When it is time to look at homes it is important to be prepared. Before looking at any house there are a few question that should be answered. One of the first is to be sure the home is available. Many times a home may have come under contract very recently. Your agent can make a quick call to the listing agent to ensure that the home is currently available and that the seller is still considering offers. Another thing buyers should know before looking at a potential home is whether it matches their financing type. For example, if a buyer is approved for an FHA loan it is important that the home be listed, under 'terms' as eligible for FHA financing. If the home is offered as 'cash' or 'conventional' it may have an issue that would make it unavailable for an FHA loan. Most times this would be a physical condition issue, such as peeling exterior paint, that would cause the home to fail an FHA appraisal. Finally, it is usually a good idea to ask about the comps for the area around the house. Your agent can pull up a quick analysis of what homes are selling for in the neighborhood and this will help the agent and buyer be able to tell if a home is priced well for the area. Looking at homes that are available, that fit the buyer's financing and are priced correctly for the area will cut down on wasted time, energy and disappointment. Stick to the ones that make sense!
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