Wanting to snag a great deal? Be ready for it.

renovated house, late evening sun
Image by cafemama via Flickr

I dare say everyone wants a great deal.  That is not selfish, it’s smart!

Some people show their smartness by doing the necessary actions and planning into the future.  Good deals can turn up at the least expected moments. 

A good deal showed up in the last couple of weeks in Almaden.  This property needed someone with construction experience and they could have netted a couple of $100Ks in value.

Now why couldn’t everyone take advantage of this scenario?  Financing and the speed to put everything in place.  In this situation it probably would have required a cash buyer to be successful.

So being ready requires getting your financing in place for your situation and being ready to jump into action at literally a moment’s notice.

The first step in the sequence for buying a home such as this is – Having financing in order before the need – In this case it might be having cash, a group of investors with cash, special financing for rehabbing a home or a construction loan. 

With the new lending environment you will be put under a microscope with strong magnification.  Those old days of “does the buyer fog up a mirror (breathe)?” are long gone.  Now the process is fill out the paperwork, supply a lot of financial information and then the scrutinizing begins. 

I have a lot of people say if you see a good deal give me a call yet they have failed to get into action and get financing in place.  If you wait for the deal to present itself you will lose out. 

Deals generally are only up for a few days then they are gone.

The next step in the sequence of buying a home is hook-up with a knowledgeable Realtor.  Since most buyer’s agents are paid by the seller why short change yourself and not utilize the Realtor.  Meet to talk over your desires, let her set up a search designed to suit your needs and interests.  Also, for your information, the Realtor can often tweak your online search at the back site to eliminate properties that don’t suit your needs.  One final note – some of the largest Real Estate search sites have old listings that were sold months ago.  Why waste your time searching  “sold properties”?

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