Do You Have What It Takes To Be A New Home Buyer?Apr 12 2012
What's the most valuable thing you can have as a home buyer? Patience. Surprised? You shouldn't be; patience can help you out throughout the entire home buying process.
Here are three examples of when patience will be your key to home buying success:
1. It can seem like the houses with the best deals keep getting snapped up quicker than you can even decide if it's a house you'd like to make an offer on. That's because investors tend to buy foreclosure listings quickly – but they don't plan on making them their home.
Home buyers need time and patience to decide on the home they want to live in. That's why you should be patient and put in the necessary time to learn the community you wish to live, helping you learn about the type of homes that are available.
2. Once you find a home, continue to keep patience in mind as you make an offer. As you try to make deals with the seller, your offer may be declined and you'll be back looking for homes. But keep that home in mind; if it sit on the market after your initial offer has been declined, approach the seller again a few months later with the same offer, but with, perhaps, better terms and you may see a change in heart!
TIP: Don't waste your time with sellers who have no strong motivation for selling. Without a strong motivation, the above most likely won't happen.
3. Lastly, you should definitely have patience during your contract negotiation and closing. While every transaction is unique, it is very common for glitches to appear during this stage, such as an unexpectedly low appraisal, which could possibly leave you back at square one.
For more things that could hold up your home purchase, check out this article from Inman News.