Shopping
Once you send me one or two homes that you love, I will have an idea of your style. The budget and your home style helps me find the neighborhoods, communities and schools that best fit your needs. Whether you are an out-of-town client that needs a better understanding of the different areas or a native San Antonian, I take the time to educate so you can make an informed decision.
Now the fun begins!!! There is nothing more exciting then looking for your next home. BUT!!! I also realize that your time is very valuable. I set you up in a portal (ConnectMLS) that emails you matches for you home criteria. You have an opportunity to indicate your interest level and comment on each listing. I will also comment. If the home backs to power towers, busy streets, water towers, etc, I will indicate so in the comments. It is best to stay away from negatives that hurt resale, but the decision is yours. The list we see on the first day should be 5 to 6 homes that EXCITE you. As we are in the home, I will point out items that will be good or bad for resale. Again, the goal is to give you the education to help you make a decision.
Understanding the market will save you time and energy. One couple was working with another agent for three years before they enlisted my help. The husband emailed me his list of homes to see. All of the homes had been on the market for awhile. These homes were what I call “the dregs of the market”. My experience with the dregs is that no one wants them for a reason. I added to his list a home that was new on the market in a prestigious subdivision in a price they can afford. It was priced $40k under market because the agent didn’t know how to adjust comparables correctly. This couple fell in love with this home. They wrote a good offer immediately. They beat out two other offers for this home. Their previous agent had them three years. I was out with them for one day and found them their dream home. Experience matters.
Clearance shopping is one of my hobbies. I also apply the same bargain hunting experience to house shopping for my clients. I know the areas that will have the better prices. I know when the market softens. I know which price range gets you the best bargain. Experience matters.
Cash Needed To Purchase
Most buyers need a down payment (VA and USDA financing is the exceptions). Buyers will also need closing cost (sellers can help here). There are so many variables to this statement, it will be impossible to sum it up in a website section. This is a conversation that is best in person.
Foreclosures
I love foreclosures. I’ve purchased them for primary homes. I’ve purchased them as rental properties. I’ve purchased them as flips. Before and during the market crash, I helped many buyers navigate the unyielding foreclosure world. Right now foreclosures are few and far between in San Antonio’s market. Most aren’t worth the time because they are at market value. Those that are nicely priced have multiple offers from cash investors. Cash usually wins.
The foreclosure section of the major real estate websites is getting their information about foreclosures from a company that tracks courthouse filings of foreclosure notices. A courthouse filing is only the first step of a long process. In the process the home can be pulled out of foreclosure by the homeowner. It can also be purchased on the courthouse steps by a cash investor. Those few homes that make it past these steps are either given to online auction houses (large fees for the buyer) or are given to Realtors who prepare them for market. This last group are the foreclosures that won’t be listed as such in the major real estate websites. Since I’ve closed many foreclosures, I can tell which homes are really foreclosures. Experience matters.
Writing an Offer
There is no one way to write an offer. The nicely remodeled home that has been on the market one day needs your strongest offer. The home that has been on the market for three months without a price change may have room for a lower offer. I profile the home and the listing to give you clues on the best offer to present to the sellers. This offer will take into consideration the cash you may need from the seller to purchase this home. This is especially where experience matters.
There are some constants to writing an offer. The buyer needs 1% earnest money. The buyer needs usually $100 for a fee to have an inspection period (called the option period). The seller pays for title insurance. The seller will pay for a buyer home warranty. The survey cost is negotiable.