Aug 132013
 

When negotiating on the purchase of your first home, I strongly advocate making an Offer as quickly as possible.  Strike while the iron is hot!

 

I mean that you should make an Offer when you first visit

a home that meets the two following conditions:

 

  • Comes close to your “Wish List.”   The “dream home” exists only in our minds.  Smart first time buyers who search for a home by first creating a comprehensive wish list—and writing it down for constant review as you house hunt—can make a prompt decision on any given home.  When a home hits most of the points on your list, it’s time to make an Offer.

 

  • Matches Your Affordability Level.  I assume you have been properly prequalified by an experienced mortgage loan originator.  By knowing your “numbers” you’ll know when a given home matches your level of affordability for a monthly payment.  It’s all about monthly payment.  When a home matches what you can afford monthly, it’s time to make an Offer.

 

Make an Offer NOW; don’t go home and think about it! 

Too many first time Buyers do that and they wind up losing

out on a great house because of their tardiness. 

 

Here in New York you are not committed to the transaction at the Offer-stage; not until you sign a contract of sale with your Attorney (usually about a week later) are you prevented from changing your mind.  If you’re not in New York, check with your local Realtors and/or real estate Attorneys to see what you’re committed to at the point you make an Offer.

 

 

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Hope that helps!

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