I. Don’t Get “Pre-Qualified!

Do you want to get the best house you can for the least amount of money when buying a home in [Profile.market2]? Be sure you are in the optimal position from which to negotiate. Price is only one bargaining chip in the negotiations, and not necessarily the most important one. Buyer strength and length of escrow are usually critical to sellers.

In the past it was the policy of most NH agents to suggest to potential buyers that they try to get qualified for a loan before they apply for it. This means that you spend a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you “pre-qualified” and issues a certificate that you can show to a seller. When dealing with certificates that hold no value, sellers are becoming more wise and let me explain why: This information has not been double checkedor verified and oftentimes-unknown problems surface. Some of the problems I’ve seen include recorded judgments, child support payments due, glitches on the credit report due to any number of reasons both accurately and inaccurately, down payments that have not been in the clients’ bank account long enough, etc.

When you're "pre-approved," your offer is seen as coming from a stronger starting position. This happens AFTER all information has been checked and verified. You are actually APPROVED for the loan and the only loose end is the inspection and appraisal on the property. This process takes anywhere from a few minutes to a few days depending on your situation. Something we strongly suggest for all of our clients to have.

It is an advantage to be a renter when competing with buyers who already own their home because their financing can be dependent on selling their current home. 2. Play the Game of Nines

Before house hunting in the [Profile.market2] market, make a list of nine things you want in the new place. Think of nine things you don't want in a house, then write them down. “NINE OF THIS AND NONE OF THAT”,I call this.  You can use this list as a scorecard to rate each property that you see. The one with the biggest score wins! This helps avoid confusion and keeps things in perspective when you’re comparing dozens of homes. When house hunting in the [Profile.market2], keep in mind the difference between “SKIN AND BONES”. Items like the location, view, size of lot, noise in the area, school district, and floor plan,the BONES are things that cannot be changed. The SKIN represents easily changed surface finishes like carpet, wallpaper, color, and window coverings. Buy the house with good BONES, because the SKIN can always be changed to match your tastes. Think of the house you are viewing as empty, without furniture. Consider each house on its underlying merits, not the seller’s decorating skills. Third: Don’t Be Pushed Into Any House

Your agent should show you everything available that meets your requirements. You should not make a decision on a house until you have seen enough to pick the best one. Your agent may not provide the complete list of homes for sale. By sitting with them at the Multiple Listing computer you can ensure for yourself that they will. [Profile.market2] get the home you really want instead of whatever the agent has chosen to let you take a look at.

At the end of the 80's, properties in [Profile.market2] were selling quickly. In this type of market, agents recommended that their customers place an offer instantly if they were interested in the home. At that moment, it was a sage opinion. Only homes that are very under priced, and you'll know the ones that are, usually have this sense of urgency. But keep in mind, if you wait to long there is always a chance of the house selling before you get your offer to the seller. If you really like a house, get an offer written and make sure your agent writes in the proper clauses to get you out of the offer.

Let's not forget that when making your consideration, also remember to do research into the SCHOOL DISTRICTS that are located in the same area. For more information about schools in the [Profile.market2] market you can visit my website at . Information is available on every school; such as class sizes, % of students that go on to college, SAT scores, etc.

4. Stop Calling Ads!

Take care - the agents in [Profile.market2] make the phone ring by creating ads. Many of the homes have some drawback that’s not mentioned in the ad, such as traffic noise, power lines, or litigation in the community. What’s not mentioned in the ad is usually more important than what is. For this reason, we want you to be very careful when reading ads. In most cases remember that the person writing the ad is representing the seller. The most important thing you can do is have someone on your side looking out for your best interests. Your own agent will critique the property with an eye towards how well it meets your needs and will point out any drawbacks you should know about. Remember to pick an agent you feel comfortable with and enlist the services of that agent as a buyer’s broker. Then you become a client with all the rights, benefits, and privileges created by this agency relationship, and you’re no longer just a shopper.  To get the most bang for your buck, buying property in the [Profile.market2], our highest recommendation is to find yourself an agent you're comfortable with and stick with him or her for all your real estate needs.

For the most up to date NH mortgage market information and advice on choosing a real estate agent, please visit our main site at www.BestNHLoan.com. For complete information about the [Profile.market2] real estate market including featured homes for sale, property values and more please visit the most complete website online dedicated to everything [Profile.market2] real estate. I would be happy to answer any questions about your mortgage when you contact me. Call me on my cell at I can be reached by email at .

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 Tags: NH Mortgage, Manchester NH Mortgage, NH FHA, NH HUD, Manchester, NH Real Estate

Article's Author

Kevin Wallace
Bedrock Mortgage
Manchester, NH

Contact Kevin Wallace