If you have been watching the Pittsburgh real estate market, you know that homes have been selling quickly. Interest rates are low, making it a great time to buy.
Now that you have decided you want to buy a home, what do you do next?
Find a Good Real Estate Agent
You need to find the right agent to guide you through the buying process, whether you are a first-time homebuyer, a move-up buyer, or a downsizing buyer.
Competition on homes has been fierce, and you need someone in your corner with the training and skills to negotiate the best deal for you. Hiring a Buyer’s Agent does not cost the buyer because the seller is paying the commission.
A common misconception is that working with the seller’s agent will get you a better deal. The Seller’s agent is working on the seller’s behalf and is contractually obligated to do so.
Do your research and find a superb buyer’s agent.
Obtain a Pre-Approval
Meet with a mortgage lender and obtain a pre-approval for a mortgage loan. The lender will look at your credit report to determine the amount of a mortgage you can receive.
If there are any credit issues, the lender can direct you to a credit repair agency that can boost your credit score to purchase a home within a few months.
Having a pre-approval letter before you start looking will help you in several different ways:
1. You will know the price range you are most comfortable with and target your monthly payments.
2. The seller will require a pre-approval letter to be submitted with your offer so that they know you are qualified to purchase their home before they agree to accept your offer.
3. You will not delay submitting your offer by having to obtain your pre-approval after you find the perfect home.
In today’s hot real estate market, you do not want to delay your offer because you did not have your pre-approval letter. Other buyers may be prepared with their pre-approval letter and submit an offer before you can submit yours. You wouldn’t want to miss out on the perfect home, would you?
Narrow Your Search Criteria
You most likely have an idea of where you would like to live. Maybe you are looking for a particular school district or proximity to work. Focus on your top area first, and then move out from there if you can not find the right home.
Make a list of the items that you must have in your new home, and be sure to discuss those items with your real estate agent. Think of the things that would be a “deal-breaker” for you and discuss that with your real estate agent.
The more your agent knows about your needs, the better they will be able to narrow in on the homes that are right for you. A resourceful real estate agent will be able to guide you to the properties that meet your criteria.
Hire The SAYHAY Team
We have a team of trained real estate agents who help buyers in the Pittsburgh real estate market. We offer a free consultation to discuss the buying process, your needs and wants, and establish a plan of action to help you find the home that is right for you.
Contact us at 412-303-3600 or SAYHAYTeam@gmail.com.