Buyer Tip Sheet

Prepare: Before you contact a Realtor, before you start shopping, think about what it is you want, and your priorities in terms of the type of property, size and features of a home, the neighborhood and surrounding amenities. Use the Web to learn more about neighborhoods and communities where these things are all available.

It's also a good time to make an honest assessment of your financial situation, and what you can afford. How much can you pay for a mortgage, on a regularly monthly basis. Remember that home ownership is also more expenses than renting, like insurance, and maintenance. Also, there's the down-payment: you'll need some cash reserve to put down on the house as a condition of most home loans. You may need to save for a few months before you're ready to buy. Or you may be ready to visit your bank and find out how much a mortgage you'd qualify for, based on your financial situation.

Whatever your situation, all this information will guide you and your real estate professional in your search for the perfect property.

Hire A Professional To Help: A Realtor^® - a member of the National Association of Realtors^® - has the knowledge and experience to assist you, from finding property through negotiations and closing. Ask around for recommendations from friends, family and past clients. Use the Realtors'^® and/or their brokers' Websites to pre-screen candidates; it's usually a good indication of how well they know their market area, and the level of professional services they can provide. If you call an agent about a specific listing, ask what their relationship is with the seller. You may want to hire a buyer's agent to represent you.

Explain to your agent your financial situation and motivation to buy, and any preferences you've established about where or what type of property interests you. Listen to what he or she says about the market, trends and sources of financing. Use the Web, and his or her recommendations to pre-screen properties through virtual tours, narrowing your selection to only those which are within your range and truly interest you.

Patience: When you progress from tours to visiting the properties, leave your emotions at home. Don't fall in love with any place until you own it. Be thorough in your evaluations of the property and its surroundings. Don't compromise without cause. Listen to your Realtor’s candid assessment and advice on steps you should take or considerations to make to protect your interests. Be honest and open about your enthusiasm and concerns, and trust him or her to represent your interests during negotiations.

Be patient, especially after the contract is signed. There's much to do and much which can delay the transition to a successful closing. But in the end, with your Realtor's help, it will all be worth it.

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