FINDING A PROPERTYPrepareing For Your Search
Be
prepared for sticker shock when looking for a property; the value will appear to
be very low if you are moving to California from other parts of the United States. It
might take a little while to establish a feel for the value of California's market. Be
prepared to look at a number of properties during the search process. You should also
consider that this purchase may be an interim one, and you will look for that ideal
property in a few years.
Before you start looking, sit down and write out a list of your needs.
Establish what is absolutely a must and what would be desirable. Basic needs should
consider a minimum number of bedrooms, baths, maximum price, cities or neighborhoods,
minimum house size, lot size, traffic, schools, shopping, and condition of property, etc.
Searching The NET Real Estate Way
Finding a property the NET Real Estate way
is very simple. You define your needs, and we will provide for you a descriptive list of
all properties on the MLS that match your needs. We will also give you maps
showing their locations. (Our mapping is unique to NET Real Estate,
and makes your search much easier). Once you receive the lists and the maps the process
goes as follows:
- You drive around and view the properties
- You select the properties that interest you
- NET Real Estate provides you with the details on
the individual properties
- NET Real Estate sets up an inside tour of all the
significant properties
This process continues until you select a property on
which to put an offer. The next step is to get a offer price. This is addressed in another section.
Finding A Fixer-Upper
The
best way to find a "Fixer-Upper" is to refer to the
information on our lists under the "Dollars per Square Foot" column. Listings
that are obviously below the average rate for the area are probably in need of some
"TLC". Be aware that a lot of people are searching for these properties, so you
must be ready to move fast when a good one comes on the market. It would be a good idea to
get a loan "Pre-Approval" before starting this kind of search.
REO'S and Foreclosures
Many of our clients
ask us to help them find properties that are in foreclosure. Most foreclosures are listed
on the MLS like any other property. The banks have working relationships with individual
agents who sell these properties. The individual agents set a price and put them
on the market. Be aware that many foreclosures may have significant problems. The banks do
not have to provide a "disclosure" statement to the buyer, and they are not
required to disclose any problems to the buyer. There are good buys out there and
potential problems. Just remember that the banks are trying to recover
their costs and if they can, make money on these types of
properties.
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