Today, the rate of interest is quite low and also homes are available at low prices, hence it is the right time to invest in property. Whether you are a seller or a buyer, following are the important tips that will help you to successful deal in the present market.
Tips for the sellers
- You must improve the aesthetics of your house, so that it looks attractive to potential buyers. If the paintings are old then get your house painted, which may cost you little but it is worth.
- You must advertise about your property with either the real estate agent or FSBO. In case, you are not in great hurry then you must advertise in the classified websites dealing with real estate, so that you can save lots of money, which you need to pay the property agents.
- You must quote your price keeping in view the present market condition. If you think, by quoting higher price, you can negotiate during the closing time then you are wrong because people will skip your advertisement. Also, if you drop the price after some time in the advertisement, then it will create doubt in the mind of the buyer.
- You must keep all the fittings and furniture’s of the home in top condition. In case, your carpet needs immediate replacement then do it so without wasting any time. Your buyers may immediately turn off, if they find the furniture and fitting in shabby condition.
- If there is plenty of time given by the buyer to close the deal then you should not ignore the offer. In case, you are in need of immediate money then there are plenty of mortgage companies available, who will provide you bridge financing. If you are sure, that the buyer is ready to purchase then you can contact the lender.
Tips for the buyers
- Since the present conditions are ideal for home buying, look for big house instead of a small apartment or condo. Now, the interest rates are pretty low and the economic recoveries is also in sight, hence grab this opportunity.
- While choosing your home location you must make sure that the place where all the necessary avenues are easily available. In future, if you want to sell your house then you can get better price, if it is located in a well-connected place.
- While looking for loan talk to a number of mortgage companies and look for the best deal. You must make sure that you are well within your budget limit. Before closing your deal, you must decide your target maximum price and should not exceed that.
- It is not necessary that you must buy the property within the city. You should rather look for well known locations, where you can comfortably stay with your family without any problem.
- You must check your credit rating before entering into any kind of negotiation with the seller or meeting with any broker. You should not get unwanted surprises at a later stage.