When you go to buy a house, you can go down the traditional route of finding a realtor and looking at what listings they have featured. Or, you can go house hunting on your own and set up each showing directly with the property owner. There are also home shoppers that want to know the details on every single property that is listed, so they find homes for sale using all available means. Really, and truly, the best way to shop for new residential property is completely dependent on your personal taste.
If you enjoy being able to open up your email account and browse through the latest home listings, you may want to venture off on your own. Other shoppers are more concerned with convenience. And lastly, there are those who just want to get the lowest listing prices. Here are the ins and outs of shopping for your new residential property and the most important aspects that you should always keep in mind.
Foreclosures and Short Sale Listings
While you are on your journey to find homes for sale, you are going to run into homes that have been foreclosed upon or are soon to be auctioned if they aren’t successfully sold in the open market. These types of homes can be a great find for bargain shoppers, but they also come with a few things that you need to be aware of. These homes are more likely to need both cosmetic and structural work, and there could also be property liens attached to them. The good news is that they’re usually still a good deal if you intend on fixing them up and using them as your primary residence.
Featured Real Estate Agent Properties
If you want to be able to look at residential properties, make an offer and then go to closing quickly, homes that are featured by real estate agents are a good choice. Everyone involved in the sale of these kinds of properties has an incentive to close fast, and there are few rough spots that need to be smoothed out. In other words, if you have been approved for a mortgage and have enough money to make a reasonable offer, the homeowner will not want to delay things.
Homes Listed for Sale By Owner
Just like there are many property shoppers that would rather fly solo, there are also homeowners that want to manage the sale of their residential properties. Some don’t want to pay realtors while others are only open to cash offers. You will still be best served by having an appraisal, being represented by a real estate lawyer and negotiating for a fair price, but properties being sold by the homeowner are also worth being considered.
Whether you believe that you need to be guided through the home buying process or think that you have what it takes to make a major purchase without any help, realize that there is a lot of flexibility when it comes to buying a house. You can talk to realtors free of charge to get a better perspective and take a tour of houses that are listed for short sale without obligation. When you see a home that is a good fit for you, it probably won’t matter how you found it.