Dan Pick Real Estate

Tips for Buying a Home

• Prioritize what you want in a home, and discuss your list with your buyer's agent.

• Realize that there are no "perfect" homes. Be realistic.

• Get pre-approved. When your financing plan is prepared before you look, you can act quickly once you find the home you want. Your buyer's agent can help you prepare.

• Based on your pre-approved financing plan, decide on a price range.

• Establish a time frame for finding a home and closing the sale. This helps you stay focused.

• Beware of so-called "bargain" homes that may be reduced from extravagant overpricing. Your buyer's agent can guide you around pitfalls.

• Discuss each home as you go along, explaining your likes and dislikes to your buyer's agent.

• Beware of "well-intentioned advice" - from relatives, friends, etc. - that can distract you from what you truly want.

• Some listings will be genuine good values at the listed price. Be ready to act.

• Some listings will be overpriced. You have to decide if you wish to make an offer at a lower price.

• If you do make a lower offer, remember that the seller might be angered and then refuse to negotiate seriously with you. Experience is invaluable in property negotiations - get help from your buyer's agent.

• When you find the "right house," be ready to act quickly. "Thinking it over overnight" might mean losing it to the buyer who thought about it yesterday.

• If you need approval to buy from someone else (parent, boss, banker, etc.), ask these people to do preliminary looking with you. It will save time.

• Decide if you want a warranty on the property. Discuss with your buyer's agent.

• If you need expert advice, we recommend the use of real estate appraisers, structural engineers and property inspectors - they are qualified, unbiased professionals.

• It's normal to experience "buyer's remorse" a few days after signing a contract. If you've done your homework and talked openly, that "remorse" will be short-lived.

• Discuss in detail the closing process, making sure you understand your obligations. If in doubt, ask your buyer's agent for help.

• When making an offer, have it contingent upon a satisfactory home inspection.

• If you have any other questions on buying home, give me a call. I'll be happy to help.

What Do All of Those Real Estate Acronyms in the Ads Mean?

If you find yourself stumbling over weird acronyms in a real estate listing, don't be alarmed. There is method to the madness of this shorthand (which is mostly adopted by sellers to save money in advertising charges). Here are some abbreviations and the meaning of each, taken from a recent newspaper classified section:
* assum. fin. - assumable financing
* dk - deck
* gar - garage (garden is usually abbreviated "gard")
* expansion pot'l - may be extra space on the lot, or possibly vertical potential for a top floor or room addition. Verify actual potential by checking local zoning restrictions prior to purchase.
* fab pentrm - fabulous pentroom, a room on top, underneath the roof, that sometimes has views
* FDR - formal dining room (not the former president)
* frplc, fplc, FP - fireplace
* grmet kit - gourmet kitchen
* HDW, HWF, Hdwd - hardwood floors
* hi ceils - high ceilings
* In-law potential - potential for a separate apartment. Sometimes, local zoning codes restrict rentals of such units so be sure the conversion is legal first.
* large E-2 plan - this is one of several floor plans available in a specific building
* lsd pkg. - leased parking area, may come with an additional cost
* lo dues - find out just how low these homeowner's dues are, and in comparison to what?
* nr bst schls - near the best schools
* pvt - private
* pwdr rm - powder room, or half-bath
* upr - upper floor
* vw, vu, vws, vus - view(s)
* Wow! - better check this one out.

Resources:
* "Real Estate's Ambiguous Language You Oughtta Understand," Glennon H. Neubauer, Ethos Group Publishing, Diamond Bar, CA; 1993.

 

What do I need to do to get a loan?
(click on link to see the steps)

 

Properties for Sale | Tips for Selling Your Home | Tips for Buying a Home
Community Information | Schools in Remsen | Home

215 Jefferson St., Remsen, Iowa 51050
(712) 786-1417 Fax: (712) 786-1456

dcpick@yahoo.com

Equal Housing Lender