Home Buying Tips from Keller Williams
In our experience, a house is not a dream home because of its size or color. Its about how you feel when you walk through the front door - the way you can instantly see your life unfolding there. This about more than real estate. It's about your life and your dreams.
Location, location, location. You must’ve heard that before. But that’s because, much of the time, that’s what real estate is all about. And never is it more true than when you’re buying a home. As a certified Real Estate Agent, I have the local knowledge, skills and experience to help you through the buying process. From property hunting and price negotiations to mortgage offers and legal paperwork, I’ll help you meet your goals, whatever they may be. Your dream home is waiting and I can’t wait to help you find it.
3 Execute Contract
The crucial period between an offer and a final contract is an important time to stay in close contact with your Keller Williams agent so you’re equipped with all the information you need to make smart decisions.
What should I expect to see in the contract?
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Ask your KW agent to explain the key points in your multi-page contract, such as:
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Accuracy of information, including the correct spelling of your name and the property address
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The effective date of the contract – important because your contingencies have time limits.
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A list of contingencies, such as that the sale depends on financing, an appraisal, a satisfactory home inspection and perhaps the sale of your current home.
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Property disclosure information from the seller, depending on your state laws.
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A complete list of what conveys with the property
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A list of required inspections, such as a home inspection and a pest inspection
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Information about when you can move in.
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In some cases, such as if your offer is contingent on the sale of your home, the seller may add a “kick-out” clause, which means that the seller could accept another offer if one is made before your home is sold.
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How do I know when to negotiate and when to let go?
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Your Keller Williams agent can guide you, but you also need to decide how much you want a particular property and what you’re willing to accept to get it. You may want to let go when:
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A bidding war drives the price too high
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The appraised value of the home is below your offer
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A home inspection finds defects that would be expensive to repair
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The sellers are unwilling to make reasonable repairs
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You learn about homeowners association rules that won’t work for you
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What are common contract pitfalls I should avoid?
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Your KW agent will help you watch out for:
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Unrealistic deadlines: you’ll need time to arrange a home inspection and receive the report, as well as arrange financing
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Missing deadlines means you lose your chance to end the contract and keep your deposit
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Items that don’t convey with the property: if you’re not sure, ask your agent to confirm
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Communications from your lender
According to the National Association of REALTORS®, the most common reasons for contracts to fail or to be delayed are home inspection problems, financing problems or an appraisal issue. Contact a Keller Williams agent to help you navigate the complexities of a real estate contract.โ
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4 Schedule Home Inspection
As soon your offer is accepted, you should schedule your home inspection. If you’re buying in a busy season, it may take time to find an available inspector, so rely on your Keller Williams agent to recommend trusted home inspectors.
What is a home inspection?
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Your home inspector will check a massive list (more than 1,000 items) of systems, appliances and structures in your home to evaluate its condition. You’ll get a written report that identifies potential problems and future maintenance issues. It’s up to you to decide whether the report means you want to walk away from a house or ask the sellers to make repairs. You can also have an “information only” inspection, which means you’re buying the house as is, but want to know its condition.
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What’s included on a home inspection?
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The inspector will check:
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Structural conditions such as the foundation, beams and floors
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Roof condition
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Mechanical systems such as heat and air conditioning
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Appliances – to make sure they’re working
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Plumbing – for leaks, rust and water pressure
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Electrical systems such as grounded outlets and code violations
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Safety issues such as stairs, handrails, mold or chimney maintenance
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What should I watch for during the home inspection?
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You and your KW agent should attend the home inspection to learn about home maintenance and so you can see any potential problems yourself. The inspector can answer questions as you go, so if there’s anything you don’t understand or are worried could be a problem, just ask.
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I’ve got the home inspection report, now what?
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While you and your KW agent can decide whether to negotiate on anything in the inspection report, you can ask the inspector the following questions:
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Are the items you’ve flagged major or minor issues?
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What needs to be done to resolve any flagged issues?
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Can you give me an estimate of the cost of any repairs?
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Do I need another inspection, such as by an electrician or a structural engineer?
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Are there things I need to do after I move in
Your experienced real estate agent can be the best adviser to help you understand the implications of the home inspection.