In relation to my last article “Hustle Baby Hustle”, buying a home is indeed a process.   But as a home buyer, there are certain expectations that you too need to set for yourself.  Here are six tips to keep in mind when buying a home:

1. The Market waits for no one Buyer:  If you are interested in a house, don’t wait to see it or write an offer.  Too many times I have seen disappointed Buyers because they were too late to write the offer.
2. Low balling offers do not work:  If you want your offer to be taken seriously, then write a serious offer.  If you are going to write a low priced offer, then prove to the Seller why they should accept it.  For example, have your agent include a Comparative Market Analysis on the home to better explain why your offer is what it is.
3. Cash isn’t always King:  I have had my clients beat offers that were all cash.  More and more sellers are willing to take the risk and time restraints of a buyer with a loan if it means they net more money in the end.
4. Offers are a mix between price and terms:  If you do not want to go up in price, consider shortening certain terms such as inspection times or close of escrow.
5. Get a Pre-Approval letter from a Direct Lender:  A direct lender, such as Wells Fargo, Bank of the West, or Chase, hold much more clout than a mortgage broker who seeks out the loan for you.  That is because, generally speaking, a mortgage broker doesn’t go as in depth into your finances, thus creating more risk for problems once in escrow.
6. Be willing to compromise on your home search:  No house is perfect.  Being too picky will make you not only miserable, but you may be spending more money down the road when you finally start compromising due to rising prices.  Take a step back and compare the home you are seeing with your vision and see if you can make it work.  You will be surprised on you will find.

These six tips are just a few that you need to keep in mind when purchasing your next home.  Life’s too short to miss out on your dream home.  Good luck on your home search!