Homes are selling quickly. Be ready to make an offer!

Homes in Lexington are selling quickly.  The last two homes we listed had offer the first 24 hours.  If you are a buyer it is wise to meet with your buyer’s agent and make a plan that will allow you to really know what you want and then to strategically plan to find that home.

Just a few suggestions.

Have a long conversation with your agent and all the significant decision makers to really find out what is most important in buying a home.  Don’t make any assumptions.  Assuming will always cause delays and often heartache.

Before viewing a home count the maintenance costs.  If the home has an old furnace, an old air conditioner and an old roof you need to figure out how that is going to be taken care of before the purchase.  Have your buyer agent call the listing agent and find out if the owner is able to make any of the upgrades before closing.  It may be that if you offer the right price the owner would be willing to make the repairs.

Look into the possibility of a renovation loan. I know that Wells Fargo does renovation loans and I suspect other lenders do also.  These loans allow you to finance the needed upgrades and repairs.

Drive around he neighborhoods you will be visiting and make sure you really want to live in that neighborhood.  Sometimes you can get a certain feel for how you really like the neighborhood by just driving through slowly and observing the people.  Do you see any neighbors talking together in their yards?  Are there children in the neighborhood that are playing together?

When you are ready to buy and find that “perfect home” be ready to make an offer.  Make sure you have a pre approval letter and you really do want to live there. 

Good luck buying your first home!

 

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