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Finding the Right Home

April 05, 2017

The home market is not in the height of the season for home sales as it usually peaks in summer, but this year, things have taken off much more quickly. Homes are being listed and within just a few days, sometimes less, are receiving offers. The reason for this is that the market does not have enough homes for sale for all the potential buyers currently looking for a new home.

 

This leaves a prospective home buyers becoming quickly frustrated with finding a new home. There are a few reasons why this should not be discouraging and there are some critical things that can improve your chances of finding a new home.

 

Sit down and talk to your mortgage lender before starting your search. Finding out what home value you qualify for is crucial. You don't want to waste time making offers on homes that you may later find out you cannot afford. Also, your mortgage lender will help you provide the realtor with proof you are pre-approved for your new home loan.

 

Another important thing to remember if you are a first time home buyer is that you have an advantage over many people writing offers on homes. They must put in the contract that their existing home must sell in order for them to buy the new home. This is called a contingency. As a first time home buyer, you don't have to have this when writing your offer to purchase, and that is very attractive to a seller. They do not have to worry if your home is going to pass inspection, need repairs, and possibly bog down or worse yet, cancel their deal because the buyers cannot sell their current home.

 

This is the perfect time to be looking for a first home. Even if there is an offer on a home you like, it's possible it has a contingency just like this on it - with the buyer needing to sell their home to complete the deal. Many offers are written where the home seller can have your new offer supersede the existing offer, because of the contingency. A little patience can result in you finding that perfect home!

 

Contact your mortgage lender today, and let’s get home shopping!

 

 

Ron Meyer
GSF Mortgage Corporation
300 Patriot Dr.
Little Chute, WI 54140
(920) 788-9608
rmeyer@gogsf.com
NMLS #222688 & 1018