The Most Important 4 Things Every Renter Should Know Before Buying Any Home in MetroWest Boston Massachusetts

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Tips for Home Buyers

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May 3, 2009, by Jim Byler in Tips for Home Buyers

1. 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 MetroWest Boston Massachusetts? Then make sure you are in the strongest negotiating position possible. Price is only one bargaining chip in the negotiations, and not necessarily the most important one. Often other terms, such as the strength of the buyer or the length of escrow, are critical to a seller.

In the past it was our policy 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. Sellers are aware that such certificates are WORTHLESS, and here’s why! None of the information has been verified! 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.

So the way to make a strong offer today is to get “pre-approved”. This happens AFTER all information has been checked and verified. Now for the final step. Loan approved, but what about the property appraisal? This process takes anywhere from a few minutes to a few days depending on your situation. It’s VERY POWERFUL and a weapon we recommend all our clients have in their negotiating arsenal.

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 MetroWest Boston Massachusetts 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. I call this “NINE OF THIS AND NONE OF THAT”. You may utilize this list like a scoring guide in order to rank all the properties you check out. The one with the biggest score wins! This will help to prevent any misunderstanding and maintain a sense of perspective while making comparisons of many homes. When house hunting in the MetroWest Boston Massachusetts, keep in mind the difference between “SKIN AND BONES”. Such as 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.

3: A good agent will show everything available that will meet your requirements.

Don’t make a decision on a house until you feel that you’ve seen enough to pick the best one. Go to the Multiple Listing computer with your agent to make sure that you are getting a COMPLETE list of homes for sale in MetroWest Boston Massachusetts and not just the home that the agent "wants" to show you.

At the end of the 80's, properties in MetroWest Boston Massachusetts Usually a few days after listing,were selling quickly. In that kind of market, agents advised their clients to make an offer ON THE SPOT if they liked the house. At that moment, it was a sage opinion. Today there isn’t always this urgency, unless a home is drastically under priced, and you’ll know if it is. Remember the dangers of waiting too long; the property could be sold before your bid arrives. 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 MetroWest Boston Massachusetts market you can visit my website at www.JimByler.com. Information is available on every school; such as class sizes, % of students that go on to college, SAT scores, etc.

4. Stop Calling Ads!

A word of caution – agents in the MetroWest Boston Massachusetts market create ads solely to make the phone ring! Some of the drawbacks the ad neglects to mention are traffic noise, power lines, and even litigation inside the community. What’s not mentioned in the ad is usually more important than what is. This is why we think it prudent for you to take great care when going over advertisements. Not you in most cases,and 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.So whether you decide to work with us or not, 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. Did you know that many homes are sold WITHOUT A SIGN ever going up or an AD EVER BEING PUT IN THE PAPER? These “great deals” go to those people who are committed to working with one agent. When an agent hears of a great buy, who do you think he’s going to callQuestion: His client, who he has a legal obligation to work hard for you, or someone who just called on the phone and said “keep your eyes open”? To get the most bang for your buck, buy property in the MetroWest Boston Massachusetts Our highest recommendation is find yourself an agent you're comfortable with and stick with him or her for all your real estate market needs.

A plethora of data on the subject of selling, buying or investments is out there at no cost. MetroWest Boston Massachusetts real estate. For complete information about the MetroWest Boston Massachusetts real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything MetroWest Boston Massachusetts real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer your questions. Call me on my cell at or email me at Jim@JimByler.com.

For more information about Boston MetroWest Real Estate please visit Jim Byler's MetroWest MA homeTEAM Real Estate information Website.