How to have a successful Home Buying transaction

1. Compare Property Values - The best measure of a property's market value is often the sale prices of nearby properties. Ask your REALTOR for a Comparative Market Analysis (CMA).

2. Meet with a reliable Lender  - Set-up an appointment to discuss all of the costs involved in purchasing your new home and ask them for a written Good Faith Estimate.

3. Estimate of Utilities - Ask your REALTOR to provide you with an Estimate of Utilities. This will give you an estimate of what the utility bills are for the home you're interested in purchasing.

4. Talk to an  Accountant - Ask an accountant about the tax benefits of buying vs. renting

5. Home Inspection - ALWAYS have a home inspection of the property. When making an offer on a property, ALWAYS make a home inspection part of the contract! The cost of the inspection will most likely be a  Buyer's expense, but well worth to have the piece of mind that you are award of the true condition. 

6. Sell first. Then buy. The property you want will probably not take a contingency offer. Unless you really want to own two properties, (and you have to plan for a worst case scenario) you are wasting your time with the offer.  

7. You can't have it all. Decide what is most important in your next home and put it into perspective. If it's location, or price, or view, or school districts, or amenities, or whatever. Remember that some things can be changed. Floors, kitchens, landscaping, etc. are all changeable. So if they are not perfect, they can be. But location, view, amenities, etc. are there forever.

8.  Use a REALTOR who knows the market. That may sound too simple in this age of the internet, when buyers have access to a lot of the same data the agent has. The difference is the ability to interpret that data.Full-time REALTORS do more than show homes and write contracts. They study market trends and observe area fluctuations. You are thinking about your needs now. But your agent is thinking about both now and in the future when you are ready to sell again and looking for your future resale opportunities. In addition, the internet is an increasingly non-objective source of information. Many websites do not display all the properties that are for sale, or that have sold, in a given area because of contractual conflicts. And most new communities are not listed at all in any search vehicle. A professional REALTOR should be able to show you all the homes that fit your needs.

One of the goals of PARKE AVENUE REALTY is to provide you with detailed information to assist you in making an intelligent and informed decision when purchasing your home!