Salt Lake City Real Estate Tips, Market Updates and

Local Happenings

By Real Estate Expert KathyOHomes

I. Don’t Get “Pre-Qualified!

If you're looking to get the very best house you're capable of getting for the least amount of money you'd like to spend in Salt Lake City Utah? Next, be sure you are in the optimal position from which to negotiate. Price is only one bargaining chip in the negotiations, and not necessarily the most important one. Often other terms, such as the strength of the buyer or the length of escrow, are critical to a seller.

In the past it was our policy to suggest to potential buyers that they try to get qualified for a loan before they apply for it. This means that you spend a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you “pre-qualified” and issues a certificate that you can show to a seller. Sellers are aware that such certificates are WORTHLESS, and here’s why! None of the information has been verified! Oftentimes-unknown problems surface! Some of the problems I’ve seen include recorded judgments, child support payments due, glitches on the credit report due to any number of reasons both accurately and inaccurately, down payments that have not been in the clients’ bank account long enough, etc.

When you're "pre-approved," your offer is seen as coming from a stronger starting position. This occurs following the verification of all of the details. Now for the final step. Loan approved, but what about the property appraisal? Depending on the circumstances, the entire process can take anywhere from just a few minutes to a few days. Something we strongly suggest for all of our clients to have.

Since you are currently renting a home and don’t have a home to sell you may be at an advantage when competing with other buyers because many buyers must sell their current home before they are able to get financing for another. 2. Play the Game of Nines

Before house hunting in the Salt Lake City Utah market, make a list of nine things you want in the new place. Think of nine things you don't want in a house, then write them down. “NINE OF THIS AND NONE OF THAT”,I call this You can use this list as a scorecard to rate each property that you see. The highest final rating is the winner! This will help to prevent any misunderstanding and maintain a sense of perspective while making comparisons of many homes. When house hunting in the Salt Lake City Utah, keep in mind the difference between “SKIN AND BONES”. Such as the location, view, size of lot, noise in the area, school district, and floor plan,the BONES are things that cannot be changed. Easily changed surface finishes like carpet, wallpaper, color, and window coverings,the SKIN represents. Buy the house with good BONES, because the SKIN can always be changed to match your tastes. Think of the house you are viewing as empty, without furniture. Consider each house on its underlying merits, not the seller’s decorating skills. 3. A good agent will show everything available that will meet your requirements. You should not make a decision on a house until you have seen enough to pick the best one. Go to the Multiple Listing computer with your agent to make sure that you are getting a COMPLETE list of homes for sale in Salt Lake City Utah get the home you really want instead of whatever the agent has chosen to let you take a look at.

In the late 1980’s, homes in Salt Lake City Utah Usually a few days after listing,were selling quickly. In this type of market, agents recommended that their customers place an offer instantly if they were interested in the home. At that moment, it was a sage opinion. Today there isn’t always this urgency, unless a home is drastically under priced, and you’ll know if it is. Remember the dangers of waiting too long; the property could be sold before your bid arrives. If you really like a house, get an offer written and make sure your agent writes in the proper clauses to get you out of the offer.

Don’t forget to check into the SCHOOL DISTRICTS of the area you’re considering. For more information about schools in the Salt Lake City Utah market you can go to my website found at www.KathyOHomes.com. Information is available on every school; such as class sizes, % of students that go on to college, SAT scores, etc.

D. Stop Calling Ads!

A word of caution – agents in the Salt Lake City Utah market create ads solely to make the phone ring! Many of the homes have some drawback that’s not mentioned in the ad, such as traffic noise, power lines, or litigation in the community. What’s not mentioned in the ad is usually more important than what is. This is why we think it prudent for you to take great care when going over advertisements. Remember that the person writing the ad is representing the seller and not you in most cases! The essential thing for you is to have someone on your side looking out for you. Your own agent will critique the property with an eye towards how well it meets your needs and will point out any drawbacks you should know about.Regardless of who you chose to work with, remember to select someone that wins your confidence. Remember too to find to get a buyer's broker on board. Then you become a client with all the rights, benefits, and privileges created by this agency relationship, and you’re no longer just a shopper. Did you know that many homes are sold WITHOUT A SIGN ever going up or an AD EVER BEING PUT IN THE PAPER? People who stick to a sole agent are the ones who find the fantastic deals out there. When an agent hears of a great buy, who do you think he’s going to call? His client, who he has a legal obligation to work hard for you, or someone who just called on the phone and said “keep your eyes open”Question: To get the most bang for your buck, buy property in the Salt Lake City Utah real estate market, we always recommend that you hire your own agent and stick with him or her.

There is a lot of free information available to you about buying, selling or investing in Holladay and Salt Lake City, UT real estate.  For complete information about the Salt Lake City, Utah real estate market including Cottonwood Heights homes for sale, property values and more, please visit the most complete website dedicated to everything Salt Lake City real estate.  See for yourself, visit www.BuySaltLakeCityHomes.com

For a FREE Weekly List of Homes for Sale in Salt Lake City, Holladay, UT and surrounding areas, you may fill in the form below and you will see homes as they get listed if they fit the profile you have given.  You will get all the hot listings as they come up even before most agents see them!

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If you or someone you know are in need of a competent and caring real estate professional in or near Salt Lake City, Utah , I will be happy to help when you contact me.

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