Congratulations! Planning to purchase your first or any number is always an exciting occasion. Here some tips and tricks before your start looking around…
We Are the Expert to Help You Out
We, Constellation Development Services, as the Real Estate Company, always has the best interest for both the seller as well the buyer. That is why we like to take fair enough time to walk through with our client all the steps that needs to be taken. Feel free to ask us any questions during the purchase process.
First Step: Found Out Your Spending Budget
Shopping for a property whether is land or house, always find out first what is your budget. The most common way it to go to your financial institution (Bank or Credit Union) and talk to the Loan Officer what your spending limit is. They will look into your assets, your financial situation and will give you an advise accordingly.
Step Two: Your Invitation to View the Property
With this number, we as your Real Estate Broker, our search start here. Once we found a suitable property or properties, we will send the information as soon as possible to you. And we gladly hear out your opinion. Once we agreed upon 1 to 3 particular properties, we will carry to do a viewing. We strongly recommend all our clients to take the time to come a view the property first and not to do a blind purchases.
During the viewing we will guide you through the rest of the process, explaining the cadaster drawings and what to look for when you are intended to buy this property. And sometimes we would help out our client to see the potential of the land or building in front of us. Each property is unique, the history of this piece of land might be totally different than the neighbor’s. The deed will tell you what the history is of your desired property.
Step Three: Make Known You Would Like to Purchase This Property
Most potential buyers make a decision pretty soon after seeing a number of properties. One in particular will definitely jump out of the rest! It is time to make an offer. The offer can be the exact number of dollars as the owner asks for the property. But in some cases, particularly if there are more buyers on the market for the same property, a bidding can be started. Each potential purchaser will do a bid and the owner can pick and choose who the next happy owner will be.
Pay attention though, it is not necessarily the highest bidder always wins. Another scenario could be that the owner is willing to negotiate down the asking price. Often you will see on the ad ONO (Or Nearest Offer), NEG (Negotiable). It is up to you to make an offer close to the asking price. Need any help? Our broker is willing to help you out a bit.
If you have a number in mind, you will let us, the Real Estate Broker, know. We will inform the owner of your bid. And the waiting for a response begins. Normally we expect an answer as soon as the same day, or the following working day. The owner can response with a counter offer or decline your offer. The response we want is that the owner accepts your offer!
Step Four: Time to Put Things in Writing
Constellation Development services is now going to prepare an Offer Letter in your behave. This Offer Letter is an official letter to let the owner know at what price your offer will be.