Home Buyers Top 10 ?s #3

3.    Do I have to sell my home before I purchase a home?

If you have to sell your home to secure another property whether it is to free up equity in your current home of to be able to get financing on the next home.  You may make an offer on a home contingent to the sale of your home.  In doing this if the seller accepts your offer, you probably will be given 1-3 days to remove the contingency of selling your home if the seller receives another acceptable offer.  If you are asked to remove the contingency of selling your home you may choose to let the other party have the home you made an offer on or show proof that you are financially capable of purchasing the home without selling your present home. 

 The home you are purchasing will stay active contingent house on the MLS (Multiple Listing Service) and the seller’s agent can still advertise, hold open houses, and do what needs to be done to secure another offer on the property giving you first option to complete the transaction.  You will also want to get your home listed with a real estate professional in your area.

Home Buyers Top 10 ?s #2

2. What factors are important in a home?

a.   3 Words Location, Location, Location.  This is the most important factor of a home.  It not only impacts you and your family currently when you think about schools, shopping and distance to work it also impacts the sale of your home some day with the exact same concerns and thoughts for the next buyer.

b.  The second factor comes to your general criteria number of bedrooms, bathrooms, square footage of the home.  This is assuming that it is similar in location, style and age to other homes that you are comparing it to. 

c.   There are other factors that have great importance such as  garage size, age, lot size, landscaping, deck/patio, fireplaces, sprinkler systems, appliances, and any other special features the home has is important.

d.   While the above factors have much to do with value, keep in mind that if you plan to live in the house for many years you will want to buy what you like and what is important to you.  Potential future value of the home is not the only factor in purchasing a home.  There is also the fact of you enjoying the home and making it “YOURS”