Congratulations on taking the first step towards achieving your goal of homeownership!

 
Whether you may know this or not, you have chosen a great time to achieve this goal. With interest rates at some of the lowest levels seen in decades, homeownership, even amidst escalating prices, remains an affordable reality for many people. In addition, the tax benefits, equity build-up and home value appreciation can offer one of the best investments available today.

 

That decision to buy a home is typically one of the most important and largest investments that you may ever make. Understandably, you're bound to have questions as you navigate through a process that has grown ever more legal and complicated. 

Buyer Tip #1:	Choosing A Real Estate Agent
Buyer Tip #2:	The Home Search
Buyer Tip #3:	The Choice
Buyer Tip #4:	The Move

Choosing A Real Estate Agent

With so many agents out there, how can you make an intelligent decision? Do you choose a friend, neighbor or coworker? Should you work with an agent at a large firm, a small firm, a franchise or an independent?

Or if you are relocating from out of town and don't know anyone in the area, how do you find the right firm and Realtor to represent your needs?

Whatever the situation is,

Look for ...

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The Search...

1. When I search for homes what should I be looking for the first time through?

At each home, pay close attention to these important considerations.

• Is there enough room for you now, and in the near future?
• Is the home's floor plan right for your family?
• Is there enough storage space?
• Will you have to replace the appliances, carpet, or mechanicals?
• Is the yard the size that you want?
• Are there enough bathrooms?
• Will your present furniture work in this home?

2. Is an older home as good a value as a new home?
It's a matter of personal preference. Both new and older homes offer distinct advantages, depending upon your unique taste and lifestyle. New homes generally have more space in the rooms where today's families do their living, like a family room or activity area. They're usually easier to maintain, too. However, many homes built years ago offer more total space for the money. Many people are charmed by the elegance of an older home but shy away because they're concerned about potential maintenance costs. Consider a home warranty to get the peace of mind you deserve. A good Home Warranty plan protects you against unexpected repairs on many home systems and appliances for a full year or more after you move in.

3. Do I need to bring anything along when I'm looking at homes?
Bring your own notebook and pen for note taking and a flashlight for seeing enclosed areas. Be prepared to "snoop around" a little. After all, you want to know as much as possible about the home you buy. Sellers understand that because their home is on the market, it will be looked over pretty thoroughly. When you find a home you may be interested in buying, make sure we ask the owner the following questions:

• How much money do you pay for monthly utilities?
• What features have you enjoyed most about living in this home?
• Are there defects or problem areas that need to be fixed?
• How old is the furnace and central air conditioning system?
• How old is the roof? Have you experienced any leaking?

4. What should I ask my Agent about each home that I look at?
As a rule of thumb, ask any questions you have about specific rooms, features or functions. If your agent doesn't know the answer, he/she will research and get back to you with the answer in a short period.

5. What should I tell my Agent about the homes I look at?
Tell me what you liked and didn't like about each home you saw. It is important for me to really get a feel for what you're looking for in a home in order to find your dream home. Don't be shy about talking about a home's shortcomings.

6. How many homes should I look at before I buy?
There is no set number of homes you should look at before you decide to make an offer on one. That's why providing me with as many details as possible up front is so helpful. The perfect home may be waiting for you on your first visit. Even if it isn't, the house-hunting process will help you get a feeling for the homes in the community and narrow your choices to a few homes that are worth a second look. You'll be one house closer to "your" home!

If you're looking in more than one community, try to make the most of each house-hunting trip. Stop by the local Chamber of Commerce to pick up promotional literature about the community or check out the community on it's local website. Also, be sure to take along a camera and snap some pictures of all the homes you like. That'll make it easier to remember.

7. What should I think about when I'm deciding which community I want to live in?
Good city services, nice parks and playground facilities, convenient shopping and transportation, a track record of sound development and good planning-these are just a few considerations that are important to many people when they choose a community in which to live.

8. Where can I get information about local schools?
Ask me!  I will research the local schools and can provide you with valuable information about school districts, including test scores, extracurricular activities, bus service and more.

9. How can I find out what homes are selling for in a given neighborhood?
Home sales are a matter of public record and can be found by researching tax records at the appropriate county court house.  However, a better and easier way for you to get this information is to ask me! If you're interested in a particular home, I will be able to provide you with a list of comparables - sale prices of homes in the area that are roughly the same size and age as the home you're considering. Although there will certainly be some differences between the homes - the house next door may have an extra bedroom, or the one down the block may be older than the one you're looking at - it's a good way to evaluate the seller's asking price.

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The Choice...

1. How do I determine the amount of my initial offer?
There is really no rule to use in calculating a realistic offer. Naturally, the buyer wants the best price and value and the seller wants the highest price, but negotiations can be influenced by many factors, such as a seller who may be changing jobs and wants to sell quickly, or a buyer who really wants a specific home.

After you've looked at the home's features, asked questions, checked comparables, and talked about it with your Realtor, you should have a good idea in your heart of what the home's value is in the current market. Consider what you can afford and make an offer.

Most buyers and sellers negotiate on price until both agree. When the price is agreed upon, the paperwork will be signed and initialed as needed by both parties. At that point, you typically will begin the process of arranging for home and wood destroying insect inspections.

2. I'd like to have a professional look at the home before I buy it. What does a home inspector do?
For your own safety, and to make sure you're getting your money's worth in the home you choose, using a professional home inspector is highly recommended. A home inspector will check a home's plumbing, heating and cooling, electrical systems, and look for structural problems, like a damp or leaky basement.

