3 Game Changing Steps in Buying Your Home

There are approximately 17 steps you and your Realtor will take during your home buying experience. While each step is important, there are 3 game changing steps that you should focus on to ensure you are getting the best deal. 

1.) Building your real estate team - Depending on your situation, your team may consist of a Mortgage Originator, Realtor, Home Inspector, Closing and Title Attorney and in several cases a Short Sale Negotiator. How do you find the best professionals in Rhode Island for each job? Many times a seasoned Realtor will already have a team in place and can make suggestions. Each professional involved, mainly your mortgage contact and Realtor will have the biggest impact on the amount of money you save or loose during your transaction. We are not talking about buying a $5 Big Mac, we are talking about the largest investment you may ever make in your life and more importantly a place you and your family will sleep, laugh and cry - your home. 

Tips:

• Do your homework! Look up recommendations! Trulia and Zillow are great places for this! Who is doing the recommending? If the professional you are viewing has 47 recommendations and 43 are from friends and colleagues, you can probably imagine that they have not handled many transactions or their clients did not care to leave feedback. Maybe a case of "If you do not have something nice to say, don't say anything at all!"
• Hire full time professionals! Time is of the essence! You need someone that is always there working for you and available at all times to answer your calls/texts/emails! Furthermore, would you allow a "part-time" surgeon to operate on your broken leg or put a stent in your heart? Probably not. 
• 80/20 rule - 20% of the professionals do 80% of the transactions. Don't be afraid to ask how many transactions they have successfully closed and the details that go with many of the transactions. 

• Make sure you know your options! There are many types of mortgages you may be able to obtain - USDA, VA, FHA, 203K, CONVENTIONAL, etc. Make sure you have your mortgage contact explain each one, you can save BIG dollars here! Not to mention you may not have to put a down payment on your new home! Seriously! (Also ask your Realtor to fight for closing cost assistance!) 

• Track record! Every professional should have one! Specifically with Realtors, ask them about their recent success stories (not 6 years or even 5 months ago.. we are talking the past 30 days - The market changes daily!). This is where those recommendations can come into play!
• Extracurricular studies. Does your agent study negotiations, human behavior, work full time, have report with other agents? Are they likable?