San Clemente Real Estate Listings
San Clemente Home Buying Pitfalls
Buying your San Clemente home whether you are a first time buyer or an ‘Old Pro’ involves legal, financial and emotional considerations. The more you know about the most common buyer mistakes in San Clemente, the more likely you are to avoid them.
Make sure that when you put in an offer on any San Clemente home that you have spent time narrowing down just what you are looking for. When the sellers accept your offer, you are involved in a binding contract that could cost you your deposit and other damages should you decide to back out. The opposite scenario, waiting for the 100 % perfect home can be an exercise in futility. With the thousands of variables available in housing, including location, style, size, amenities and condition, perfection is almost always an unreasonable goal.
San Clemente Disclosure Rule
Tell All is definitely the rule for anyone who is selling San Clemente real estate in today’s market. Let the Buyer Beware can easily come back and bite you in a delicate spot—your pocketbook.
Today, those selling a home or any San Clemente are expected to disclose all known material defects that are not readily apparent to the buyer. A Material Defect is usually a physical condition that would affect a buyer’s decision to purchase the home or what price to pay for the home. A leaky roof is definitely a Material Defect. If a San Clemente seller tries to disguise the leak by painting the interior ceiling and walls without fixing the leak, the truth will come out the next time it rains. Chances are the first call the buyer makes will be to his attorney.
San Clemente Homebuyers Quandry
First time San Clemente homebuyers have their issues to deal with and homeowners who want to move up, down or sideways have an entirely different set of problems. A homeowner’s first task is to counteract human nature. Humans must be genetically programmed to find their next home and then scramble to sell the one they have so they can afford the one they want. The San Clemente market is no exception. Of course, this is contrary to good sense but since most people will go ahead with the Buy then Sell approach.
Before You Buy Your San Clemente Home
Whether you are a first time buyer or someone who is moving up to a more expensive home it’s a good idea to start by cleaning up your credit report. Let’s say you apply for a loan to purchase an San Clemente condo, town home, single-family home or any type of San Clemente. The lender will check out your monthly income and outgo to determine if you can afford to repay the loan. Therefore, it is to your advantage to pay off as many high-interest consumer loans as possible. If you are planning on buying a car, a boat or other major purchase, put it off until after you have bought your selected San Clemente real estate. Lenders look for certain patterns they consider red flags. These are: late payments, overextension, liens, garnishments and, of course, bankruptcy. Remember, debts reduce the amount of cash you can spend on the San Clemente you want to buy, so clear the decks as much as possible before applying for a loan
Buying a San Clemente Fixer-Upper
Finding the right San Clemente fixer upper often involves finding a seller who is in financial difficulty and wants to sell in order to protect their credit or to avoid foreclosure. Various government agencies such as VA, HUD, IRS and others offer homes in foreclosure for sale and these homes can make excellent fixer-uppers. Bank owned properties known as REOs, real estate owned, offer good opportunities since financial institutions want to eliminate their real estate holdings by selling foreclosures quickly.
Join my network of San Clemente buyers looking for specific types of properties. Call or Email me today.
San Clemente SALES
When you are thinking of buying San Clemente, it may make sense to get a clear picture of the San Clemente market before you get too far into your search. It is important to know the current market’s strengths and weaknesses so that you can make wise real estate decisions accordingly.
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