Nov. 29, 2018
What You Ought to Know About Buying a Home
1. You need your own Realtor. It is silly to look for homes and then look at those homes only with the Realtor who has their sign in the yard. That Realtor represents the home owner, so you will not get an unbiased opinion of what the home is worth. You need someone who will make sure your best interests are taken care of. I know it sounds fishy for a Realtor to tell you that you need a Realtor, but I have seen too many home owners who were taken advantage of when they purchased their home without their own Realtor.
2. You don't have to have a 20% down payment. Most people think they need to have more money saved up for a down payment than they really do need. If you are willing to live in a bit more of a rural area, you can get a 100% loan. Veterans also get 100% loans. If you want to live closer to town, you can get a loan with a 3.5% down payment with an FHA loan or for as low as a 5% down payment with a Conventional loan.
3. You need a good/local lender. You want a lender whose office you can walk into and who you can get on the phone. You don't want to be calling your lender or be calling a loan servicing depart several states away when you are trying to get a loan on a house completed. You also need that lender to be local, so they'll have a good list of appraisers for the property. Some lenders call appraiser who are an hour away with no market knowledge of the property you are buying. It creates unnecessary problems with your loan. Lastly, you need your lender to be good enough that he/she will send all of the paperwork to the underwriter to avoid delays.
4. You don't want a large real estate team. You don't want to look for a home with an agent, build trust in them, negotiate a sales contract with them, and then be passed along to someone else on the team to guide you through the remaining details of the transaction. That's like the professional handing you off to an unlicensed amateur. You deserve more than that, so be sure to get more than that out of your Realtor. Many buyer's agents on large real estate teams are less experienced and are still learning the ropes. Opt for an experienced Realtor to help you and a Realtor with history in Chattanooga.
5. You need to know your options. You need a Realtor who will give you all of the options and then let you make your own decision. You don't want a Realtor who is trying to push you into a sale as fast as they can in order to get a paycheck. Get a Realtor who cares about what's best for you.
6. You need the kind of personalized care that Nathan Walldorf of The Group Real Estate Brokerage will give you. Give Nathan a call at 423-544-7700. He would be happy to help you buy the best home for you at the best price and best terms for you. Get the best in Chattanooga real estate. The Walldorfs have been serving Chattanooga since 1926, so we know the business and the city.