Do you ever pause and think about the one that got away? Maybe it was the charming craftsman that had everything you wanted, except the huge walk-in closet. Or perhaps you’re still smitten with the cute bungalow that you flirted with for weeks, only to make up your mind one day too late.
In your home search, you must be sure there are no regrets and that your perfect match doesn’t wind up in the hands of another buyer. You’ll be disappointed if you lose the property of your dreams because you got cold feet.
So what do you need to do in order to get your fairy tale ending?
Dollars and cents
Whether you’re paying cash or getting a mortgage, you must be prepared to show what you’ve got.
Proof of funds and pre-approval letters should be given to your real estate agent immediately so that the information is on file and can be submitted with your offer. Remember, getting your financials may take a day or two, and you certainly don’t want to miss out on securing a home due to lack of preparation.
Love or lust?
Is it true love or just a fling? Make sure the home fits your wants AND your needs. The upgraded granite countertops and hardwood floors may look great, but can your family of five really live comfortably in only 900 square feet?
You’ll likely have to compromise on some things, but keep in mind that with houses, just like people, you’ll know when there’s “marriage potential.” These properties meet nearly all of your long-term needs, and their flaws are minor irritants rather than deal breakers. No home is perfect, so if all the important features are there, you’ve got to go for it.
Seal the deal
If you think it’s a good catch, so will someone else.
Given the low inventory of properties in many markets across the nation, your dream home might be as popular as Prince Charming on ball night. This can lead to bidding wars among several buyers.
How will you compete? Know what you want, determine how much you’re able to spend and take a page from Cinderella — find yourself a fairy godmother (a real estate expert) to guide you through the purchase process.
Don’t let another buyer walk away with your beloved!