A good Springfield real estate company helps you manage expectations in the new housing market. For a smooth and seamless home purchase, establish what you want and what you need from your real estate agent. According to a recent article by U.S. News & World Report, a successful real estate transaction starts with managed and realistic expectations. Experts recommend taking 5 important steps to expedite the home-buying process.
Knowing what you can afford
The first step in a stress-free and seamless experience is to determine exactly what you can afford. Meet with a lender to go over a budget. Experts suggest bringing your W2 forms, pay stubs, bank statements and tax returns. You can expect a lender to pull your credit in order to give you a pre-approval for a specific loan amount. If you plan to buy a Springfield home with cash, find out how long it will take to move assets and stocks into a cash position.
Understanding the housing market
If you went house hunting 5 years ago, you will likely feel perplexed by today’s housing market. People looking for entry-level homes in Springfield often face stiff competition. The best Springfield real estate companies provide the support you need to place a competitive offer on a home. Talk to your real estate agent about how much homes have sold in the past 6 months in your preferred neighborhoods.
Establishing your real estate agent’s role
U.S. News points out your real estate agent is the most important individual you will deal with during the home-buying process. Communicate with your agent about how he or she prefers to interact, whether by email, text, phone or in person. Let your real estate agent know you don’t just want to view homes. You also want your agent to dig deeper to find out about recent improvements to the home, any crime statistics or information about the nearby schools and recreation.
Even though most people want a smooth home buying process, it’s better to expect a few bumps in the road. If another home buyer comes in with a sweet offer the seller can’t refuse, make sure you have a plan for continuing your home search. Don’t get too attached to one particular home because it gives the home seller too much power.
Looking for a realistic deal
Experts say it’s important to get a good deal, but unrealistic to expect a “steal.” A good real estate agent will help you figure out when you should concede and when you should hold firm depending on your priorities. Buying a home is one of the biggest financial commitments you can make.
At Realty Executives by Realty Choice, we are a Springfield real estate company that help first-time home buyers as well as repeat buyers and sellers interested in taking advantage of the new housing market in Springfield, MO. For more tips on reducing the stress involved in buying a home, please contact us.