The scam goes like this: you’ll receive an email that appears to be from an individual legitimately involved in the transaction, informing the recipient-- often the buyer--that there has been a last minute change to the wiring instructions. The victims of this scam follow the new instructions and wire funds directly to the hacker’s account. The scammer’s account will be cleared out in a matter of minutes and the money is almost always lost forever.
This time of year is one of the busiest for agents when it comes to closing on homes, so this is exactly the time of year that we tend to see an increase in this type of scam. Though none of EZ Home Search’s clients or agents have been involved in the scam, we like to inform our buyers just in case.
If you do find yourself in the middle of this email scam, there are ways to prevent yourself from being a victim. These tips include:
If possible, do not send sensitive information via email. If you must use email to send sensitive information, use encrypted email.
Never click on any links in an unverified email. In addition to leading you to fake websites, these links can contain viruses and other malicious spyware that can make your computer – and your transactions – vulnerable to attack.
Growing up, most of us imagined living in a home that we owned. A home that we could decorate to our perfection, and a place with a big enough backyard for the kids and dogs to run free in.
For many though, it is hard to take the leap and buy a home. That is why here at E Z Home Search Real Estate we want to give you a comprehensive buying guide so that you don’t feel alone when you start the search for your perfect home.
In the last 3 parts of this guide we discussed the the top reasons to buy a home, five tips that you should know before you make the purchase, and the process of picking a qualified agent. In today’s blog, we want to give you the 10 steps to buying a home so that you will feel well prepared when it comes time to purchase your dream home.
1. Get pre-qualified with a lending specialist
2. Shop for your dream home with a real estate professional
3. Choose a top 2 list-- this is a list of the top two homes that you saw during your house hunt. It is good to have two homes in mind just in case the sellers of your first pick accept someone else’s offer.
4. Place an offer on your first pick home
5. Be prepared for a counter offer
6. Sign and date the effective contract
7. Take note of the option period
8. Order inspections and negotiate repairs
9. Terminate or proceed with the contract
10. After final approval, go to closing to sign and own your new home
On top of the 10 steps listed above, you will need to consider the following costs. These are fees that you can expect to have to pay throughout the homebuyers process, so please plan accordingly.
• Earnest money – typically 1-5% of sales price - the amount of earnest money is negotiable and varies with the value of the property
• Inspection fee - $450 - $550
• Appraisal - $325-$425
• Credit report - $125
• Buffer money - $100 - $350
The thought of becoming a homeowner can be overwhelming. Our goal is to take the stress out of the unknown. We have additional FREE resources for you available in the buyer area of our website. Plus you can get a FREE copy of our insiders home buyers guide simply by visiting http://www.ezhomesearch.net/buyersecrets.
Do you have any advice from your own experience that you would like to add for future buyers? If so, comment below!
Mariah Terry is passionate writer and blogger studying Journalism at Emerson College with a minor in Marketing. See her work at mariahjterry.wix.com/reblogs.
This is Part 2 in our guide to help you through the process. Below is a list of buying tips for when you purchase that dream home of yours!
Get Pre-Qualified-- Knowing what exactly you can afford is the first step to seriously considering buying a home. Sometimes though, it is nerve-wracking and overwhelming to think about how you should go about getting pre-qualified. That’s when we come in. Here at E Z Home Search we can get you in touch with professionals who will work with you to get pre-qualified!
Always Think Resale-- The average time spent in a home is 5 to 7 years, so you should consider what future buyer might be looking for if you do ever decide to sell your home. Even though you might not mind having a backyard against a busy street, future buyers may. Studies show that homes near busy streets and railroad tracks take longer to sell, so it is something to consider when purchasing your home.
The Little Things Can Be Changed-- Location, location, location. The home is in the perfect neighborhood but all of the lighting fixtures are from the 1980’s and there is still wallpaper on the walls. Guess what, though? Wallpaper can be changed, the neighborhood can not. So pick a home with good bones in a great location and deal with the little cosmetic things later!
Don’t Wait-- Yes, buying a home is a huge decision. But, all too often we see people lose their dream home because they wanted to sleep on it and they waited too long to put an offer in. Homes sell fast. Especially the homes that are in a good location with a great price. Chances are, if it is your dream home then it’s someone else’s dream home as well. So if you find that perfect place, don’t wait and let it slip away!
Compare Sales-- To see if the home you want to buy is a steal or a rip off you can look at the recent sales of similar homes, called “comparable sales. Comparable sales are recent sales of homes that compare closely to the one you are looking to purchase, usually sold in the past few months. Specifically, you want to compare prices of homes that are similar in square footage, garage spaces, number of bedrooms and baths, lot size, etc. Of course, if you need help with this, that is what we at E Z Home Search Real Estate are for!
Don't miss Part 3 of our Home Buyers Guide where we review questions you must ask your agent before you buy!
Do you have more tips from your home buying experience? Comment below and let us know!