Tips For Buying A House In A Hurry – Without Regrets
Buying a house in a hurry isn't advisable, but what if you need to do it? If you really need to buy a house in a hurry, take the following precautions to safeguard your investment:
Hire an Experienced Agent
You can buy a house without an agent, or use any agent, but not if you are in a hurry and don't want to waste money. Without an agent, you can take ages to navigate the inevitable mountain of paperwork, such as a record of the deed, transfer tax declarations, and the seller's affidavit, among others. Also without an agent, you may encounter more "hidden" charges that an agent would have revealed to you—and what happens if you don't have the money for these "additional charges"? Getting an agent will definitely hasten the process.
Don't Skip A Process
There are important stages of buying a house that you shouldn't skip, even if you want to close the sale fast. This may seem counterintuitive, but it is good advice all the same. If you skip a process, you may have to come back to it later on when you realize its significance, and that will only waste more of your time. The trick is to do everything as fast as possible but not to skip anything. For example, if you have a week to submit a document, do it the next day (as long as it has been properly prepared) so you can move to the next stage of the process.
For example, you may omit contingencies in a bid to hasten the process may seem like a good trick, but not when you later realize you cannot insure the house because of its toxic-mold history? Another example of an omission that can come back to haunt you is preapproval; for example, you may start house hunting without a preapproved loan only to realize later that sellers just want to work with buyers with pre-approved loans.
Identify an Inspector Early
The last piece of advice is to identify the home inspector you want to work with as early as possible. That way you won't find yourself running up and down looking for an inspector when the time comes. Don't forget that reputable home inspectors are in high demand, so you may miss out on them if you delay.
A thorough home inspection is necessary before closing the deal; it is even more important if you are buying a house in a hurry, due to the heightened risk of making a mistake. Therefore, you need to find an inspector and line them up even before you get to the home inspection stage. That way, you still get your home property inspected when the time comes.
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