Buying a home can be a very exciting time, but the process can be very complicated. One thing that often gets in the way is finances, with potential buyers looking to buy a home that is within their budget. While foreclosures are an option, first time buyers are not eager to move into a house that immediately needs to be repaired. That's why buyers often look for homes that will give them a great value. Here are some tips for finding that home.
Do Not Neglect Mishandled Listing
With there being so many homes up for sale, it can often feel overwhelming when you actually get down to searching. Many buyers set their own criteria to instantly eliminate homes from their searches, typically focusing on those that have good listing so that they know what they are getting into before they even see the house.
If you want a home that is a great deal, do not ignore those listings that were mishandled, which include omitting things such as pictures of the home. If others are skipping over these listings, you may find yourself making an offer on a home that nobody has shown interest in. This means you won't have multiple offers to contend with and can make an offer that is below list price.
It may take some time to investigate homes that you cannot easily find a photo of, but it could result in getting a deal on a home when you finally find one you want.
Do Not Neglect FSBO
There are many homes for sale that are not listed on the multiple listing service (MLS), which are often homes that are for sale by owner (FSBO). These are homes that are being sold by their owner without the help of a real estate agent. Because they are not paying the agent a commission, the sales price tends to be lower than a home that is sold by an agent. On average, FSBO homes sold for $210,000 compared to $249,000 for homes sold by an agent. That's more than 15% less than what you would otherwise pay.
Make an effort to check out these homes being sold directly by the owners and see what kind of deal you can get. These are often advertised by simply having a sign in front of their yard, but you'll also need to search classified ads, open house listings, and websites designed to specifically target homes that are FSBO listings.
For more help trying to find a good deal on your next home, work closely with a real estate agent from an agency like Homestead Land Co that can help you find what you're looking for.Share