for a luxury townhome and they keep showing you homes that are below your standard.
- They will lie about brokerage fees, a real estate agent will tell you that they are not negotiable when in reality they are. This can be used as one of their marketing strategies to get you to sell your home.
- They will lie about real estate listings, you will be told that there are a ton of houses that you would be interested in buying but, in reality, that house has been bought or there is a pending offer.
- They will lie about different locations saying it has potential when in reality the property and location are going downhill.
Each real estate is different, that is why it is important to know who you are dealing with and what they are able to provide to you. Also, make sure you take the time out to look up their real estate license to make sure it is active.
Be present for the home inspection.
This is one of the biggest mistakes anyone could ever make! It is so important to attend the home inspection because you want to be able to walk through the house and point out things that may need a little help.
This is key because once you sign the contract to the house it is yours, so make sure you are purchasing the house the way you want it.
When it comes to the appraisal they will be comparing them to similar homes due to the pandemic.
Be prepared to bid and be prepared to let go.
Keep in mind during a pandemic you will find deals and you will run into other families looking for a new home.
That family may have a better bid than you or be willing to risk more, which is fine. You will have to come to grips with losing a bid and winning a bid.
It is all about where your mindset is at and what you are willing to do to purchase your dream home.
When purchasing a home one of the biggest advantages that you have is information and information is power. Having the information will allow you to realize what is a lie and what is the truth.
Being able to build a strong team such as a good loan officer and an understanding real estate agent will help you achieve so much during the buying or selling process.
With a great team, you will be able to focus on the positive things that come with buying a home whether you are in the middle of a pandemic or not.
When it comes to buying a home it is supposed to be a process that you enjoy, you should be focused on keeping a great credit score, being able to buy new furniture (not finance) for your home, and enjoying making new memories.
