6 rules for smart home buyers

While this new book contains some real lame and generic stuff it is organized in such a way as to make it a good flip through for ideas for your own best buyer practises and recommendations.

March 17, 2006) -- Elizabeth Razzi, author of The Fearless Home Buyer, offers these rules worth sharing with first-time (and even repeat) home buyers.

• Don’t reject a home because of outdated appliances. Buying all new ones costs a few thousand dollars — a drop in the bucket compared to the total cost of the home.
  
  
• Give the commute a try. Early one morning — in the rain if possible — drive to the neighborhood and then to work. How long does it take? How awful is the traffic?
  
  
• Give your real estate professional enough time to present the offer in person. It’s hard to say no to an enthusiastic practitioner when she’s looking you in the eye.
  
  
• Put everything that you really want in the purchase offer, including light fixtures, play sets, appliances.
  
  
• Build escape hatches into the offer, including contingencies for home inspections, appraisals, and financing that give you an out.
  
  
• Don’t rush the lock-in date. Schedule closing for several days before your interest rate lock expires. If the closing is delayed, you won’t be facing a higher interest rate.

Source: St. Petersburg Times (03/11/06)