With a decrease in the amount of Homes Listed For Sale in the Charlottesville VA area, some buyers are asking to see homes considered “Fixer Uppers.” There is a tremendous opportunity to buy a home that needs work, get it at a great price and be able to fix it the way you want. The problem is a lot of Buyers do not have a realistic expectation of what a “fixer upper is, until they start seeing some. The second problem is many buyers can not estimate properly what repairs cost. A home that needs the most cosmetic work, can cost less than a better looking home that needs more repairs such as roof, furnace, electric or plumbing.
What you can see is easy to estimate such as paint, carpets and cosmetics. It is what you can not see between the walls that should scare you.
A “fixer upper” is NOT for every buyer. They have to have the time, resources, ability to get a mortgage that will allow you to buy a home in need of work and lastly have the ability to see through the work and imagine what the home will look like finished.
Buyers should know that All Agents are nNOT created equal and every buyer or seller should take the time to hire the BEST not just the biggest Agent or Company. It is important to Hire the BEST Agent. In Charlottesville that could be RE/MAX Realty Specialists.
Our TOP TIPS FOR BUYING A FIXER UPPER
1. CHOOSING THE RIGHT BUYER BROKER: As a home Buyer in this market you need every advantage you can to get find, buy and close on your DREAM HOME. It starts with choosing the right agent – the Realtors at RE/MAX Realty Specialists have been trained and many have been flipping properties themselves. They know what to look for and properly evaluate a fixer upper.
a. Using a Full time agent whose sole job is in Real Estate – RE/MAX Realty Specialists have a large number of agents that work full time.
b. Using a Full service agent who will guide you through each step of the BUYING process. Discount brokers often equal discount services, RE/MAX Realty Specialists are full service, with a primary vision of providing better service than any other Charlottesville Real Estate Company or Agent
c. Using a Local agent who knows your neighborhood and is readily available when you need them is a must. Out of town agents can leave you high and dry in your time of need.
d. Using a well experienced Buyer Agent can give you the advantages you need when Buying your home. Not all agents are created equal. Choose only the best..
2. GET PRE-QUALIFIED: Before even looking at a home you should get pre-approved for a loan. Few Sellers will look at your offer without it. Meet with a local and trusted mortgage broker, they can prequailify you at no cost, they will look at your credit plus your financials and let you know if there are any mortgages that you may qualify for. You should then tell them you are looking at bank owned homes so they can provide you with a list of what condition the property needs to be in for you to be able to get a mortgage. RE/MAX Realty Specialists has partnered with Movement Mortgage. You can get prequalified fast, free, and online by clicking here.
IN CONCLUSION: There is a lot of behind the scenes work going on with the purchase of a home. If you did not notice most of these steps, I did a great job. With the decrease in Listings, there is pressure on Agents to provide more service. For agents who have been providing a great service to their clients throughout the last 4-5 years they are being rewarded as home sellers and buyers talk, they let each other know who did the great job or who dropped the ball. As you see it is no accident a home sells. It is through the hard work of the agent.
As a consumer you have a choice. Avoid the thinking that bigger is better. You deserve the Best and that is having some one guide you through each step of the Buying process. If you are looking to purchase a property in Charlottesville, you can choose RE/MAX Realty Specialists. We strive to offer the best in personal and professional service through EACH step of the BUYING process