1. Don’t Get “Pre-Qualified!
Do you want to get the best house you can for the least amount of money when buying a home in Folsom, CA? Then make sure you are in the strongest negotiating position possible. Price is only one bargaining chip in the negotiations, and not necessarily the most important one. Often other terms, such as the strength of the buyer or the length of escrow, are critical to a seller.
In years past, we always recommended that buyers get “pre-qualified” by a lender. This means that you spend a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you “pre-qualified” and issues a certificate that you can show to a seller. When dealing with certificates that hold no value, sellers are becoming more wise, so let me explain why! None of the information has been verified! Oftentimes-unknown problems surface! Some of the problems I’ve seen include recorded judgments, child support payments due, glitches on the credit report due to any number of reasons both accurately and inaccurately, down payments that have not been in the clients’ bank account long enough, etc.
When you're "Pre-approved," your offer is seen as coming from a stronger starting position. This occurs following the verification of all of the details. You are actually APPROVED for the loan and the only loose end is the appraisal on the property. Depending on the circumstances, the entire process can take anywhere from just a few minutes to a few days. It’s VERY POWERFUL and a weapon we recommend all our clients have in their negotiating arsenal.
Since you are currently renting a home and don’t have a home to sell you may be at an advantage when competing with other buyers because many buyers must sell their current home before they are able to get financing for another. Two. Play the Game of Nines
2. List of 9 Things
Before house hunting in the Folsom, CA market, develop a list of about 9 items you want in your new home. Think of nine things you don't want in a house, then write them down. I call this “NINE OF THIS AND NONE OF THAT”. You may utilize this list like a scoring guide in order to rank all the properties you check out. The one with the biggest score wins! This will help to prevent any misunderstanding and maintain a sense of perspective while making comparisons of many homes. When house hunting in the Folsom, CA, consider the contrast between something called "SKIN AND BONES". The BONES are things that cannot be changed such as the location, view, size of lot, noise in the area, school district, and floor plan. Easily changed surface finishes like carpet, wallpaper, color, and window coverings,the SKIN represents. Buy the house with good BONES, because the SKIN can always be changed to match your tastes. Think of the house you are viewing as empty, without furniture. Consider each house on its underlying merits, not the seller’s decorating skills.
3. Don’t Be Pushed Into Any House
Your agent should show you everything available that meets your requirements. Don’t make a decision on a house until you feel that you’ve seen enough to pick the best one. Go to the Multiple Listing computer with your agent to make sure that you are getting a COMPLETE list of homes for sale in Folsom, CA and not just the home that the agent "wants" to show you.
In the late 1980’s, homes in Folsom, CA were selling quickly, usually within a few days of listing. In that kind of market, agents advised their clients to make an offer ON THE SPOT if they liked the house. That was good advice at the time. Today there isn’t always this urgency, unless a home is drastically under priced, and you’ll know if it is. But keep in mind, if you wait to long there is always a chance of the house selling before you get your offer to the seller. If you really like a house, get an offer written and make sure your agent writes in the proper clauses to get you out of the offer.
4. School Information
Don’t forget to check into the SCHOOL DISTRICTS of the area you’re considering. For more information about schools in the Folsom, CA market you can go to my website found at www.krisannefalla.com. Information is available on every school; such as class sizes, % of students that go on to college, SAT scores, etc.
Take care - the agents in Folsom, CA market create ads solely to make the phone ring! Many of the homes have some drawback that’s not mentioned in the ad, such as traffic noise, power lines, or litigation in the community. What’s not mentioned in the ad is usually more important than what is. For this reason, we want you to be very careful when reading ads. Remember that the person writing the ad is representing the seller and not you in most cases!
The essential thing for you is to have someone on your side looking out for you. Your own agent will critique the property with an eye towards how well it meets your needs and will point out any drawbacks you should know about. So whether you decide to work with us or not, pick an agent you feel comfortable with and enlist the services of that agent as a buyer’s broker. Then you become a client with all the rights, benefits, and privileges created by this agency relationship, and you’re no longer just a shopper. Did you know that many homes are sold WITHOUT A SIGN ever going up or an AD EVER BEING PUT IN THE PAPER? These “great deals” go to those people who are committed to working with one agent. Question: When an agent hears of a great buy, who do you think he’s going to call? His client, who he has a legal obligation to work hard for, or someone who just called on the phone and said “keep your eyes open”. So, to get the best buy on a property in the Folsom, CA our highest recommendation is find yourself an agent you're comfortable with and stick with him or her for all your real estate market needs.
There is a lot of free information available to you about buying, selling or investing in Folsom, CA property. To obtain full details about the Folsom, CA real estate market including current homes for sale, property values and more, please visit the most complete website online dedicated to everything Folsom, CA real estate. I would be happy to answer any questions about when you contact me. Call me on my cell at 916-308-8417 or email me at krisannefalla@gmail.com.
For more information regarding the Folsom Real Estate, Sacramento Area Real Estate, or surrounding communities, please visit www.krisannefalla.com.
