TIPS FOR BUYING YOUR DREAM HOME

What to expect in the buying process and how to move forward quickly

BY MOLLY MILROY

Purchasing a home can be a daunting experience and the current sellers housing market adds additional hurdles.

“I haven’t seen a market like this in 49 years,” said Frank Messina with Real Living Messina & Associates.

Multiple offers are being given within 24 to 48 hours of house listings. If you want to purchase a home, you must be ready.

“It’s not uncommon for a home to have six to eight offers on it and sell for $5,000 to $10,000 over the asking price,” Messina said.

Here are some tips and strategies to help you be ready to move forward quickly on purchasing a home.

The first thing one should do is to meet with a trusted realtor.

“You need someone who will take you through it step by step and explain the pluses and minuses of everything you are doing,” Messina said.

Having a realtor can make the home buying process less stressful and typically the realtor is paid from the seller’s commission, so you don’t need to consider that cost. Realtors also often know of properties coming on the market before the general public.

Next, have your finances in order. Work with a lender to get prequalified for a mortgage.

“Ask your real estate agent who will be the strongest lender,” Messina recommended. “Putting in an offer with a letter from a strong lender will make a difference.”

Becoming pre-qualified will also help you to determine your budget and help you decide if you may be able to put an offer in for more than the asking price.

On The Cover

Lastly, be sure a home inspection is in the contract. You don’t want to purchase your dream home only to find out there are major issues after moving in. However, Messina explains that many buyers are putting in offers without asking for a home inspection and these offers are being accepted over conventional ones.

“This can be dangerous and it’s not recommended,” Messina said, even if it means not getting the house.

Although homes are selling quickly, finding the right realtor, one who can help you through the process, can make all of the difference. Meet with several to find the right fit for you. If you put an offer in and it gets rejected, don’t give up, because the home of your dreams could be around the next corner. The market today is exciting, dynamic, and fluid.

Molly Milroy is a Duluth freelance writer.