Buying a home can be an exciting adventure full of possibilities. This is true for the first time buyer, second home buyer and even the investor. We each have our own criteria of what is important in our home according to our lifestyle and preferences. We each strive to get the most value for our dollars with strong potential for future appreciation.
Pre-approved for a Mortgage
At Eillu, we recommend our buyers to get pre-approved for a mortgage at the beginning of the process. Use our Mortgage Application Checklist to gather all your information and prepare. This will clarify what you can afford so you don’t fall in love with a home that is out of reach. It helps to focus your search and compare apples to apples. As a buyer, it will put your offer in a stronger position against another offer where there is no pre-approval. This means, all things being equal, a seller will prefer and accept your offer.
List “Must Haves”, “Want”, and “Won’t Have”
It is very helpful to have a definitive list of “must haves”. These items should be written down and each property under consideration should be evaluated against the criteria. Each person’s list will be different. For example, you may only be considering homes in Corolla or even limit it to a single community. Someone else may only consider homes within 1,000 feet of the beach access. Another person may only consider 5 or more bedrooms and a private pool with strong rental history.
You should also include a list of “like to have” and even “won’t have”. Having these items spelled out and agreed to by partners will make the decision process much easier once you are viewing houses online or in person. It provides objective criteria to remove a home from consideration or to keep it for further consideration. For example, some people would never consider buying a home next to a cemetery while another believes it makes for quiet neighbors. The more specific you can make these lists the better you will be able to spot the gem that comes along and tics all your boxes so you can act fast.
Get a Dedicated Eillu Buyers Agent
An Eillu Buyers Agent will help you create your list and may ask you about items you never thought of. Did you know the nearby water treatment plant has a distinctive odor and you may notice it when the wind is the right direction? The wind direction may not bring the odor on the day you tour the house but the Real Estate Agent is likely to know.
Signing a Buyers Broker Agreement with an Eillu Agent provides you with valuable services and a 25% rebate of the Buyers Agent’s commission at closing (up to $5,000).
Working with an Eillu Buyers’ Agent will save you money. Typically, the seller pays the real estate commission of 6%; with half going to the listing brokerage/agent and half to buyers brokerage/agent. Your Eillu Buyers’ Agent will share 25% of the commission with you. So, if you purchase a home for $500,000, the rebate is $3,750! You can use this money toward closing costs, home improvements or any way you wish.
Full Service Buyers Agents
Your Eillu Agent is your trusted adviser. He or she can help guide you through the loan pre-approval process. Your agent reviews new listings every day and will immediately email you any new listings that meet your criteria. If you are interested to see the listing in person, your agent will schedule with the listing agents and make an appointment for the showing. Of course, the agent will also tour the home with you and point out observations during the visit. Your agent will also research comparables so you will know that you are not over paying for the property. When it comes time for you to make an offer, your agent will make sure all the i’s are dotted and the t’s are crossed. Your agent will be there for you during the inspections and will be by your side if the inspection revealed conditions requiring further negotiation. Your agent will “high five’ you at the closing or the finish line and you will get your rebate at closing. The first of many happy transactions to come.
Typically, Buyers Agent agreements are for a year, but if you prefer a shorter term, we will shorten the agreement accordingly. In fact, if you are unsatisfied with the service and want to be released from the agreement, just ask. We are here to help. Our rebate is a way to help you with closing costs or move into the home with funds available for the first special project. It is our way of saying “Welcome to the community, we’re glad you’re here!”
If you are relocating to the Outer Banks, buying a vacation rental home, purchasing a second home or purchasing a permanent home in OBX, now is the time to act. The past few months has shown remarkable activity as revealed in the Outer Banks MLS Statistical Report.
The Outer Banks rental market continues to be strong to provide income from the investment and enjoyment for the family for years to come. OBX continues to be named a top beach destination every year. Call today to schedule an appointment and get your Eillu Buyers Agent today.