Successful Mission Viejo Home Buyers Don’t Give Up!

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Successful Mission Viejo Home Buyers Don’t Give Up!

Successful Mission Viejo Home Buyers Don’t Give Up!

All Mission Viejo home buyers needs to know that there are three components to every home purchase in today’s resale real estate market.  And you can’t give up on any of them if your true goal is to be a successful Mission Viejo home buyer.  Every part of the home buying process will try your patience, test your resolve, add more stress to your already stressful life, and perhaps even test your relationships.  But if you work hard, talk things over with your team (your spouse or significant other, your parents, your kids, your Realtor, and your Lender are all a part of your team) you can do this, and create a happy ending.

The List of the Three Hardest Steps to Becoming a Successful Mission Viejo Home Buyer

  1. Finding the Right House for You – “Finding” is actually harder than you may imagine.  Finding requires searching, evaluating, researching, reading, and imagining.  All of which take your time and energy to look at photos and read the details on line to come up with a short list of viable candidates before you jump into your Realtor’s shiny clean large automobile to physically go see some homes in person.  You may love the photos, but hate the details – such as lot size, number of bathrooms, HOA dues, and Mello Roos and bond assessments.  That’s the “right” part of the first phase – it has to be the right house for you.  And much like beauty and books, it is in the eye of the beholder and often can’t be judged by its cover.  Find your top priorities, stick to them (or change them, that’s allowed!) and keep looking until you find the one.  Don’t give up.
  2. Negotiating the Purchase Price and Terms – Now that you’ve found the right house for you, you get to start the negotiations.  The seller (yes, behind most listings in today’s market there is a seller who’ll be receiving your offer) starts by listing the house for sale at a number they are fond of and hopeful about.  You have to decide what you are willing to pay, based on recent comparable sales in the area, the condition of the house, the location of the house, and any upgrades or significantly valuable attributes – like a pool or a view. And thus begins the negotiation.  Offer.  Counter Offer 1. Counter Offer 2.  Counter Offer 3.  Counter Offer 4.  It really doesn’t matter how many Counter Offers there are, don’t give up.  Be creative.  Often another $1000 is all that it may take to bridge the gap.  Try other terms like offering a rent back, doing the tenting for termites after the seller moves out, or offering a faster close of escrow.  Purchase price is not the only piece of the negotiation.  And there is no limit to the number of Counter Offers it may take to get the deal done.  Don’t give up.
  3. Negotiating the Repairs – Fast on the heels of making a deal to buy the house, you’ll have the home inspection and receive a report typically 38 to 75 pages in length with an average of 40 to 200 photos.  This tends to scare most people to death.  Don’t be scared.  Remember, we’re talking about used houses here.  And you paid the inspector to be as picky as possible.  And code standards do change over time.  Work with your Realtor to evaluate the contents of the report and come up with a reasonable request for the seller.  Changing tile counters into granite is not a reasonable request.  Repairing or replacing the non-functioning air conditioner is reasonable.  You make have to start with a list of 10 items to end up getting the seller to agree to 5.  And remember, requesting a credit in lieu of repairs is often a successful strategy.  It may take several rounds to reach agreement.  Don’t give up and you’ll be on your way to becoming a successful Mission Viejo home buyer.

I’m Leslie Eskildsen.  Keeping it Real in Mission Viejo Real Estate

949-678-3373.  Call.  Text. Email.

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