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Deciding to Buy

Purchasing a property is most likely the biggest financial decision you will ever make. Whether this is your first purchase or you are an experienced buyer, this decision must be made carefully

Why Do You Want To Buy?

Are you tired of paying rent? Have you decided to pay your own mortgage and not your landlord’s? Have you outgrown your current home? Are you looking for an investment portfolio? Are you looking for a rental property? Would you like a larger yard? Would you rather live in a different area? Do you want to shorten your commute? Having a clear sense of your reasons for buying will help you choose the right property.

Has Your Income Grown?

Property ownership is an excellent investment; whether you are looking for your dream home, a rental property, or to expand your investment portfolio. Owning real estate is one of the least risky ways to build equity or to obtain a greater return on your initial investment.

Couple with keys to their new home

Owning a home in Anacortes, WA is a dream come true for many Americans. The area’s natural beauty and friendly communities make it an excellent choice for anyone who wants to set down roots.

This guide covers the different steps to buying a home in Anacortes, WA and the surrounding areas.

Apply for a loan

Getting a pre-approval letter can give you an advantage over other buyers since it sends the message that you are qualified to buy a home and that you’re serious about making a purchase.

When applying for a loan, don’t hesitate to speak with multiple lenders. This will help you find the best terms possible.

Likewise, get your finances ready. Make sure you have enough cash reserves for the down payment as well as emergency expenses. The bigger your down payment, the lower your monthly payments will be.

Work with a Realtor

Mount Vernon, WA Realtors are your biggest allies in the buying process so don’t hesitate to reach out to a local expert. Your Realtor will help you stay on top of paperwork and find listings within your price range.

Whether you’re looking for a modest starter home or luxury Anacortes real estate waterfront property, an agent will help you explore your options in the market.

They can also offer emotional support during this trying process. Having worked with hundreds of clients, an experience Realtor knows exactly what you’re going through and will be sympathetic to your concerns.

Find a home

Finding the right property can be overwhelming given the sheer number of Anacortes homes for sale, especially during peak buying season in the spring or summer. But you can speed up the search by making a list of non-negotiables like location, price ranges, square footage, and so on.

House hunting can be easy if you know where to look – the Anacortes, WA MLS is a good start. Your agent can also give you access to numerous listings that match your criteria.

Don’t get carried away by the search. Some buyers will look at properties outside their initial budget or location. Stick to your list of non-negotiables when looking at homes.

Craft an offer

Though it’s common practice for buyers to make an offer just slightly below the asking price in hopes of getting a counter-offer from the seller, the general rule is that your first offer should be your strongest offer. This is especially true in cases where there are multiple offers on the home and when the seller isn’t in a hurry to make a sale.

Avoid low-ball offers. Many sellers take pride in their homes and might get offended if you place a very low offer. This might put them off negotiations entirely.

The key to crafting a strong first offer is research and preparation. Your offer price should be in line with average homes prices in the area. This is where market analysis comes in.

Aside from relying on market data, you also need to understand the seller’s motivations. If they’re selling because of life changes, such as a divorce, work relocation, or death in the family, then they might be more receptive to a slightly lower offer price if you can show them that you can close the sale quickly.

However, if you’re dealing with a seasoned property investor, they might not be in a hurry to sell the property and will wait for the right offer to come along.

Your agent will give you access to market data and help you anticipate the most likely scenario.


Now comes the tough part – negotiating with the seller. The seller will naturally want to secure the highest price possible while you, on the other hand, might want to negotiate lower if the property requires additional repairs or extensive renovations.

Because of these conflicting interests, you must learn how to negotiate. Your agent will advise you accordingly. An experienced agent knows when to make concessions, when to play hard ball, and when to walk away from the negotiating table altogether.

When negotiating with a seller, do your best to remain objective. Maintain your composure at all times. But most importantly, don’t take any of it personally.

Your agent will act as a buffer between you and the seller to prevent unnecessary conflict. They will also help you stay focused throughout the negotiation process. Trust their judgment – they will protect your interests during negotiations.

Get a home inspection

One of the most common mistakes homebuyers make is not getting an inspection. Neglecting to do this can cause buyer’s remorse later on when you discover that the home has hidden defects.

Hiring a professional inspector is a crucial step in the buying process. This will help you uncover any potential issues with the basement, furnace, foundation, and other aspects of the property.

Upon receiving the report from the inspector, you can decide whether to push through with the offer or walk away from the deal.

If you’re buying a luxury, you will need separate inspections for property features like outdoor pools and ball courts.

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  • What to Ask Your Real Estate Agent when Buying a House
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    Get the most out of your experience by asking the right questions. In this article, you’ll learn all the important questions to ask when purchasing a home.

Ready to take the first step towards homeownership in Anacortes, WA? Get in touch with us, Jean Groesbeck & Associates, here. You can also reach us at 360.941.3734 and Info(at)JeanGroesbeck(dotted)com.

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