Buying
Buying in today’s changing market requires a great degree of patience and being able to “roll” with the punches especially when purchasing a short sale. Also, financing has gone through many changes in the recent past that has made it into a longer process.
We have been seeing, certain neighborhoods, a lack of inventory and multiple offers on properties especially bank owned properties. We are finding that the age old adage “Cash is King” rings very true when getting into a multiple offer situation. The asset management company will often take an offer for less money(sometimes significantly less) if the get a cash offer.
Resources for Buyers:
Buying Assistance:
There are many programs out there to assist buyer’s in getting their dream home. FHA, Nevada Rural, USDA, are just a couple of entities that assist home buyer’s into getting financing. Some of the assistance includes down payments of as little as 3.5% as well as down payment assistance in the form of a closing cost concession from the up to as much as 6%.
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Buying How-to’s
Buying involves many things in today’s ever changing market. First, you don’t want to over-pay….that can be avoided by making sure we do our research and provide the most up-to-date market information available. You’ll want to know how the property is being sold, bank owned, short sale, probate or regular sale. This can influence your offer and how much time to expect before you can close. Once in escrow, you’ll need to hire a team of licensed inspectors to make sure the structure is free of pests and if it requires any repairs. A word of caution-many homes that are being sold as bank owned/short sale are “As Is” and repairs will not be completed. Again, an experienced realtor can really go a long way in making sure your sale goes smoothly.
