Poirier Realty



Posted by Poirier Realty on 1/15/2019

Making an offer on a home you’d love to buy is arguably the most stressful part of the buying process. You’ll be worrying about making the right offer, whether you’ve presented yourself in the best possible light, and just how much competition you’re up against.

Today we’re going to help you alleviate that anxiety by giving you the most common real estate offer mistakes to avoid, and show you how you can increase your chances of getting the perfect home for you.

1. Do your research on the house

You have a lot of research to do before making an offer on a home. You’ll want to know the price the home formerly sold for and improvements that have been made and that will need to be made if you move in.

It also helps to know the seller’s situation. Are they on a deadline and moving out-of-state? If so, they might be tempted to take one of the earlier offers they receive.

2. Know your own financial limits

Before you ever make an offer you’ll need to know how much you can spend. This isn’t just a matter of offering the maximum amount you’re preapproved for. You’ll have to factor in moving expenses, final payments on your last rent or mortgage, changes in utility costs, and more.

3. Don’t offer your full preapproval amount

Sellers who know that you’ve offered your maximum preapproval amount may be wary of selling since they know you lack room to negotiate your budget and therefore might have a higher chance of backing out of the offer. They might favor other buyers who have room to negotiate and account for unexpected changes in their budget or of rising interest rates.

4. Avoid aggressive negotiation

We know the stakes are high for everyone involved in making a real estate deal. However, sellers are more likely to accept the offer of someone they trust and like over someone who seems to be trying to gain leverage.

Always be cordial with your offers and support them with numbers--explain to the seller why you chose the number you did, so that they can understand your reasoning.

5. Don’t attempt to gain leverage by waiving a home inspection

By law, you are allowed to have a home professionally inspected before purchase. Waiving this right is sometimes misconstrued as a way to tell a seller that you trust them and don’t want to cause them any unnecessary headaches.

The reality of the matter is that if you truly do want to own their home, sellers understand that you want to know what you’re buying.

6. This isn’t the only house you can be happy in

Hunting for a home is hard work. Once you find one that seems perfect for you or your family, it can seem like everything depends on your offer being accepted.

However, the fact is there are endless houses on the market, and next week a new one could be put up for sale that is even better than the home you’re hoping for now.

If your offer isn’t accepted and you don’t feel comfortable committing to a higher price, move on to the next house knowing that you made the best decision under the circumstances.




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Posted by Poirier Realty on 1/8/2019

As a homebuyer, you'll want to do everything possible to guarantee a quick, seamless homebuying journey. Because if you're not careful, you may be forced to deal with a nightmare homebuying experience.

Ultimately, there are many ways to ensure that you can avoid a nightmare homebuying experience, such as:

1. Narrow Your Home Search

Although you know that you want to buy a home, it pays to consider exactly what you'd like to find in your ideal residence. By doing so, you can narrow your home search and avoid the homebuying nightmare of pursuing residences that fail to meet your expectations.

Think about which features are must-haves for your new home, as well as which features you can afford to live without.

For example, if you require a home that is close to your office, you can search for houses near your workplace. On the other hand, if you want to live in a small town, you can remove city residences from your home search.

Establish priorities as you search for your dream house – you'll be glad you did. If you separate your home must-haves from your wants, you can simplify your home search and move one step closer to finding your ideal residence.

2. Get Your Finances in Order

How much can you afford to spend on a house? Create a homebuying budget, and you can avoid the risk of browsing available residences that fall outside your price range.

To determine how much money you have available for a home purchase, it often helps to meet with local banks and credit unions. These financial institutions can provide details about a variety of mortgage options and help you select a mortgage that corresponds to your finances.

Also, you should check your credit report before you buy a home. You are entitled to a free annual copy of your credit report from each of the three credit reporting bureaus (Equifax, Experian and TransUnion). Take advantage of this perk, and you can learn your credit score and take steps to improve it prior to purchasing a house.

3. Hire an Experienced Real Estate Agent

An experienced real estate agent understands both the homebuyer's and home seller's perspectives. As such, this housing market professional can help you analyze a home seller's point of view and negotiate the best price on any home, at any time.

Typically, an experienced real estate agent will meet with you and learn about your homebuying goals. This housing market professional then will map out a homebuying journey, one that helps you streamline the process of acquiring your ideal house.

Let's not forget about the assistance that an experienced real estate agent can deliver throughout the homebuying journey, either. A real estate agent can provide expert insights into the housing market and help you make informed decisions, thereby reducing the risk of a nightmare homebuying experience.

Take the guesswork out of buying a home – use the aforementioned tips, and you can minimize the risk of a nightmare homebuying experience.




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Posted by Poirier Realty on 1/1/2019

Buying a house may prove to be a long, complex journey, especially for a first-time homebuyer who decides to pursue a residence on his or her own. Fortunately, many real estate agents are available to help first-time homebuyers make their homeownership dreams come true.

Now, let's take a look at three tips that first-time homebuyers can use to find the right real estate agent in any housing market, at any time.

1. Go Beyond a Web Search

In many instances, it is easy to conduct a web search of real estate agents in a city or town. However, a diligent first-time homebuyer will know to look beyond a simple web search to discover the ideal real estate agent.

Take a look at a real estate agent's website. By doing so, a homebuyer can learn about a real estate agent's industry accomplishments and experience.

Also, don't hesitate to contact a real estate agent's office directly. This enables a homebuyer to have a brief conversation with a real estate agent and find out exactly what this housing market professional is all about.

2. Host a Face-to-Face Meeting

A face-to-face meeting may prove to be exceedingly valuable for both a first-time homebuyer and a real estate agent, and for good reason.

