Fred McGill is the co-founder of SimpleShowing, a real estate startup disrupting one of nation’s biggest industries by putting the consumer in the driver’s seat and helping home buyers and sellers save thousands of dollars in commissions.
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Top Tips for Buying a Home
What is your biggest piece of advice you can give to someone trying to buy their first home now
– Look for properties close to a fast growing area but not inside that area because you may pay around 30% less and that property will appreciate faster than in other established areas. Wait at least 5 years to sell to see good results.
What have you seen are the top mistakes homebuyers make? How can they avoid them?
– One of the top mistakes is that buyer don’t shop for enough lenders. You should ask 3 lenders at least to save money on your mortgage.
What could help first time home buyers save time?
– It really depends on the inventory, but I would say check the area and the community first. You can check the area with Zillow and with Google Earth, the street view.
What could help first time home buyers save money?
– Shop for several lenders, at least 3
– Get to 0% closing costs as much as possible. Negotiate and shop for all of them. You can do that by asking the seller to pay for the closing costs (or some of them) and getting a buyers refund from your agent.
How can first time home buyers choose the best professionals to work with?
– Regarding your agent, don’t work with a family member or a friend because they usually don’t do much volume of transactions, which is really important. If they do less than 6 transactions per year, don’t go with them. Look for an agent that is doing this work full time and at least 1 or 2 deals per month.
– Regarding your inspector, you can trust the reviews in Google to find a great one.
-Regarding your lender, check at least 3: one from an online bank, like Rocket Mortgage, or Better, one from a local lender, for example the bank that has your checking account, and one from a broker, because he will be able to request quotes from many lenders. That way you’ll get the best possible rate for your mortgage
The Ask: Is there anything we can do for you?
– If you ever need any help, contact me!
– Twitter: https://twitter.com/freddymcgill
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