Usually, you call an inspector immediately after you have "an accepted sales agreement" on a home. However, before you sign any written purchase offer, make sure that it includes an inspection clause or other language which says that your purchase obligation is contingent on the findings of a professional home inspector. Exclusive Buyer Agent purchases offers automatically contain this important verbiage.

Your home cannot "pass" or "fail" an inspection, and your inspector will not tell you whether he or she thinks the home is worth the money you are offering. They are not there to address "value." The inspector's job is to make you aware of repairs that are recommended or necessary.

A seller may be willing to renegotiate a price reduction to accommodate needed repairs, or you may decide that the home will take too much work and money. A professional inspection will help you make a clear-headed decision. In addition to the overall inspection, you may wish to have separate tests conducted to check for termites, or the presence of radon gas or mold. Talk to us for information about these tests and companies in the area that perform them.

In choosing a home inspector, consider one that has been certified as a qualified and experienced member by a trade association such as the National Association of Home Inspectors or the American Society of Home Inspectors. I can refer you to at least three qualified inspectors for any given area.

3. Should I be present during the inspection?
Yes. It's not required, but it is very much to your advantage. You'll be able to clearly understand the inspection report, and know exactly which areas need attention. Plus, you can get answers to many questions, tips for maintenance, and a lot of general information that will help you when you move into your new home. Most important, you'll see the home through the eyes of an objective third party.

Remember, the purpose of a home inspection is to help you learn things about the home that are not easily discoverable during your home-buying tour. The home inspection is NOT INTENDED to be a "Laundry List" of cosmetic issues or very minor repairs for Sellers to repair or replace. It is not intended to be a "weasel" clause to get out!

4. Do I need to talk to my insurance agent?
Yes, and the sooner, the better. Most insurance professionals have a lot of experience in working with homeowners and can offer useful tips about home ownership, particularly regarding home safety and keeping your premiums low.

Once you've found a home, work together to develop a homeowner's policy that meets your individual insurance needs. You'll need to supply your pre-paid policy to your mortgage lender prior to closing.

5. What's "earnest money," and how much do I need?
When you sign an offer to purchase, the seller will expect the offer to include earnest money - that is, money that shows you are serious about wanting to buy. You will be asked to write a check for an amount, established by you. 3% to 5% of the offered price typically shows a seller you are sincere buyer. If your offer is accepted, your earnest money will be held in your agent's folder. Once all contractual contingences are released, the money will be deposited in a special non-interest bearing trust account. At closing it can be included as part of your down payment or returned to you. If your offer is not accepted, we'll simply hold the check if you like, uncashed. But keep in mind that if you back out after all contingencies have been removed; you will forfeit the full amount.

5. Is there any way I can protect myself against emergency repair bills in my new home?
Yes. Home warranties offer you protection against many potentially costly problems not covered by your homeowner's insurance. They've become increasingly popular in recent years, and for good reason: the coverage can save you thousands in the event of a major mechanical breakdown, at a time when your cash reserves may have been depleted by your down payment and moving expenses. Ask us whether a Home Warranty is offered when looking at homes. But remember, if it is not offered, feel free to ask for it when writing the offer to purchase. The Home Warranty will give you the peace of mind necessary to feel comfortable in your new home. In most cases, the warranty plan will cover appliances, hot water heater, air conditioning units, electrical systems, garage door openers, plumbing systems, heating systems, faucets, ceiling fans and water softeners. Check with us regarding the specifics of the Home Warranty plan! 

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The Move... 

1. If I'm moving a considerable distance, is there any way I can gather information before I start traveling?

Yes. COLDWELL BANKER is proud to be associated with CENDANT, the largest relocation company in the nation. Whether you're moving across town, across the nation, or around the world, we can help. Our Buyer Relocation Network is skilled in handling the special needs of families involved in the relocation process. They understand your needs, concerns, fears, anxieties and joys, but most of all, they know how to get you and your family from here to there with minimal stress and inconvenience.

2. HELP!  I need a name... 

Buying a home can be an overwhelming experience. A buyer often needs advice on locating services to help them before, during and after their move. That’s why the Coldwell Banker Concierge Service was created. The Concierge Service has a network of preferred service providers, exclusively for Coldwell Banker customers.

 

Here's a Sampling of Our Service Categories... Air Duct Cleaning Appraisers Basement/Foundation Carpet and Flooring Cellular and Automotive Chimney Inspection and Repair Cleaning Services Concrete, Stucco & Masonry Work Decks Electrical Estate & Household Sales Garage Door & Repair  General Contractor/Remodeler Glass Specialists  Handyman Services Heating & A/C Home Improvement Home Inspection Home Security Home Warranty  Household Liquidation Insurance Interior Design Lawn & Landscape Services Locksmith Mortgage Moving  Painting Pest Control/Deck Services  Plumbing Power Washing Radon Inspection & Removal Remodeling Retaining Wall Construction & Repair Roofing Structural Repair Termite Inspection Water Treatment Waterproofing Windows & Doors

How to Take Advantage of the Coldwell Banker Concierge Service To learn more about this exclusive service, just call Penny Kennedy, our Concierge Service Representative at 412-367-3050, ext. 398 or 1-800-526-1720  or click the link below.

  http://www.pittsburghmoves.com/concierge/concierge.aspx