3 Steps To Find Out If Now Is The Best Time To Buy

3 Steps To Find Out If Now Is The Best Time To Buy

You have heard it said that today it is a buyer’s market. Because of our current economy, there is an overflow of inventory from which to choose. This combined with low interest rates makes it an ideal market for a buyer to purchase now.

Before we answer the question “Is now the right time to buy?” you need to do your homework. Yes, there is a surplus of home in the Myrtle Beach market and many of them are on short sale, but buying a home very much depends on the financial situation of you the individual buyer. The Myrtle Beach Short Sale Team suggests that you develop a plan of action to make buying a home either now or in the future, a lucrative and positive experience.

First Step – Contact a Trusted Loan Officer

A loan or mortgage person will help you review your financial history, your income, credit reports and other documentation and will advise you on what you will qualify for. There are a multitude of options available and a good loan officer can steer you in the right direction. Often a solution can be crafted that best suits your situation and a smart loan professional can present more than one option. If you do not qualify for a loan at this time, you will have a good idea of what you need to plan for in order to qualify in the future. Knowing what you can afford will help you determine if buying a home on short sale is right for you.

Second Step – Hire a Buyer’s Agent For Short Sale Purchase

A realtor that works on the side of the buyer is referred to as a buyer’s agent. Their services include:

  • Negotiating for the buyer
  • Consulting with and working for the buyer
  • Listening to the buyers wants, needs and dreams
  • Assist with finding a potential property
  • Showing the house to the buyer
  • Proving market analysis on homes you are interested in
  • Help with determining the fair market value of the property
  • Completion of all necessary documents for the buyer

By meeting with a buyer’s agent, you can determine if this is the person with whom you can work. You may want to interview two or more agents before selecting the one that is right for you.

Third Step – Consult Other Recent Buyers

You will want to talk to friends, family members, co-workers or other contacts that have recently purchased a home. They will all have different experiences depending on their situation but it is good to become familiar with what to expect when purchasing real estate. People love to express their opinions about their experiences with purchasing a house and it is your task to listen very closely.

Use social media and ask questions. Ask people on Facebook if they have recently purchased a home and what was their experience. Ask for tips on what they suggest you look for when buying a home.

Are you still asking “Is now the right time to buy?” The answer is a resounding “Yes!” But first take the time to understand how much if a home you can afford and take the time to understand some of the real estate process. Consult with the Beach Real Estate Agents who understand what you – the buyer – wants. Since it is a buyer’s market, there are literally hundreds of options available to you if you have a good plan of action.

JP Short Sale Team
854 Jason Blvd Unit G
Myrtle Beach, SC 25577

Your Myrtle Beach Short Sale Team

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