I’m not a boy scout. My dad was an eagle scout, but I didn’t even know that until I was well into my teenage years. But as I look back, I can see the ‘always be prepared-ness’ oozing from my dad and all that he taught me.
Applied to real estate, ‘always be prepared’ hits us in a lot of different ways during a transaction
- Get Pre-approved – This will help you know what loan amount you can afford, thus what price range you should be looking at
- Look at a ton of houses – The more homes you look at, the the better you will understand what you like and don’t like, and the quick you’ll be able to make a confident decision.
- Know the comps – Between you and your agent, you should be able to sniff out a good deal quickly. When you go to make the offer, the comps will tell you where your offer should be.
- Know your closing costs – If you need to ask for your closing costs to be paid for by the seller, you need to know how much, and you need to clearly spell this out in the offer.
- Know the condition of the house – are there items that will fail an inspection, or an FHA appraiser?
- Estimate high – If you are planning on remodeling the home, estimate high.
- Be prepared for the unexpected – Every transaction has its’ unique challenges and opportunities