Buying or selling a home? Do these things, according to a Realtor

While buying or selling a home can sometimes seem like a daunting process, it doesn't need to be overly confusing or complex.

Steve Gunter, a broker with Coldwell Banker Howard Perry and Walston, shared his ultimate "to-do list" for home buying and selling that will help you avoid any pitfalls.

"There's limited inventory in today's ultra-competitive housing market," Gunter pointed out. "To increase the odds of landing your dream home, secure a pre-approval letter from an established lender. The lender will request detailed information about your finances, credit and employment. Yet, completing this added bit of homework will help you to determine your home buying price range, as well as to differentiate your offer from any competitors who forego the pre-approval process."

Avoid the temptation to visit open houses before you have your pre-approval letter in hand.

When shopping for a new home, consider your future needs. Do you plan to grow your family? If so, does your dream home have enough bedrooms and bathrooms to accommodate future needs? Likewise, when additional drivers join the family, will the driveway be large enough to accommodate all vehicles?

"Small things can make a real difference in determining the right home for you and your family – for today and tomorrow," Gunter cautioned.

"Home inspections are very informative," Gunter said. "It's helpful for potential homeowners to see what's going on in the crawl space. Being present for the home inspection is also educational; it teaches about both regular and preventative maintenance."

Gunter has a long-standing tradition of reviewing the costs of home insurance, private mortgage insurance and homeowners' association dues with clients. He also takes the time to discuss down payment minimums, as well as the importance of negotiating repair costs.

"Those costs are always a part of our initial conversation," Gunter said. "I want my clients to avoid all financial surprises at closing."

Avoid the potential danger of forming an emotional commitment to a lending institution.

"Even though you have a comfortable relationship with a lender, there may be others who can provide a more competitive offer and save you money. It's important to shop around," Gunter advised.

Does your home look great, smell great and is it clutter free?

"Make sure that you present a pristine product that is ready for sale versus a property that looks lived in. In the world of home buying, first impressions are crucial," Gunter said.

Gunter encourages his clients to reinvest 1 percent a year in updating their properties.

"Then, when they do sell, they don't have to make all the updates at a single time or take a price reduction," he said. "An updated home offers both a financial and a competitive advantage when it is time to sell."

If needed to line up your next housing option, request a 45- or 60-day closing for the sale of your home.

When pricing your home, consider its appraisal value and be realistic in your price setting.

"Overpricing is the number one reason that properties remain on the market," Gunter warned.

Refrain from accepting your first offer or trying to rush the process. Remember that a better offer or terms may only be a day – or a few hours – away.