How To Position Yourself To Get The Best Real Estate Deal
b"With Terry Story, 27-year veteran Real Estate Agent with Coldwell Banker in Boca Raton, FL
Buying a new home is one of the most exciting events in a person\\u2019s life, but it also can be one of the most frustrating. Instead of going into a state of high anxiety, consider allowing a professional real estate agent to guide you through the process from start to finish.
Even though the economy is good and interest rates are low right now, the real estate market is in constant flux.\\xa0 With her 27 years in the business, Terry Story has learned how to ride through the changes and negotiate the best deal for her clients.
Terry says that prices are higher across the board right now because of low inventory, so it\\u2019s important to know how to position yourself to get the best house for the money. At the beginning of the search process, Terry advises prospective buyers to have realistic expectations, to not go in looking for the elusive perfect house, but to expect to make some compromises and to stay focused on those points most essential to you, like being in the right school district.
Your qualified agent can also be your best source of information when it comes to qualifying for a mortgage. No longer is a 20% down payment a requirement; it can be as low as 3%, and if you\\u2019re a veteran, 100% financing could be possible.
Many people today are purchasing homes governed by a mandatory homeowner\\u2019s association. It\\u2019s critical for the buyer to have a copy of the HOA documents before signing the contract since there may be some restrictions or rules that are unacceptable and may be cause for not purchasing in that particular neighborhood. It\\u2019s the buyer\\u2019s responsibility to ask for these documents in advance, and a good real estate agent will make sure that happens.
A complicated situation could occur if the unthinkable happens and the buyer dies prior to the closing. Terry says she recently experienced such a predicament where one of the spouses passed away and the surviving spouse didn\\u2019t want to go through with the transaction. A real estate attorney was called in at her suggestion which then resulted in a reasonable resolution for all.
So since your realtor can be your greatest advocate all through the home buying process, finding that person you can work with is your best first step toward a happy conclusion.
Read The Entire Transcript HereCollapse Transcript
Steve Pomeranz: It's time for real estate roundup.\\xa0 This is the time every single week we get together with noted real estate agent, Terry Story. Terry is a 27-year veteran with Coldwell Banker located in Boca Raton, Florida.\\xa0 Welcome back to the show, Terry.
Terry Story: Thanks for having me, Steve.
Steve Pomeranz: So, Terry, the economy is improving, interest rates are low, and many consumers now find themselves in a position financially to become a first time homeowner.\\xa0 However, there are some frustrations that people are experiencing right now.\\xa0 Let's talk about them.\\xa0 What's one of the first frustrations that a new time home buyer might encounter?
Terry Story: Sure, well, first of all, don't get discouraged.\\xa0 The first thing that I find is they can't figure out the home buying process, and that's what realtors are for.\\xa0 Really if you're a first time home buyer, don't try to do this on your own.\\xa0 Get yourself associated with a good realtor who's familiar with the area that you're looking for.\\xa0 It can be a very frustrating process, but if you have a professional guiding you, it'll make this process so much easier.
Steve Pomeranz: It's like anything else that you attempt to do.\\xa0 There's complications to it.\\xa0 There's details that\\u2026we don't really do this for a living, so, therefore, you can read all the articles you want or maybe even a book or two and that's just wonder..."