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PORTLAND
OREGON
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Portland Real Estate Facts / How to Buy and Sell
Qualifying the Buyer for your Portland Property
Either you or your agent will want to weed out potential buyers who cannot afford to purchase your Portland home. Items to investigate include the buyer’s debt and credit history, current income and employment, the availability of cash for a down payment, the time the buyer needs before closing on the home and the buyer’s level of interest in your home as compared to other properties.
Portland FAIR MARKET VALUE
When you buy Portland real estate or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser uses the Rule of Three. What that means is the lender wants to evaluate three "comparables"—recent sales of nearby homes that are very similar to the one you are buying. Based on this information, the lender will make adjustments to reflect the differences between the properties and arrive at a fair price for your home.
Portland Home Buying Pitfalls
Buying your Portland home whether you are a first time buyer or an ‘Old Pro’ involves legal, financial and emotional considerations. The more you know about the most common buyer mistakes in Portland, the more likely you are to avoid them.
Make sure that when you put in an offer on any Portland home that you have spent time narrowing down just what you are looking for. When the sellers accept your offer, you are involved in a binding contract that could cost you your deposit and other damages should you decide to back out. The opposite scenario, waiting for the 100 % perfect home can be an exercise in futility. With the thousands of variables available in housing, including location, style, size, amenities and condition, perfection is almost always an unreasonable goal.
Portland: Art and Science
Buying a piece of Portland real estate is a science but buying your Portland home is an art. The science part involves getting the legal and financial parts down while the art is finding the Portland property that you’ll be happy with.
The total universe of possibilities within the universe of Portland real estate is quite diverse but narrowing your search ahead of time will help keep things in perspective.
In general there are two phases to any Portland real estate search. In the first phase, you get a feel for the different areas and an idea of what is being offered at what price. In the second phase, you search for the Portland real estate that meets all or most of your specifications.
Portland SEARCH
The easiest way to start your Portland search is to use the online search capabilities on this Website. This will give you a snapshot of all the homes that are available in your price range, with the amenities you require and the locations you might consider. Next, make contact so that a knowledgeable agent can help you narrow your choices and take you on a personal tour of your best options.
Portland SALES
When you are thinking of buying Portland, it may make sense to get a clear picture of the Portland market before you get too far into your search. It is important to know the current market’s strengths and weaknesses so that you can make wise real estate decisions accordingly.
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