Buying a home in Bend, OR, should be a time for happiness and excitement, not dread and complication. Bumpy roads can be discouraging, but with the help of the buyer’s agents at EXIT Realty Bend, everything will run smoothly. Our agents are always one step ahead of the real estate market, which will make buying your home a whole lot easier. When buying a home, here are some things for you to consider.
Hire a buyer’s agent. Hiring a buyer’s agent from EXIT Realty Bend will ultimately save you a lot of time and money in the long run. Our agents can send you listings that will fit your needs, so that you’re not wasting time looking at homes that are already in the process of being sold. Our agents also know when homes are overpriced, so we can negotiate the best deal for you.
Start searching for a home. You should know exactly what you’re looking for in a home, but you should also be open minded to other homes that don’t quite fit your “perfect home” mold. More than just bedrooms and bathrooms, you need to consider neighborhoods, commute time, the relativity to civilization, and more. You don’t want to overwhelm yourself, so only look at seven Bend, Oregon, houses for sale at a time maximum. If an out-shaded coat of paint is the only thing keeping you from purchasing a home, try to look past the paint. You can always find a more pleasant shade of paint, and also find the home of your dreams. Our Bend realtors can help you figure out which homes are worth considering, and which aren’t.
Figure out which neighborhood is right for you. Before you start looking for homes for sale in Bend, Oregon, you need to consider what neighborhood you would like to live in. There are many Bend homes for sale to choose from, but what about the neighborhoods that they are located in? The city is home to the High Desert Museum, which is a living museum and wildlife center. Is this a place you want to be near or farther away from, considering it’s a very popular destination for visitors? Living near it might also be an easy destination for a family adventure, though. If you would like to learn more about the city, check out the City of Bend website.
Learn the financing basics. When it comes to purchasing a home in Bend, OR, there are two things you need to know about financially. First, the difference between a fixed-rate and adjustable-rate mortgage (ARM), and the difference between pre-qualification and pre-approval. A fixed-rate mortgage, according to Investopedia, “is a mortgage that has a fixed interest rate for the entire term of the loan.” An ARM “is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan. You will need to decide if you will save more money with a fixed-rate mortgage or an ARM. Your buyer’s agent and lender can help you make this decision.
The difference between pre-qualification and pre-approval is large. Pre-qualification could suggest that you simply went to an online lender site and put in your information, and were approved to be lended money based solely on credit. However, doing only pre-qualification will make sellers less likely to choose you as the buyer. A pre-approval, on the other hand, is more complex. When you are pre-approved for a mortgage, it means a lender has determined how much you can borrow, the loan programs that you may qualify for, as well as the interest rate you qualify for. If you need help with either of these steps, feel free to contact our wonderful Bend, OR, realtors.
Start setting aside money. Do you know how much money you’ll need to save up for your home costs? If you need help figuring it out, use our mortgage calculator tool. Now is the best time to start saving any extra money that you have so that you can build your down payment.
Do a home inspection. A home inspection should be done before you make any sort of offer. Most of the time it is required by lenders to have this step conducted. Sellers aren’t necessarily required to make a repair that is discovered during the inspection. However, you can give the seller a “Request for Repair” and more than likely, the seller will go through with the repair rather than finding a completely different buyer. Either that, or you can use the repair to negotiate a price.
Submit a strong offer. Submitting a strong offer can be the difference between getting the home of your dreams, and being rejected. However, submitting an offer that is neither too high or too low can be very tricky. Your best bet is to get expert advice from the dedicated agents at EXIT Realty Bend. It’s also important to negotiate a sale, too. A seller can price a home however they please, but a buyer’s agent can tell you exactly how much a particular home is worth. Have your agent help you negotiate a price.
Read the fine print. From regulations to housing authority covenants to contingencies, there are many things that can surprise you after closing if you’re not diligently reading over your contract. Read everything thoroughly, and make sure that you get all of your agreements in writing and included in the contract as well. You need these handy in case anything in the future comes up. Our Bend, OR, realtors are the perfect people to help you make sure all of your agreements and needs are met in the contract before you sign it.