The old saying that ‘everything is negotiable in real estate’, really doesn’t ring true anymore, and this is what people preparing the first home buyers’ checklist in Orange County CA should be aware of. The speed of property sales has decelerated in many Californian cities, and consequently, sellers have gotten a slight leverage over buyers. However, it is not all doom and gloom for prospective home buyers. Several buyers often deal with sellers who do not recognize the fact that although home values rise very slowly, in the future, they could rise considerably. This gives potential homebuyers some level of opportunity for negotiating on some properties – but not all.
What should essentially be on a first home buyers’ checklist in Orange County CA
Contacting a realtor – Before even thinking of making a checklist or approaching a homeowner, the first-time home buyer must be aware of the fact that in California, it is a seller’s market. The demand for houses is way too much and more than often, what the seller asks for is non-negotiable. Since it is probably the single biggest purchase a person makes, he or she must be prepared to face the harsh reality of California’s housing market. Having a trusted and a top realtor in Orange County CA negotiating the deal on the buyer’s behalf is really the only hope for major discounts.
Getting finances in order – Buying a home is a process that is complex. Not only is it dependent on the home buyer’s present financial situation, it also puts his/her past financial status into context. Any top real estate agent in Orange County CA will have the client know that his offer is much less convincing if it does not contain a mortgage pre-approval.
Math – Do it or miss out on a good offer. A yearly interest rate of 3% on a $50,000 property is just 28$/week. For such small margins, haggling over the price makes no sense. Instead, the home buyer should do all math variations on the property charges before entering negotiations.
Base the offer on the home value, not the list price. Any advisor working in real estate services in Orange County CA will tell the home buyer to base his offer on the home value and not the list price.
Additional tips on how to evaluate the offer price by professional real estate agents
- Always check the recent sales in the neighborhood. They provide the perfect basis for home buyers to base their initial offer on. Homes for sale in Orange County CA that are valued at or below market value, are unlikely to go for less. There is no point in offering the seller a reduced amount.
- Know when to offer a discounted rate. Always high up on the list is the wish to get a discounted price. Here are the scenarios where offering a discounted price may actually work – If the real estate property is priced above market value and has been available on the market for a long time, a low offer together with a thorough market analysis may get a good discount on the home.
- The number one priority item on a first home buyers’ checklist in Orange County CA should be to do things at a rapid rate. All processes required to apply for and buy the desired property must happen in quick succession. In California, houses go off the market just as soon as they come in. It is crucial that the home buyer acts fast.
Following these steps is crucial for all first-time home buyers in California as they can help in preparing the ideal offer to the seller.
Gerry Goodman Real Estate Services
Gerry Goodman Real Estate Services has a history that dates back over 25 years. The company has always helped its clients get the best real estate contracts, through due assistance in creating the ideal first home buyers’ checklist in Orange County CA so that the clients can get the best deal possible. Dedicated to fulfilling the real estate requirements of every client, Gerry Goodman is presently operating in Orange County CA, in the cities of Anaheim, Anaheim Hills, Yorba Linda, Newport Beach, Dana Point, Laguna Beach, Huntington Beach, Irvine, Tustin, and Aliso Viejo.