| Shop for a Home |
| Avoid getting caught up in the heat of the moment.
You're making a contract to purchase a home, which will legally
bind you if the seller accepts. You also will submit a deposit
with your offer, which is only refundable under certain conditions. |
| Do Your Research
Find out about: |
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Current market conditions.
The more demand there is for housing, the more you can expect
to pay. |
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Prices of comparable homes sold in the area recently.
The range varies, so get up-to-date figures. |
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Current value of the home.
Work with your agent to get a list of recent sales of similar
properties in the neighborhood. |
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The seller's motivation.
In cases such as divorce or relocation, the seller may settle
for a lower price in exchange for a quicker sale. Questions
to Ask the Seller. |
| Prepare Your Offer |
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- Always make an offer within your ability to
pay.
- To strengthen your offer, include a letter of pre-approval
from a lender.
- Attach standard contingencies, or conditions, to your offer.
- You usually have to include a deposit with your offer, to
be applied to the down payment if the deal goes through.
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