Mani Singh
GIVES YOU THE REAL ESTATE ADVISORY YOU NEED Whether you’re a first-time home buyer or a seasoned investor, there are many factors to ensure you’re making the right decision about your pur- chase. If you have ample questions about the process, you are not alone. That said, we checked in with Coldwell Banker’s Mani Singh Bhachu to get his expert opinion on your need-to-know- questions in reference to buying real estate here on the Peninsula and South Bay. What are the top three questions buyers should ask about a home they’re interested in? Mani recommends asking the following questions: • Have there ever been any floods or water damage in the home? protect you from the unknown. Hiring a professional inspec- tor is important to identify any red flags and any unreported issues that could pose a problem down the road. “It is com- mon for sellers to provide disclosures such as home inspec- tion and pest reports on the home. These should be carefully reviewed and scrutinized. Some notes may seem foreign, but the key is not to be shy. When in doubt, ask your realtor or better yet, the inspector who performed the inspection! When should I speak to a lender? “Excellent question, I think right away” says Mani. “What you don’t want to do is find a house first. Even though that might seem to make the most sense to you. Buy- ing a home is a massive decision. No one will know your fi- nancial situation better than yourself”. Your lender will delve into your financials and perform a risk ratio to give you a rough idea of your monthly mortgage based off your income and savings. From this you can see if you are finan- cially capable of ascertaining a loan over a long period. Everyone wants to buy a home, but you also want to sleep peacefully at night. You need to be 100% sure with your com- fort levels financially before buying a home!!” Is the Bay Area real estate a good investment?
• Have there been any major improvements or repairs to the home and if so, were professionals used and do you have the proper permitting? • What is the age of the mechanical systems? What are your best tips to help a buyer negotiate the best price? “Use a realtor,” says Mani. “A realtor has access to a wealth of information and has the proper skill set to help you make an informed decision to protect your best interests and negotiate the best price." How can a buyer make their offer stand out? “Every situation is different and as such, every offer will be unique,” says Mani. “Your realtor is there to guide you and gauge how to best con- struct your offer to suit the negotiation at hand. This is a very relationship led industry. Your real- tor will know your story, build a rapport with the other realtors involved and be able to present you in the best light possible." “Being fully underwrit- ten by a favored lender goes a long way in putting you in a position of strength as a credible buyer.” How can a buyer get a comprehensive overview of the home’s history? “Working with a profes-
“Absolutely. The Bay Area remains a solid market for homebuyers with strong job growth, a young workforce, and a long-term sustainable local economy. This coupled with low interest rates is still a good time for homebuyers to pur- chase real estate”. To rent or to buy? “It makes a lot of sense to own real estate finan- cially.” “With a fixed mortgage payment, a portion of the payment is paying the loan down each month, thereby building equity for your future.” Homeowners can also deduct mortgage interest and property taxes when they file their tax re- turns. And above all you treat your home as an investment especially as property prices appreci- ate over time. You also have advantage of customiz- ing and upgrading the property over time because you own it!”
For more information on the home buying process Mani Singh can be reached at (650)888-0098 or emailed at mani.singhsf@gmail.com.
sional realtor will enable you to have access to comprehen- sive history and reports of the home” says Mani. “A re- altor will utilize propri- etary search tools to help
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