We are now experiencing a Seller’s Market in some segments of the real estate market, so we want to be sure we are consulting and advising buyers on how to best deal with this changing landscape.
If you are a Buyer, here are some top tips to ensure you secure your dream home!
Do your homework.
Loan Approval
If you submit an offer without a pre-approval, your offer may not be considered at all or it could stall the Seller’s response
Once you find your dream home you’ll be writing an offer and your offers should always be accompanied by a pre-approval letter from your lender.
You want to decide what you can afford and what you WANT to afford.
Before you start looking at homes, be sure to get pre-approved.
Determine key goals
Determine location goals – Research neighborhoods and areas you want to live in.
Determine home goals – size, style, condition.
Partner With An Experienced Agent
We are seeing more bidding wars
The price threshold for bidding wars has gone up since last year.
Experienced Realtors know how to best negotiate in a bidding war situation.
Contract negotiation isn’t just about price.
Experienced Realtors know how to negotiate the price, in addition to terms and conditions to ensure you get the best overall contract negotiated.Determining the best home to purchase
Little things like earnest money, closing dates, down payment, inspection periods and other nuances to the contract can also influence sellers and sometimes can produce an overall better contract for both parties.
Determining the best home to purchase
An experienced Realtor knows the inventory and can give advice about pro’s and con’s for each home you’re considering.
Decision Making
If you find the right home and are considering an offer, you may regret not acting more quickly.
Many Buyers are missing out on purchasing their dream home because they want to think about their decision and by the time they are done thinking about it, the house they wanted it gone.
Considering your options and feeling confident about your decision is important, so doing your homework about neighborhoods and your wish list is important, but once you are serious about shopping and purchasing a home, you want to be able to act quickly.
It can be emotionally frustrating if you continually miss out on purchasing the home you wanted because you took too long to decide.
The bottom line is you want to be prepared, do your homework and then be ready to make a decision when you find the right home. If you need help buying a home in today’s market, give Holly a call at 480-266-8785 or holly@henbest.com.
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