During a face-to-face meeting, a homebuyer can ask questions and learn about a real estate agent's industry expertise. Plus, a homebuyer can receive comprehensive insights into what it will take to acquire a top-notch residence at a budget-friendly price.

Meanwhile, a face-to-face meeting helps a real estate agent learn about a homebuyer's goals. A homebuyer can provide information about what he or she wants in a dream home, and a real estate agent can offer details about what a homebuyer should expect at each stage of the property buying journey.

3. Receive Client Referrals

Although a first-time homebuyer may feel comfortable with hiring a real estate agent after a face-to-face meeting, it is always better to err on the side of caution. Thus, a homebuyer who requests client referrals from a real estate agent ensures that he or she can make the best possible decision.

A real estate agent should have no trouble providing you with multiple client referrals. Then, you can reach out to this housing professional's past clients to find out how he or she has helped homebuyers achieve their desired results.

Spend some time reaching out to a real estate agent's past clients – you'll be happy you did. With additional client insights at your disposal, you can improve your chances of choosing the perfect real estate agent.

Lastly, it is important to remember that a real estate agent should be available to guide you along the homebuying journey. This housing market professional boasts in-depth industry experience, and as such, can share deep insights to help you make informed decisions as you go from homebuyer to homeowner.

Take advantage of the aforementioned tips, and a first-time homebuyer can employ a first-rate real estate agent and gain unparalleled support throughout the homebuying cycle.




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Posted by Poirier Realty on 12/25/2018

Although you may have listed your residence in the hopes of a fast home sale, the real estate market has been tough to navigate thus far. As a result, your house has lingered on the real estate market for several weeks, and no end to the home selling journey appears in sight.

Fortunately, we're here to help you generate interest in your house and speed up the home selling process.

Let's take a look at three quick, easy ways to stir up interest in your residence.

1. Clean Your Home Both Inside and Out

Your house's exterior can make a world of difference in the eyes of homebuyers. If your house has a pristine lawn, immaculate siding and other outstanding exterior features, it may stand out to large groups of potential buyers. Conversely, if your residence fails to make a positive first impression on homebuyers, it is unlikely that these buyers will set up home showings.

Mow the lawn, trim the hedges and perform assorted home exterior maintenance and repairs. By doing so, you can instantly boost your house's curb appeal and make your home an attractive choice to dozens of potential buyers.

Furthermore, don't forget to mop the floors, wipe down countertops and ensure your home interior dazzles. Because if your home interior impresses homebuyers, it may be only a matter of time before these buyers submit offers on your house.

2. Declutter As Much As Possible

Clutter can make your house appear smaller than it actually is and get in the way of a potential home sale. As such, you should remove as much home clutter as possible.

Renting a storage unit is a great option for any home seller. With a storage unit at your disposal, you can pack up excess items and store them securely until your house sells.

Also, keep in mind the homebuyer's perspective as you declutter your residence. A homebuyer wants to envision what life would be like if he or she purchases your house. Therefore, you should remove artwork, photographs and other personal mementos from your home to help a homebuyer imagine life as the owner of your residence.

3. Collaborate with an Expert Real Estate Agent

A real estate agent possesses the skills and know-how to help you promote your residence to the right homebuyers, at the right time, every time. Thus, if you hire a real estate agent today, you can move one step closer to selling your house.

Ultimately, a real estate agent will support you in a number of ways. He or she will help you list your residence, set up home showings and host open house events. Also, a real estate agent will keep you up to date about any home offers and provide recommendations throughout the home selling cycle.

Accelerate the home selling process – use the aforementioned tips, and you can quickly and effortlessly stir up plenty of interest in your home.




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Posted by Poirier Realty on 12/18/2018

Applying for your first home loan can seem scary or daunting to many first-time homeowners. However, this process, if done correctly, can save you thousands or tens of thousands of dollars on interest over the lifetime of your loan.

Before you apply for a loan, there are several documents you’ll want to gather and steps you’ll want to take to ensure the application process goes smoothly. In today’s post, we’ll talk about one specific aspect of the mortgage application process--credit scores.

Credit scores may seem confusing. However, since they can so drastically affect your home loan interest rate, it’s important to understand their implications.

Credit checks and mortgages

One of the things that all lenders will want to see before approving you for a home loan is your credit score. If you’re thinking of applying for a mortgage, odds are that you’ve been working to build credit by paying off loans and credit cards on time each month.

The three main credit bureaus in the U.S. are all required to give you a yearly free credit report. This is a detailed document that outlines your lines of credit, payment dates, and amounts. It’s a good idea to get a detailed credit report and check for errors before applying for a loan.

Unlike a hard “credit inquiry,” a free report does not affect your credit score, so you don’t have to worry about dropping a few points by requesting one of these reports.

When applying for a mortgage, however, lenders will perform a hard credit inquiry to determine your borrowing eligibility. This is a part of the pre-approval process and is typically unavoidable.

This is important to note if you are planning on applying to multiple lenders. Be aware that each “prequalification” and “preapproval” may come with a temporary drop in your credit score.

Since credit inquiries make up a total of about 10% of your credit score, these inquiries can make a difference in the short term. For this reason, it’s a good idea to avoid opening new cards or taking out other loans (such as an auto loan or student loan) within six months of your mortgage application.

If you aren’t sure of your current score, you can always check for free from websites like Credit Karma and Mint.

One last thing to note about credit scores and their relationship to mortgages is that most lenders use a specific type of score known as a FICO score. In fact, every adult in the United States with a credit score will have three FICO scores, one from each major credit bureau.

So, when checking up on your credit score, it’s good to remember that each score will be slightly different and your lender’s score may not reflect what you see online.




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