Agents in 3 Counties to Serve You

Buying a home is not for the timid. But by utilizing the services of a dedicated Realtor, the process can be nearly painless. Why not call us to help you guarantee a smooth transition to your dream home?

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​3 STEPS BEFORE YOU BUY

Get prequalified for a mortgage. Prequalification means you give your lender an overview of your finances, including outstanding debt, income and assets. The lender then tells you an approximate mortgage amount that you may undertake. This is usually free and doesn’t require running your credit report. Preapproval requires an official mortgage application where you give the lender the details needed for an extensive financial and credit check. It is to your benefit to be prequalified before you begin looking for houses, so that you can zero in on acceptable homes in your price range. And once you make an offer, you only have 3 days in the state of Tennessee to apply for your loan. So, the faster you start the process, the less frustrated you will be.

 

Do you really want to downsize that much? Many of our customers move from homes that are 4,000 or more square feet, and they tell me, “we want to downsize to 1,500-2,000 square feet.” It makes sense; when you retire, there are a lot of things you’d rather be doing than taking care of a massive house. But, I would urge you to give this some considerable thought, because plenty of folks have overdone the downsizing, and ended up renting storage units to hold those possessions they couldn’t live without—or even purchased a bigger home later.

 

Have your future home inspected—no matter how old. This is crucial. Even if you aren’t inclined to ask the sellers for repairs or replacements, you need to know the condition of the home you are purchasing. But be aware that a home inspection is not the only inspection you may want. We recommend a termite inspection, too, and if you are obtaining financing, the bank will require that. But there are other inspections you may desire, including structural, roofing, radon, appraisal (usually required if financed), and survey. Your purchase contract will specify how many days you have to complete the inspection and to renegotiate with the seller, if necessary. Those are drop-dead dates—you must comply with them, or you have no legal standing to renegotiate.

 

There are certainly more steps in the process, including an appraisal, underwriting, final loan approval, and walk-through, but if you can sail quickly through the first three steps, you will be well on your way to a successful home purchase.

WHAT DOES YOUR DREAM HOME LOOK LIKE?
  • Price range?

  • How many square feet?

  • How many bedrooms?

  • How many bathrooms?

  • Acreage or a lot?

  • Subdivision or a country setting?

  • Restrictions or none?

  • New home, a few renovations are ok, or do you want to do major renovations?

  • What size garage?

  • Lake or golf front?

  • Lake, golf, river, mountain view?

  • Amenities?

  • School system?

RISKS OF BUYING WITHOUT USING A REALTOR
  1. Have to do your own research to see if the home you are interested in is priced within market value and to determine what is a reasonable offer to make.

  2. Have to do your own negotiating. Negotiating an offer on a house is very different from, say, buying a car. Both require knowledge of the item for purchase, but negotiating an offer on a house requires advanced knowledge in the real estate market and a multitude of other skills that only a real estate agent can bring to the table. Negotiating is a skill that is honed with practice and can be very important in getting the price that is acceptable for you.

  3. Won't have a neighborhood specialist to rely on. Agents who sell in particular areas know facts about that neighborhood, which could be important to you—and which the seller might not disclose.

  4. Might not receive all of the seller disclosures that you are entitled to by law to receive. Sellers may not purposely withhold a disclosure, but would you know what to ask for?

  5. May pay more for closing costs than is customary in your local market. Sellers could require you pay for everything, and would you know the difference?

  6. Have to determine the types of inspections you should perform and if repairs need to be done. Agents can provide a list of qualified inspectors/contractors/vendors to hire for the job.

  7. Could encounter an unscrupulous seller, who may decide to keep your earnest money and not perform on the contract. Would you know how to handle this? Sadly, this has happened in our area many times.

These examples highlight that Realtors, especially experienced ones, are very valuable in making the buying/selling process a smooth and pleasant one. We all strive to do our best to serve you. Next time you are in the market to buy or sell, I hope you use the valuable services of a local Realtor.