Even smart people make common real estate and home buying mistakes. Here’s how to avoid them in your San Diego real estate search.
Kick some San Diego County real estate tires
1. Shop and Compare San Diego homes.
Walk through several MLS listed San Diego county real estate for sale and homes that are for sale in your price range. Make sure these properties are located in the area within San Diego County you want to live. By reviewing multiple MLS listed for sale homes and real estate in the San Diego market you will be better prepared to recognize overpriced homes and real estate and obtain the confidence to know a good home value when you see it.
Get help from a San Diego County real estate
2. “Pick the brain” of a smart San Diego County Realtor.
All Realtors are not created equal. If a Realtor does a lot of self-promotion, that does not mean they have the most real estate experience and are respected by their peers. If you are a Buyer in the hot San Diego County MLS market, presenting a home offer through a top San Diego County Realtor gets your offer noticed and taken seriously. Top San Diego Realtors know the real estate sales process, all about real estate financing, how to remedy inspection issues and are expert real estate negotiators. Great Realtors will get you the home in San Diego you what. Great Realtors know the pros and cons of homes in there city and market area and may even know about homes not yet available in the San Diego MLS but that will be soon. Ask San Diego Real Estate Agent to recommend the best Realtor in your town.
A mortgage will make your San Diego real estate purchase happen.
3. Get pre-qualified for a mortgage.
Get over financial hurdles before you put in a home purchase offer for your San Diego home. Find a good mortgage professional and go over what you can afford. A good lender will give you a pre-qualification letter even before you find the home you want. There is nothing worse than finding a home and losing it, or worse, losing your deposit because you can’t close the deal. Get a mortgage application.
Budget for all your life needs
4. Don’t over mortgage yourself with your San Diego real estate purchase.
There are so many mortgage products, you may be tempted or advised to borrow as much as you can fro your San Diego home. But be warned – there is nothing worse than getting in over your head. Make sure you can afford to live comfortably in your home, put money aside for your children, and have cash on hand to pay for unexpected events. Don’t assume your San Diego home value will keep appreciating at the same rate it has over the past 3 years. Do assume your home carrying costs will rise! Your annual San Diegol real estate taxes and homeowners insurance rates will most likely rise each year. If you have an adjustable rate mortgage, your monthly mortgage payments will eventually go up. Housing markets eventually cool, but your payments never stop – be prepared!
The Agreement of Sale is key
5. Put all the details of your San Diego home purchase in the Agreement of Sale.
The Agreement of Sale spells out the timing, terms and dollar amount of the real estate transaction. Don’t take anything for granted, or rely on promises from the Seller or their real estate agent. Have your San Diego Realtor put all conditions of the home sale into writing, and get the seller’s written approval for any modifications or amendments to the Real Estate Agreement of Sale.
6. Use a professional Home inspector.
Make sure all electric, gas water and other utilities remain connected so you can inspect the home in working order. Get a qualified home inspector to do a review of the house and prepare a written report for you. Go over the report with the inspector and your agent. Agreements of Sale usually allow a few days to bring any serious defects to the attention of the Seller – so a resolution can be attempted.
Final Home Check
7. Do a final house assessment.
After the Seller moves everything out of the house, take a walk through the house a day or two prior to settlement. Make sure the home is ready to be transferred in good shape as outlined in the Real Estate Agreement of Sale. This will be your last chance to ensure everything in the house is in working order prior to settlement.
Let your San Diego real estate team show you their best stuff
8. Be open about your timing, financial condition, and lifestyle needs.
A good San Diego Realtor is trained to find solutions to fit your needs – in ways you may have not yet considered. You may say you want a house on a San Diego golf course, but your retired spouse may feel more secure in a low maintenance gated condo community where you can play several of the San Diego regions courses with less carrying costs. A good Realtor can take the information you give them, and translate that into unique property solutions.
Be Flexible with you San Diego real estate search
9. Try to relax.
From negotiations to closing and moving dates, focus on getting the deal done, not winning every battle. Delays and complications are part of most real estate deals, as both you and the Seller are completing a very time consuming, expensive and sometimes emotional transaction. Most issues are resolvable. If you’ve done your homework, have a great Realtor and mortgage team, you can be confident you will get a good deal and avoid mistakes.
Our San Diego County real estate experience can help you avoid mistakes in the home buying process.
We believe it’s important to pick the best real estate professionals off the bat.
When you start your search with Smarter Agent, you can call or email us with any questions from your first internet search straight through to your actual closing and beyond!
Get savvy, try SmarterAgent. Smarter Agent –San Diego will save you a lot of time and help you get the best deal with the least hassles and at the best price.