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      Blog :: 07-2017

      5 Essentials When Buying Real Estate

      Problems and misunderstandings in the buying process lead to unhappy homeowners. A common one is buying close to their pre-approval and then they are stretched financially. It may seem like a great purchase at the time but will lead to frustration over time.   How do we limit these mistakes?

      Homebuyers remember these five strategies when making your next real estate purchase.

      #1 Stay Consistent: Real estate values tend to rise over time. If you give up on looking at properties, you will never find the home you are looking for. The key is to learn why you are losing out on your offers.

      #2 Be Creative: Personalize your offer. A video or letter will be unique and may draw attention to your offer. It will stand out from the others. Make the video short and entertaining or the letter short and sweet. Your agent can use this to introduce your offer to purchase.

      #3 Location: As months pass when you continue to look, the market may change. You may need to look in nearby towns and explore other options.

      #4: Rely on Documents Not Verbal: Written documentation is very important in real estate. If the seller says they will leave a refrigerator, make sure it is documented. Read through your offer letters and purchase and sale. Read through the clauses and make sure you understand what they are saying. Speak with your lawyer if unsure about a clause or phrase.

      #5 After Offer Accepted. The Real Work Begins: After accepted, the house is still the sellers until close. This can be between 30-60 days on average. The seller is responsible for insuring the property and keeping it in condition when the offer was accepted. You can schedule an inspection and renegotiate will the seller. You will review the purchase and sale. You will need a financing commitment from your lender.

      Hopefully, these 5 essential tips are helpful! Until you get the keys, the process is not officially over. If you found this article helpful, please share with a friend!

      Blog courtesy of Steve Bracero

       

      Your Opportunity to Achieve the American Dream Keeps Getting Better!

      Your Opportunity to Achieve the American Dream Keeps Getting Better! | MyKCM

      Forbes.com recently released the latest results of their American Dream Index, in which they measure “the prosperity of the middle class, and…examine which states best support the American Dream.”

      The monthly index measures several different economic factors, including goods-producing employment, personal and commercial bankruptcies, building permits, startup activity, unemployment insurance claims, labor force participation, and layoffs.

      The national index score was rounded out to 100.0 in January as a baseline for comparison and it rose the fourth straight month in a row to 101.8.

      Alaska, coming in at 89.4, represented the lowest score on the index due in part to the recent collapse in oil prices. In contrast, Wyoming came in with the highest score at 115.1. The full results can be seen in the map below.

      Your Opportunity to Achieve the American Dream Keeps Getting Better! | MyKCM

      Forbes Senior Editor Kurt Badenhausen explained why many states saw a boost in the index last month:

      “The American Dream Index rose for the fourth straight month to 101.8 propelled by gains in goods-producing jobs and building permits, as well as declines in unemployment claims and mass layoffs.

      Goods-producing jobs (manufacturing, mining, construction and agriculture) were up for the ninth straight month in May…Building permits rose for the fourth straight month compared to the prior year.”

      Bottom Line

      The American Dream, for many, includes being able to own a home of one’s own. With the economy improving in many areas of the country, that dream can finally become a reality.

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