{"id":293,"date":"2012-02-03T17:51:23","date_gmt":"2012-02-03T17:51:23","guid":{"rendered":"http:\/\/riverbankfinance.com\/blog\/?p=293"},"modified":"2012-12-10T17:46:11","modified_gmt":"2012-12-10T17:46:11","slug":"bidding-on-your-first-home","status":"publish","type":"post","link":"https:\/\/riverbankfinance.com\/blog\/bidding-on-your-first-home\/","title":{"rendered":"Bidding on Your First Home"},"content":{"rendered":"

\"Placing<\/a>We recently covered the importance of selecting a real estate agent<\/a> and becoming pre-approved<\/a> for a loan.\u00a0 The next step is to place a bid on the house you\u2019d like to call \u201chome.\u201d\u00a0 There are some things you need to first consider before making a bid, as you want to be sure you make an appropriate bid on the house.<\/p>\n

Up first are your rights as a homebuyer.\u00a0 One great benefit you have as the buyer is the right to have an inspector investigate the house.\u00a0 By doing so, you\u2019ll be able to establish a proper, initial bid.\u00a0 Now yes hiring in your own home inspector will be additional fee but doing so could potentially help you save a pretty penny when making your bid.\u00a0 You should also know that virtually everything is negotiable when buying a home.\u00a0 Things like the closing costs and even appliances can be discussed to help save you even more money.<\/p>\n

The next step is to sit down with a real estate agent and do your homework.\u00a0 Meaning you need to consider the value of the area in your initial bid as you could end up with a great home.\u00a0 If it\u2019s located in a bad area or even a bad school district, you could easily end up bidding far more than necessary.\u00a0 Luckily, this is where the real estate agent comes in to help take off a lot of pressure off your shoulders.\u00a0 Part of their job is to research the area and provide you with all of the necessary information.<\/p>\n

When making the initial offer be sure to consider additional items; would you like the owners to pay for the closing costs?\u00a0 How about any home repairs needed?\u00a0 Like a broken garage door or maybe the furnace needs to be replaced.\u00a0 All things should be considered as your end goal is to save as much as possible on your potential new home.<\/p>\n

Be sure to give your self some breathing room when making that first bid as well.\u00a0 You don\u2019t want to max out your price range right away, as the owners are likely to counter offer with a higher bidding point because they want to make money too.\u00a0 Lastly you need to be patient.\u00a0 Playing the waiting game is a big part of bidding on homes.\u00a0 Unless a deadline is specified for the homeowners to come to a decision, they have virtually all the time in the world.\u00a0 So if you have to wait a few business days, then so be it.\u00a0 During that time it would be wise to maybe browse a couple other homes just in case a deal cannot be made.<\/p>\n

With all things considered, bidding on a house can be a pretty big step so if Riverbank Finance<\/em> could help you in anyway.\u00a0 Be sure to let us know.\u00a0 Need a recommendation regarding an inspector?\u00a0 How about pre-qualification for a mortgage?\u00a0 We can help with that and then some so give us a call at 1-800-555-2098<\/strong> or fill out the email form below.<\/p>\n

Help on your home bidding?<\/h2>\n\n
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