Help me get my ducks in a row FAST!

[Anonymous]

you need pre-approval, forget everything else. Pre-approval is a bit more difficult than 5 years a go.

[Anonymous]

Anonymous wrote:Don't think attorneys negotiate for you -- that's an agent's job.

Why are you waiting for the open house? it may be gone by then. Contact the listing agent NOW and go see it!

+1. Houses are flying off the shelves in less than a week.

But still:

1) get an agent - you probably have no idea about so many things. I am a lawyer and I am so glad I got one. I can recommend one - mine is licensed in DC/MD/VA - Sue Jin Song (Coldwell Banker Diamond Seller).

2) get pre-approved for a loan - they just ask for your SSN and how much you make per year, etc. It's very fast, and no seller will take you seriously unless you have a pre-approval letter. I had a great experience with Wells Fargo/Prosperity Mortgage.

[Anonymous]

Whatever agent you call should love you -- easy money. Make it clear that you're willing to write an offer TODAY if the house looks right for you, and ask the agents you are interviewing if they will give you a discount on their commission.

[Anonymous]

Agent here. You should also contact a home inspector and have a time lined up to preinspect before making an offer. That way you will know the house's faults in advance and eliminate the inspection contingency in your offer. If there are too many problems, you are out $400-$500 but an offer without a home inspection will stand out.

[Anonymous]

Anonymous wrote:Agent here. You should also contact a home inspector and have a time lined up to preinspect before making an offer. That way you will know the house's faults in advance and eliminate the inspection contingency in your offer. If there are too many problems, you are out $400-$500 but an offer without a home inspection will stand out.

Especially if it's going to be a multiple offer bidding scenario. This seemed to be happening frequently in the neighborhood we bought in this past spring and we did it on the house that we ended up buying.

[Anonymous]

Anonymous wrote:Agent here. You should also contact a home inspector and have a time lined up to preinspect before making an offer. That way you will know the house's faults in advance and eliminate the inspection contingency in your offer. If there are too many problems, you are out $400-$500 but an offer without a home inspection will stand out.

I did not know that pre-offer inspections were possible! Do most sellers allow this? Is it really possible to time the inspection so that you can beat the competition?

[Anonymous]

Anonymous wrote:Agent here. You should also contact a home inspector and have a time lined up to preinspect before making an offer. That way you will know the house's faults in advance and eliminate the inspection contingency in your offer. If there are too many problems, you are out $400-$500 but an offer without a home inspection will stand out.

The behavior in North Arlington, McLean, upper NW, etc., is a lot like 2006.

[Anonymous]

Pre inspection? Do you mind throwing away 600 each time you look at a house?

[Anonymous]

Pre inspection? Do you mind throwing away 600 each time you look at a house?

Agent back again. If it's the perfect house in the perfect neighborhood (which the OP won't know until she sees it first, obviously) and competitive bids are expected, it's worth it. An offer without an inspection contingency will often beat out another offer that has one but is escalating higher.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Agent here. You should also contact a home inspector and have a time lined up to preinspect before making an offer. That way you will know the house's faults in advance and eliminate the inspection contingency in your offer. If there are too many problems, you are out $400-$500 but an offer without a home inspection will stand out.

Especially if it's going to be a multiple offer bidding scenario. This seemed to be happening frequently in the neighborhood we bought in this past spring and we did it on the house that we ended up buying.

As a recent buyer, I don't recommend waiving a home inspection contingency. Who cares if it makes your offer weaker -- so not worth it. Even with an inspection before an offer is made. That's horrible, HORRIBLE advice for a buyer agent to be giving.

[Anonymous]

Anonymous wrote:

Pre inspection? Do you mind throwing away 600 each time you look at a house?

Agent back again. If it's the perfect house in the perfect neighborhood (which the OP won't know until she sees it first, obviously) and competitive bids are expected, it's worth it. An offer without an inspection contingency will often beat out another offer that has one but is escalating higher.

Dumb agent advice. You have a fiduciary duty to your buyer, not a responsibility to get them into a house at all cost. Also, the buyer should view the home inspector as someone whose job it is to keep them OUT of a house if necessary.

[Anonymous]

As a recent buyer, I don't recommend waiving a home inspection contingency. Who cares if it makes your offer weaker -- so not worth it. Even with an inspection before an offer is made. That's horrible, HORRIBLE advice for a buyer agent to be giving.

If you had a full home inspection before making an offer, you would know everything that might be wrong with the house. So then why would you need your offer contingent on the home inspection you already had?

[Anonymous]

How is that terrible advice? A buyer's agent role is to help the buyer secure the property that they WANT and for the best price possible. Is waiving an inspection giving the buyer less leverage, yes, but it's NOT a buyer's market in some of the areas, and with the low inventory you really need to have a strong offer to secure the house you want and if you want it now. I think I probably paid less for the house I recently bought by going this route, since it's not like I would have been able to ask the seller's to fix much anyways, since , repeat, it's NOT a buyer's market, and I was able to get the seller to accept my offer without getting into large escalation clauses, etc.

You can do a quick inspection that's only about $300 where they look at the major stuff, and if you're not capable of dealing with minor stuff (like caulking tile, fixing a drain pipe trap, etc., then you shouldn't be buying a house), which is most likely all you would ask somebody to fix anyways.

From the seller's perspective, it means you are damn serious about making it to closing on the house and when I went to sell my house I took the offer that only gave them the right to inspect.

The OP does not have to go this route if so desired, but in a multiple offer climate, if you've had a pre-inspection, you know the potential issues (if any), and then you're not going to put in some absurd escalation clause if the house does have a serious issue or not bid at all. I wasn't happy about having to bid this way, but after losing a house you really want because of the market conditions we are in, you would probably view it differently.

[Anonymous]

Hey OP, would you give us an update? I hope you are moving forward, if that is what you want. I just would like to hear some good news (am still sad that we let a house slip thru our fingers). Good Luck!

[Anonymous]

Call Redfin, do a property specific contract with them (for this contract).
Make appt asap to see house.
Call 4 lenders and get good faith estimate. Collect all your bank, tax, employment statements, etc.
Look at comps on Redfin, submit offer with the usual contingencies (home inspection, financing, home appraisal).

You could also use an atty at District Title to submit your offer. Rebate the entire buyside fee to yourself!