Here are some important tips to be ready to make a strong offer when you find the house you really want:
Be a Pre-Approved Buyer:A pre-approved buyer always has the advantage in an offer situation. Becoming pre-approved is very easy: you complete your loan application with a credit check prior to beginning your home search process. Pre-approval means that you have actually been approved for the purchase by a lender, which gives you the edge in home purchase negotiating. Click here for an online application.
Beat The Competition to The Best New Listings: The search process can be both fun and trying. You will notice that s
ome homes sell very fast and others hang around for long periods of time. The best homes at the best prices sell fast. Keeping on top of this is essential. Connect with a professional Real Estate agent that knows the market and keeps you updated. You can also set up Listing Alerts to notify you when new homes that match your search criteria come on the market. Click here to create an account and set this up.
Do The Research: Make yourself a “home value expert.” Investigate the areas and price ranges for the kind of home you are looking for. Get a good idea of the price ranges these homes sell for and how long the market time is for them. Your agent is a great asset here.
Prove That You Are a Serious Buyer: The best way to accomplish this is with strong earnest money. This might mean that you put 5% or more down to get the sellers attention.
Don’t Go Crazy: Even in a hot market, be cool and calculated with your decisions. A knowledgeable agent can really help you here. Your home purchase may be your single largest investment. It is important to make sure that you get the best deal possible. Overpaying now will make it harder to get your value back when you sell.
Keep Your Offer Simple and Clean: Make sure that your contract to purchase is simple, clean and not bogged down with unnecessary contingencies, especially repairs. Keep the time frames of repairs and responses to a minimum. The cleaner your offer, the more interested the seller will become. This may help you purchase the property at the best price.
Don’t Wing It Alone: What you need most in today’s complex marketplace is an experienced and professional real estate agent who represents your interests only. No matter how heated the competition or the negotiations, a professional agent will represent your best interests, keep you from paying too much and help you maximize your investment.
Follow these tips and you’ll be in your dream home sooner than you may think is possible. Are you looking for an agent to represent you and your best interests? You, the home buyer, will pay very little or nothing for a professional agent. All or part of their fees are paid for by the seller. Click here to contact us today and find out how we can help you find the most house for the best price.