Buying a Home? Make Your Best Offer!
Today. It’s definitely a seller’s market! If you’re buying a home in this climate, standing out is important. Multi-offers, often over list price are being made. People are outbidding one another to get the home they desire. There is a definite shortage of homes for sale. If you’ve found your dream home there are a few things you can do to give yourself every advantage.
What’s Your Budget
Know your budget. What you can afford is going to be crucial as a homebuyer. You should work with your lender to determine what you can comfortably afford. They will help you understand the numbers so you can get pre-approved for your loan, which will give you confidence as you search. It will also demonstrate to the seller that you are a “serious buyer” and can act quickly.
Be Ready to Move
Recently, the average home is selling in just 17 days to less than 1 month. (NAR). If you are actively looking to buy, stay on top of the market. When you find the home you want, move quickly to submit your offer as soon as possible, and make it a good one!
Trust a Professional
No matter what the housing market looks like, rely on a trusted real estate agent that knows the area. Choose experienced, trusted professionals who can help you through the entire homebuying process. Your agents should be an expert in the local real estate market. They will have insight into what’s worked for other buyers and what sellers may be looking for in an offer.
Submit a Strong and Fair Offer
In the past, offering the asking price, or near the asking price was enough to get you the home that you want. Today, however, that is not often the case. Lately, 50 percent of homes for sale are selling for above the listing price (NAR). Your real estate agent can help you formulate your offer to make sure it’s strong and fair, and submitted quickly on your behalf.
Keep Both Your Interest and the Seller’s Interests in Mind
When preparing your offer, remember to keep both your best interest and the interest of the seller in mind. Your real estate agent can help you consider which contract contingencies should be included (conditions set that the seller must meet for the purchase to happen). There will be contingencies you won’t want to give up, like a home inspection. In a hot market, many homes are being sold “as-is”, which means the seller is not willing to fix any repairs that are needed. You can see why a home inspection should be a contingency that you should not do without. You don’t want to be caught with a repair that you can’t afford to fix.
Are You Looking for a Home in Southwest Florida?
Logical Choice Realty Group can help you get you the home you want in the area you desire. We will be with you from the beginning of the search to well beyond the closing. We know the local market, and work with many buyers, sellers and investors every day. If you’re looking for a trusted Realtor, call us today.
