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Five Tips for Smoother Home Buying

Low interest rates and a slew of "For Sale" signs have made this an opportune time to buy a home. But there are a few things to keep in mind before you begin searching for your future abode.

1. Get a mortgage pre-approval letter from a lender in the amount you plan on spending. You will be more attractive to buyers because the letter shows you have the financial means to purchase a home.

2. Check out as many homes as possible in the neighborhood you're interested in. Have your agent ask questions and determine factors affecting its purchase price including information on relevant repairs and upgrades and warranty information. Make sure to clear up if items like swing sets, appliances and fixtures are included.

3. Be a fair negotiator. Don't bid too high or too low from the outset. Rather, keep in mind how much the owner originally paid for the home, market conditions and personal circumstances.

4. Determine how much you can afford to spend before you go looking. Often, this amount will be less than the amount you received approval for. It's important to know your financial limits before looking and stick to your budget. Get everything in writing regarding offers, options, and buyer's inclusions.

5. Don't be overly demanding. The fewer contingencies, the more attractive you are going to be compared to other buyers. Motivated sellers may be willing to throw in incentives to ensure a smooth deal as well. Ask your real estate agent to negotiate on any cosmetic issues, repairs or renovations needed prior to making an official offer.