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Tips on Home Buying and Selling

Home buying and selling is a very fast paced industry. A house can sell in an hour or even in minutes. Real estate buying and selling is also a very hard job but with the right tips on your book you will be able to outwit and win good deals.

So here are some good tips on how to sell good and buy the best home. Just remember all of this and surely you will be able to sell at the right price and land in your dream home. If you are a buyer then you should take these things into consideration. Before you start working with a bank, mortgage banker, mortgage broker or credit union; get as much information as you can. Check their backgrounds carefully.

Also, get an estimate of all possible fees. Do not over commit yourself. There are some things that you can take care of for the buyer but others that you cannot.

Be able to negotiate. Also make sure that what you are purchasing is within your financial reach. Never go for something that is so high or just right on your income.

Have something that is 25 to 30% lower than your income, so that if ever there is a draw back on your financial status you will still be able to afford it. If there are problems getting into a pre-approval because of your bad credit rating then one good thing to do is to get your credit reports and review them all by yourself. Determine if anything on the report is inaccurate or over seven years old which means it must be removed. While you do not necessarily have to add on a new room or two, make some basic improvements.

Fixing up the house can make a significant difference in the eyes of buyers. If the house needs a paint job, use neutral colors, the same with new carpeting. Also make the grounds appealing. Whether you are going to open houses on your own or using a real estate broker, make up a list of what you would most like in a new home and prioritize it so you can determine what is most important and which items you are comfortable sacrificing. Always keep a cool head, even simple problems can be a burden when you have so many details to take care of, so do not over-react if you hit a few snags on the way to closing. Keep a cool head and work with the people helping you through the transaction to resolve any issues that pop up.

If you are on selling side then this are what you should be thinking of right now. Besides spring, the best time to put your house on the market if you plan on buying another home is when interest rates are low. Low rates benefit both buyers and sellers, and you'll be both. Understand the home selling process and learn about negotiating. Knowing as much as you can could save you thousands of dollars.

If you decide to sell your home on your own keep in mind that it'll probably take longer than if you're using a real estate agent, especially in a buyers' market. When there are more sellers than buyers, real estate agents have the advantage with things like the multiple listing when it comes to getting their homes in front of buyers. Be realistic.

About your asking price, the time it takes to sell a house, the process and the market. If you go in thinking it will take only a week and you'll get exactly your asking price, you'll most likely be disappointed. At market value, you open your home up to more people who can afford the price. Sellers who list at a high price in the hope that they will find the one purchaser, who will pay it, often do not realize that they have discouraged many potential purchasers who could have afforded the price they end up accepting at a later date. Be real and you'll have a much better experience. When selling your home always make it as presentable as possible make sure to repair all the minor and major damage that is on the property.

Selling Real Estate Guide is available as a FREE 5 part ecourse at http://www.sellingrealestateguide.com . Karen ODonnell provides information on the subject if you plan to get involved with this interesting topic.



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