Are you looking to buy a new home in Helena, Montana? Purchasing a home is a process you do not want to take lightly. For most Americans a home is the single largest investment they will make in a lifetime. This is why it is so important to make sure you know everything about the process, home, and lender before you just jump right in. Bruce Swinney and Associates are Helena’s favorite Realtors and will make sure that you are well taken care of when you buy your Helena Home.
We have years of experience in the Helena Real Estate Market and leverage our expertise to not only make sure you find the best home in Helena for you and your family, but also make sure you are getting the best loan possible. When you choose to work with our team you are part of the Bruce Swinney Real Estate family, and we look forward to helping you with all your Helena Real Estate needs. If you are considering buying a home in Helena take these tips into consideration so you come out on top of your Real Estate transaction.
Have a Checklist: Whether you are a first-time buyer or an experienced owner, buying a house requires some homework. You will need to know what you can afford and what city or neighborhood you want to live in. Look for signs of economic vitality: a mixture of young families and older couples, low unemployment and good incomes. Try to also get an idea about the real estate market in the area. For example, if homes are selling close to or even above the asking price, that shows the area is desirable. If you have the flexibility, consider doing your house hunt in the off-season — meaning, generally, the colder months of the year. You’ll have less competition and sellers may be more willing to negotiate. Be wary of choosing search criteria that are too restrictive. For example, select a price range 10% above and 10% below your true range and add a 10-mile cushion to the location you specify.
Making an Offer: Your opening bid should be based on two things: what you can afford (because you don’t want to outbid yourself), and what you really believe the property is worth. Make your opening bid something that’s fair and reasonable and isn’t going to totally offend the seller. Remember, that your leverage depends on the pace of the market. In a slow market, you’ve got muscle; in a hot market, you may have none at all. There’s no foolproof system for negotiating a fair price. Sellers respect a bid that is an oddball number and are more likely to take it more seriously.
Securing the Loan: There’s a big difference between a buyer being pre-qualified and a buyer who has a pre-approved mortgage. Being pre-approved will save you a lot of time and energy so you are not running around looking at houses you can’t afford. It also gives you the opportunity to shop around for the best deal and the best interest rates.
Get an Inspection: Ask to be present during the inspection, because you will learn a lot about your house, including its overall condition, construction materials, wiring, and heating. If the inspector turns up major problems, like a roof that needs to be replaced, then ask your agent to discuss it with the seller. You will either want the seller to fix the problem before you move in, or deduct the cost of the repair from the final price. If the seller won’t agree to either remedy you may decide to walk away from the deal, which you can do without penalty if you have that contingency written into the contract.
Closing the Deal: Review it carefully. It will include things like the cost of title insurance that protects you and the lender from any claims someone may make regarding ownership of your property. The cost of title insurance varies greatly from state to state but usually comes in at less than 1% of the home’s price. The actual closing is often somewhat anticlimactic. It’s a ritual affair, with customs that differ by state. Your real estate agent can brief you on the particulars.
When you are ready to start the process of buying a home in Helena Call us at Bruce Swinney and Associates. 406-442-3616