A Series for the First Time Homebuyer – Nashville Style! STEP THREE: Viewing and Selecting Your Home!

A Series for the First Time Homebuyer – Nashville Style!  STEP THREE:  Viewing and Selecting Your Home!

So you have decided that you want to take advantage of the First Time Home Buyer’s $8000 Tax Credit?!!  This may be a great idea for you because in Middle Tennessee, you have got LOTS of homes to choose from!  Your dream of homeownership may soon become reality!

 

If you have never bought a home before (believe it or not, a “first time home buyer” just means that you have not owned a home in the past three years), the idea of it might be a little bit daunting.  This series that I am putting together strives to help clarify the steps that will lead you into your new front door!

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STEP ONE of this series dealt with FINDING A LENDER and getting yourself pre-approved for a loan (if you aren’t going to pay cash). 

STEP TWO of this series dealt with HOW TO FIND A REALTOR AND BEGIN YOUR HOME SEARCH

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So here we are at STEP THREE!!!  The FUN STEP!!!  SELECT A HOUSE!

Once you have selected a Realtor and you have started to look online for houses and driven through some neighborhoods to get an idea of which areas you like, then it’s time to schedule some showings with your realtor!

PLEASE KEEP IN MIND THAT ALL SHOWINGS MUST BE SCHEDULED IN ADVANCE!!!

It’s a good idea to give at least a 24-hour advanced notice to the seller before attempting to see their house.  After all, the seller would like the opportunity to get their house into the best shape possible to be viewed!  And the realtor needs some time to schedule these showings as well!

Your realtor will probably tell you the following “etiquette” on viewing listed properties, but just in case they forget, let me explain what’s cool and what’s not:

Here’s what’s cool:

  • If you drive by a listed property or a For Sale by Owner property, write down the property address and any potential phone numbers on it and pass them along to your realtor to set up a showing.  There may be some flyers in a box outside (usually near the sign) and it’s cool to take one!
  • If there is an open house scheduled, go ahead and go through houses in neighborhoods you like to see what the “standard” is for that neighborhood.
  • Send MLS numbers to your realtor and ask to go view those properties with him or her.

These things are SO NOT COOL:

  • Don’t go up to a listed property and knock on the door to ask the homeowner if you could “quickly run through the house” since you were just driving by.
  • Don’t peer into windows of listed properties unless you know that they are vacant!
  • Don’t steal the realtor‘s sign in the hopes that no one else will try to get this property before you do – it’s most likely online anyway!
  • Don’t call the realtor on the sign and ask if he/she could show you the property – that’s YOUR realtor’s job!

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So on to viewing the properties with your realtor…

Your realtor will most likely be pointing out to you good and bad points of each house, but (for me at least) they are probably looking at each house through the eyes of the “resale value”.  Since it IS going to be your FIRST home, you will most likely not be living there your entire life!  Therefore, an “equity-building” house is a very important aspect of this first house for you!

And ALWAYS keep these real estate guidelines in the back of your mind:

  • Location, Location, Location
  • Buy the Worst House on the Best Street You Can Afford

Find a house that YOU LIKE and can live in which also meets the above criteria – then it’s time to PUT IN AN OFFER which will be my next post!

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If you are interested in selling or finding a home in Green Hills, Downtown, 12th South, or Oak Hill area of Nashville, or would like to look at other real estate for sale in the Middle Tennessee area, please search the MLS HERE.  Please note:  You will have to register with my site to be able to search the MLS.  I will contact you initially and all requests thereafter for privacy will be respected.

Looking to move?  Wanting to Invest?  Need help as a First Time Buyer?  Please feel free to call me, Emily Lowe (yes, I’m a Realtor, with The Lipman Group Sotheby’s International Realty) at 615.509.1753