Buying or selling a home can be a stressful time even for the most experienced property owner in the best of markets, let alone when times are tough and the real estate outlook is gloomy. As a first time buyer, I can tell you it helps to have a realtor you can trust. Our realtor was a family friend who has been in the business for years and knew the area in which we were conducting our search extremely well. She excelled at negotiating and her experience gained us the upper hand during the entire home buying process, yet there were still things as new homeowners for which we were unprepared.
Location – If your place is located in the city, you will have a lot of competitive pricing policies to choose from. But, if it is located in some far flung area you can expect to pay a higher price, considering the cost and time to reach your place. The prices also differ in different parts of the country.
If you’re a first-time home buyer and you’ve never purchased a home, let alone a foreclosure property, it is beneficial to contact a local real estate agent who can guide you through the process of buying a foreclosure. If you work with an agent, make sure they know your priorities. Ask any potential agents if they have experience with foreclosures. Especially for first-time buyers, a good agent can be a comforting and a helpful resource.
Hire a professional; By interviewing and hiring a real estate professional will make the other steps go much smoother. Hire someone who will exclusively represent you, the buyer. They will “hold your hand” and guide you through the entire process. Be sure they are experienced and have some designations behind their name such as ABR (Accredited Buyer Representative) or CRS (Certified Residential Specialist). And best of all, this is a FREE service to YOU.
Second, Electrical problems for older Mobile Homes are common. They can be just a simple outlet that is not working, or as serious as half the home not having any power. Mobile Homes built in the 1960’s and 1970’s had Aluminum wiring which is susceptible to causing fires. Get a home inspection syracuse before buying and make sure all electrical problems are fixed. This would include smoke detectors in all rooms.
Dirty filter and coils in the furnace, air conditioning or heat pump system. Having your heating and cooling system serviced by a professional once a year should take care of this problem. You should also clean or replace filters every one to three months, depending on the requirements of your system. This is important for long life of your unit, efficiency, fuel savings, and the assurance you’ll have proper heating and cooling in your home.
How is the heater in terms of energy consumption in the winter? Is it hot and humid all-year round and if so, how much does it cost to keep the air conditioner running almost all-year round? Utility bills are just as important and may cost as much as your monthly payment if you’re not careful!
Get a copy of all of the loan documents prior to closing. It is important to be able to read through all of the documents as time may be limited during the closing. Always call your broker ahead of time with any questions. Never close on a property without having ample time to review the closing documents. After reviewing all of the documents set up a closing with the seller and your attorney. At the closing table make sure you have all the required checks and documentation. You should receive a checklist prior to closing. Remember, never sign anything you do not understand, and ask plenty of questions to make sure you understand.