First-Time Home Buyer & Seller Tips
Buyer Tip #1
Be practical about your approach. Too often, first time home buyers will be ruled by their emotions and become attached to less than desirable properties. First-time buyers should spend their time researching the local market trends and making sure that they are financially ready. We recommend that every buyer gets qualified before beginning their home search, this will let them know how much money they have to work with and narrow down their search criteria. Making it a faster and smoother process!
Seller Tip #1
Get your home value report. Your agent can provide you with a home value report, the report generally looks at comparable properties in the area, updates, age, square footage, number of bed and baths, lot size, and other details. Knowing your home value at the start will make the process move smoothly and stress-free for the seller. Get your home value report here.
Buyer Tip #2
Did you know that buyer's representation is FREE?! A lot of first-time home buyers are hesitant to reach out to a real estate agent because they think it will cost them money to be represented by one. The truth is that realtor's get paid on seller commission, the seller has negotiated the commission they pay way before the house is even advertised!
Seller Tip #2
Update your home. It's important to spend some time going around your house and checking to see what can be improved, remember that buyers want to fall in love with the home, just like you did when you first bought it! The best way to increase the ROI on your home is to upgrade outdated features, here are 4 features that buyers are looking for in 2019. Click Here.
Buyer Tip #3
You don't need a 20% downpayment. Ask your agent about first-time home buyer programs, Team Sua has worked together with many first time home buyers who never thought that they would be able to afford a home! Check out The Brown's first-time homebuyer story. Click Here.
Seller Tip #3
Market your listing effectively. Did you know that 79% of homebuyers are now going online to search for homes? That's why it's so important to make sure your home is advertised across multiple channels. Team Sua provides a comprehensive digital marketing strategy to sell your home. Our approach includes targeted Facebook advertising, email marketing, content marketing, and personalized 1-to-1 outreach. Check out our marketing strategy here.
Buyer Tip #4
Pre-approval is Key! Before starting the home search home buyers should know how much money they have available for a down payment, have addressed any credit issues, spoken with a mortgage company, and obtained a pre-approval letter. This sounds like a lot but Team Sua has 45 years of experience working with first-time home buyers, we will guide you every step of the way! Our goal is to make this an easy and enjoyable process!
Seller Tip #4
Seller responsibilities at closing. Sellers are responsible for opening an escrow account where the funds will be kept during a transaction, managed by a third party. The perks of working with a real estate agent is that they will likely open the account for you. Here's a list of what will happen at closing: The seller will complete any repairs that you promised to make after the home inspection, submit property disclosures, review closing costs, sign documents, hand over the keys, and close the escrow. Having a knowledgeable real estate agent will make the closing possible easier for the seller.