Whether you are interested in purchasing your first home or your 20th home, there are a number of things that you need to be familiar with. In today’s post, we’ll take a look at some of the most frequently asked questions and answers about buying a home.
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1. Can I buy a home and sell mine at the same time?
Yes, you can absolutely sell your home and purchase another simultaneously if that is something that’s important to you. It’s a good idea, however, to realize that this can be incredibly challenging and difficult to manage. If you were able to purchase your new home before selling the one you’re living in, then you will need to be prepared to manage two mortgages. On the other hand, if you sell your home before you find a new one, then you will need to secure a short-term rental or include a contingency clause in your contract. While a contingency clause can be the perfect solution for you, your buyer might not feel the same way, so it’s good to work closely with your Realtor®, as they can provide good advice.
2. How many homes should I see before I make an offer?
It doesn’t always happen, but sometimes you fall in love with the first home you see. If you don’t have time to look at hundreds of homes online or look for months on end, then try to focus on a particular neighborhood to make your search smaller and, hopefully, easier. When you’re looking for waterfront property in Oxnard, The Steve & Shauna Team will work with you to help you find exactly what you’re looking for.
3. How do I determine a fair offer on a home?
Generally speaking, you can submit an offer that is 5% less than the listed price without really bothering the seller. If the home has been on the market for a few months, you could try going lower, but you want to be careful to work with an experienced Realtor® in Oxnard who can provide the suggestions you need to secure the deal you want.
4. What makes a home a good deal?
When purchasing waterfront property, you need to consider a few things in order to determine if it is a good deal for you:
- Is the home in good condition?
- Is the property well-maintained?
- Does it have legal waterfront access?
- What are similar properties listed at?
- Have home values been increasing or decreasing?
Depending on the answers to these questions, you’ll be able to decide if it is truly the luxury home you want.
5. What if I change my mind?
If you change your mind in the middle of a real estate transaction, you might be able to back out of the deal, but if you lack a valid reason, then you should be prepared to forfeit your earnest money. In order to make sure that you can walk away with your earnest money, talk with a Realtor® at The Steve & Shauna Team. As your Top Rated Local® realty company in Oxnard, we can work to create contingencies that can protect you should you change your mind.
When you are looking for the perfect luxury oceanfront home, you want to know that you are not only finding the right home, but also getting the best deal. Let the experienced Realtors® at The Steve & Shauna Team provide the guidance, support, and advice you need to come home to your luxury home in Oxnard. Contact us today!