Before the offer to purchase is created, it is very important that you have been pre-approved by a lender. This is one of the best negotiating tools a buyer can have. It shows the seller that you are financially able to purchase the home. After you have found the right home, it is time to prepare the offer.
When you are buying a home, there are many problems that the seller is obligated to disclose. For example, in KY, it is illegal to withhold information about major physical defects on the property, but these disclosures don't always paint the entire picture of the home. Here are six questions you may want to ask that can offer additional insight about the prospective Louisville area home before you make a final decision.
1) Why is the seller selling the house? Is there something about the house the seller does not like?
2) How much did the seller pay for the home? This question can, in some instances, help the buyer negotiate a better deal. However, it is important to remember that the purchase price is influenced by several factors, like the current market value and any improvements the seller may have made to the home. The original purchase price might not have anything to do with the current value of the house.
3) Are there any nuisances or problem neighbors? Use this answer to find out about any noisy neighbors, barking dogs, heavy airplane traffic or even planned changes to the community, such as a planned street widening. This may give you insight on why the seller is really moving.
4) How are the public schools in the area? Because the value of a community is usually greatly influenced by the public schools in the area, finding out the buyer's perception can give you some insight about the quality of the area's schools.
Knowing all you can about a prospective home, not only helps you decide if it's the home of your dreams, but what offer to make as well. We will help you get your key questions answered and give you advice on how to evaluate your findings.
Once you have chosen the right property, we will thoroughly guide you through the offer and negotation process. Depending on the climate and area, it is extremely important you use a knowledgeable real estate professional. In some cases, it may be necessary to ask for a response to an offer in as little as two hours from the offers submission to ensure other offers don't get taken first! This is an agressive market. Make sure you have an agressive agent to represent you.