5 COMMON FIRST-TIME HOME BUYER MISTAKES and STRESSORS that Lyn Sims doesn't want her buyers to make! Guiding her buyers with veteran experience, she can help you find the best value in the Elk Grove IL homes.
1. They don't ask enough questions of their lender and end up missing out on the best deal.
Lyn's Comments - All lenders do not carry the same financing. Some do not handle FHA loans or loans with more flexible qualifying ratios that a first-time home buyer might need in order to get into that first home. I can point you in the right direction so you get the best financing for you. You MUST be prequalified for a loan BEFORE you begin your home search.
2. They don't act quickly enough to make a decision and someone else buys the house.
Lyn's Comments - I'll help provide you with the Elk Grove information you need to make a confident decision. Real Estate is local and each neighborhhood is unique. I can show you which areas are on the upswing and which are not.
3. They don't find the right agent who's willing to help them through the homebuying process.
Lyn's Comments - Not all real estate agents are equal. Not all real estate agents do this full-time. Some of us have actually perfected their craft and know the in's and outs of each neighborhood you might be interested in. I have been in the area for over 20 years and I understand the trends both past and present. I've been in all the neighborhoods in the area - have you?
Why not take advantage of my Elk Grove expertise?
4. They don't do enough to make their offer look appealing to a seller.
Lyn's Comments - The sellers main concern is whether you can complete the transaction with your financing! He says - Show me the money! That's why going and getting pre-approved is a must. Low-balling a seller will do nothing for your negotiations but give you a black eye! There's a misguided 'Chicago' adage (custom?) that says "let's start $20,000 under list to see what they will do". Well, in my experience I can assure you, it'll be nothing! Not every seller is desperate despite what the media is leading you to believe! Do you think every seller needs to come down $30,000? It's just not realistic to expect.
5. They don't think about resale before they buy. The average first-time buyer only stayed in a home for four years. That might have to change.
Lyn's Comments - I am able to show you the market trends going back as many years as you would like. The MLS data available to me can tell you the average increases or decreases in a particular neighborhood. I also have statistics giving you town to town appreciation increases over a period of years. All this information and expertise can help you make a great buying decison.
HAVING SOMEONE IN YOUR CORNER WITH OVER 20 YEARS EXPERIENCE WILL ENSURE EVERY DETAIL OF YOUR PURCHASE IS HANDLED SMOOTHLY!
Northwest Suburban Chicago Areas - Working the areas of Elk Grove Village, Streamwood, Bartlett, Hanover Park, Hoffman Estates, Medinah, Itasca, Roselle, Bloomingdale, Schaumburg.
Tips for First-Time Home Buyers
Ten Steps to Prepare for Home Ownership
good advice Lyn. I read about an FHA program that my buyers lender was not familiar with. We made a sale because of the info some one posted.
Bill:
Not every lender can offer the same loans, there are just too many varied programs. I don't think the public realizes that FHA is the most under utilized one. Very confusing process for the buyer. Now FHA is being used again due to the recent credit tightening, some LO's make it seem like it's a brand new program being offered!