How NOT To Buy A House - 6 Important Rules For First-Time Buyers

first-time buyers in the Fremont market to be aware of six fundamental rules. You won't die if you violate any of these, but you may lose your ability to get the best price and terms for your new Fremont home. In addition to ending up with an abode to call your own, you want be confident you got the absolute best deal possible - especially in the current Fremont market place.

1.   DO NOT Get Emotionally Attached To Any Specific Property.

Savvy Fremont sellers are trying to engage your emotions. The minute your emotions get involved, you've lost your neutral negotiating position. And neutral is where you have to stay to be objective. Remember: this is probably the largest investment you will be making this year. You wouldn't dream of buying stocks or bonds because their prospectus comes in cute colors - don't buy a house that way either.

Keep in mind another simple fact. You've managed to successfully live your life to this point without any specific house. If the seller of a particular home won't work with you to negotiate a fair price, you WILL go on living. Believe me, there are LOTS of other houses out there right now.

2.   DO NOT Buy Based On Feelings.

When I have my preliminary meeting with first-time buyers, we compile a list of criteria that are important to them. Based on those criteria, I send them profiles that match. I don't know how many times I've been given a set of criteria, only to have the buyers select a home that doesn't even come close to the list. Later I hear them say things like, "What were we thinking?!" Good question. More often than not, you weren't (thinking). You were feeling.

Write down your needs, wants and desires. Prioritize, and then stick to the plan.

3.   DO NOT Telegraph Any Emotions To A Seller Or A Listing Agent.

The moment the other side sees that you're interested, or even worse, emotionally attached to the home, you've lost any edge you may have had. I've actually seen buyers walk into a home and, with the sellers or their agent present, start talking loudly about how they "love" the home. They've even told the homeowners that this is their "dream house" and they can't live without it. At that point, the sellers can start packing. And counting their windfall.

Once you've given out your thoughts or feelings for a specific property, there is NO way to dig yourself out of the hole you've created. You WILL NOT be able to negotiate a bargain. You may get a decent price, but the moment a seller or their agent knows you'll die without their house, poke yourself with a fork, cause you're done.

4.   DO NOT Chose Only ONE Property That You'd Be Willing To Buy.

Figure out WHY you are buying. You may be buying a home that will be a good place for you to start investing in real estate. The property you are purchasing may end up housing one or two children a few years down the road. Commute distance or proximity to public transportation may be key. To be honest, there are usually a number of properties that will work. So don't put all your eggs into one basket - pick three homes that will "work" and prioritize them. Write an offer on the one you like most. Instruct your realtor to tell the other side that this is your first option, but that you do have others waiting in the wings. This lets sellers know that you are negotiating from a neutral position.

5.   DO NOT Look Until You Have Been Pre-Approved.

Two reasons here. First, you'll never know your financial parameters until you've met with your Fremont lender. So DON'T EVEN START LOOKING until you've done your homework. You'll probably fall in love with homes outside your financial boundaries. This can lead to HUGE temptations and problems down the road.

Second, when you do find a home on which you wish to write an offer, you'll need to include a pre-approval letter. If you're buying an REO, banks often want to see a copy of your FICO scores as well. Have everything ready and in your Realtor's hands so they can act quickly. Nice Fremont homes that are properly priced have a habit of disappearing quickly, even in a down market.

6.   DO NOT Let Your Realtor Push You Into Buying A Specific Home.

Smart Fremont buyer's agents know that it's not their job to sell you a home. Instead, their responsibility is to facilitate the sale of the property YOU choose. They shouldn't pressure you to buy a home after you've only seen a few. After all, YOU will know when you've found a property that works for you. Your Fremont agent should also give you objective advice about the market based on real data. They shouldn't be giving you selective factoids hoping to force you into a quick choice so they can move on to their next client. Feel like you're getting pushed? You might need to choose another Realtor that's a better fit for you.

If you're following the rules above and you find a home you like, you won't need to hesitate. Have your Realtor run a comprehensive CMA, discuss the offer strategy you want to utilize and then go for it!

If you get the property, congratulations! If not, go on to number two. If you've done your homework, it will be a place you can call ...Home.

There is a lot of free information available to you about buying, selling, relocating, or investing in the Fremont real estate market. For complete information about the Fremont Ca real estate market including current Fremont homes for sale, property values, market conditions and more please visit the most complete website dedicated to everything Fremont real estate related www.ClydeBrownHomes.com.

If you or someone you know are in need of a competent and caring Fremont agent in or near Fremont Ca, I hope you will contact me. Clyde Brown Legacy Real Estate & Associates.