You’ve heard all the buzz:
It’s a seller’s market. Inventory moves fast. Sellers are getting multiple offers.
Wondering if you can still buy your dream home? You can! With a little preparation, you can make the best offer possible.
Hire a Great Real Estate Agent
It’s no surprise that our top tip is to find a good real estate agent. He or she should have a solid understanding of the market (including how much homes like the ones you’re interested in are generally selling for), be proactive, and communicate well.
A mortgage pre-approval (different from pre-qualification) shows that you are a serious buyer and that you have the ability to move quickly. A pre-approval requires that the lender verify your financial information and serves as a commitment to lend you a specified amount based on that confirmed information.
Make a Simple and Strong Offer
In a fast-moving market, if you find a home that you love, if you find the perfect home for you, it’s not the time to try to negotiate a bargain or make a lowball offer. Your real estate agent will be skilled in writing a compelling offer, but aim to make your offer as simple and straight-forward as possible. The fewer contingencies that you have put in place, the better.
Ways to do this: be prepared to schedule inspections quickly or offer flexibility if the sellers need a quick closing. If you can find a way to suit the seller’s timeline, this will serve you well.
Be Open to Offering Extras
Have faith in your trusted advisor. Your real estate agent will guide you if there is anything extra that you can offer to sway it in your favor. Sometimes just a little can go a long way, like increasing your earnest money or even covering HOA fees. What you take off their plate will count in your favor.
Show Some Love
Selling a home can be an emotional experience. Many sellers want to know that the next family is going to love the home as much as they do. It never hurts to make it personal and write a letter to the owners, assuring them that you will take great care of it and that they would be leaving it in good hands. If a seller is choosing between a few offers, your personal touch could be the deciding factor.
Interested in learning more? Give us a call or shoot us an e-mail!