I. Don’t Get “Pre-Qualified!

Do you want to get the best house you can for the least amount of money when buying a home in Charlottesville Virginia? Then make sure you are in the strongest negotiating position possible. Price is only one bargaining chip in the negotiations, and not necessarily the most important one. Buyer strength and length oftime 'till closing are usually critical to sellers.

In years past, we always recommended that buyers get “pre-qualified” by a lender. This means that you spend a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you “pre-qualified” and issues a certificate that you can show to a seller. When dealing with certificates that hold no value, sellers are becoming more wise, so let me explain why! None of the information has been verified! Oftentimes-unknown problems surface! Some of the problems I’ve seen include recorded judgments, child support payments due, glitches on the credit report due to any number of reasons both accurately and inaccurately, down payments that have not been in the clients’ bank account long enough, etc.

When you're "pre-approved," your offer is seen as coming from a stronger starting position. This occurs following the verification of all of the details. You are actually APPROVED for the loan and the only loose end is the appraisal on the property. Depending on the circumstances, the entire process can take anywhere from just a few minutes to a few days. Something we strongly suggest for all of our 1st Time Homebuyer clients to have.

Since you are currently renting a home and don’t have a home to sell you may be at an advantage when competing with other buyers because many buyers must sell their current home before they are able to get financing for another.

2. Play the Game of Nines

Before house hunting in the Charlottesville Virginia market, develop a list of about 9 items you want in your new location Then make a list of the nine things you don’t want. I call this “NINE OF THIS AND NONE OF THAT”. You may utilize this list like a scoring guide in order to rank all the properties you check out. The highest final rating is the winner! This will help to prevent any misunderstanding and maintain a sense of perspective while making comparisons of many homes. When house hunting in the Charlottesville Virginia, consider the contrast between something called "SKIN AND BONES". The BONES are things that cannot be changed such as the location, view, size of lot, noise in the area, school district, and floor plan. The SKIN represents easily changed surface finishes like carpet, wallpaper, color, and window coverings. Buy the house with good BONES, because the SKIN can always be changed to match your tastes. Think of the house you are viewing as empty, without furniture. Consider each house on its underlying merits, not the seller’s decorating skills.

3. Don’t Be Pushed Into Any House

As a 1st Time Homebuyer, your agent should show you everything available that meets your requirements. You should not make a decision on a house until you have seen enough to pick the best one. Your agent may not provide the complete list of homes for sale. By sitting with him at the Multiple Listing computer you can ensure for yourself that he will (not just the home that the agent "wants" to show you).

In the late 1980’s, homes in Charlottesville Virginia were selling quickly, usually a few days after listing. In this type of market, agents recommended that their customers place an offer instantly if they were interested in the home. That was good advice at the time. Today there isn’t always this urgency, unless a home is drastically under priced, and you’ll know if it is. Remember the dangers of waiting too long; the property could be sold before your bid arrives. If you really like a house, get an offer written and make sure your agent writes in the proper clauses to get you out of the offer.

Here's a link to an interesting article from About.com called "What Kind Of Questions Should I Ask Before Buying A Home?"

Don’t forget to check into the SCHOOL DISTRICTS of the area you’re considering. For more information about schools in the Charlottesville Virginia market you can visit my website at http://www.CharlottesvilleHomeSellingTeam.com. Information is available on every school; such as class sizes, % of students that go on to college, SAT scores, etc.

D. Stop Calling Ads!

Take care - the agents in Charlottesville Virginia make the phone ring by creating ads. Many of the homes have some drawback that’s not mentioned in the ad, such as traffic noise, power lines, or litigation in the community. What’s not mentioned in the ad is usually more important than what is.

This is why we think it prudent for you to take great care when going over advertisements.  Remember that the person writing the ad is representing the seller. The most important thing you can do is have someone on your side looking out for your best interests.

Your own agent will critique the property with an eye towards how well it meets your needs and will point out any drawbacks you should know about. So whether you decide to work with us or not, pick an agent you feel comfortable with and enlist the services of that agent as a buyer’s broker. Then you become a client with all the rights, benefits, and privileges created by this agency relationship, and you’re no longer just a shopper.

Did you know that many homes are sold WITHOUT A SIGN ever going up or an AD EVER BEING PUT IN THE PAPER??

These “great deals” go to those people who are committed to working with one agent.  When an agent hears of a great buy, who do you think he’s going to call?  His client, who he has a legal obligation to work hard for you, or someone who just called on the phone and said “keep your eyes open? 

To get the most bang for your buck when buying property in the Charlottesville Virginia, our highest recommendation isto  find yourself an agent you're comfortable with and stick with him or her for all your real estate market needs.

A plethora of data on the subject of selling, buying or investments is out there at no cost. Charlottesville Virginia property For complete information about the Charlottesville Virginia real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Charlottesville Virginia real estate. I would be happy to answer any questions about your mortgage when you contact me.

Sponsored by: Charlottesville 1st Time Homebuyer  and

Fulton W. Gaylord--Assoc Broker, SRES, ABR, e-Pro
Authorized HUD Representative, Certified REO Specialist
Keller Williams Realty
1885 Seminole Trail, Suite 100
Charlottesville  VA  22901
434-220-2228

Fulton@KW.com

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