As a buyer you want to be prepared before putting in your first or even multiple offers in today’s market. Make sure all of your ducks are in a row before starting the process. Here are some tips to help you do just that.
Keep in mind, if you need to sell your current home to afford a new one, consider putting it on the market before starting your search. You can often times negotiate a better deal on a purchase if your property is under contract or you have the cash in hand.
So let’s get started:
Talk to your mortgage professional about your financial situation and credit history to determine your loan options. It’s important to know how much house you can afford based on your down payment and income. A strong letter of pre-approval is requested by many listing agents before ever writing an offer.
Have a meeting with your real estate agent. (That’s me of course!) Discuss your needs and preferences and establish the best method to receive the listings and communicate about the properties you like. If you have questions about the local market, neighborhoods, things to do, I’m your woman. When it comes time to act, I will represent your interests in any and all negotiations and work to ensure a smooth transaction. None of this is done without your approval, of course.
Expect to pay more for a showplace; if you consider a fixer-upper, judge structural deficiencies more harshly than cosmetic flaws. It can be costly to replace major components or to change the layout, but redecorating with flooring, fixtures or paint is relatively easy and sometimes offers instant equity potential.
Location is KEY! Even if the the property seems to be perfect for you at the current time, think about whether it will appeal to a large pool of buyers if you should decide to sell in the future.
Go For It!
To write a winning offer without overpaying, look at the prices for comparable sales. Consider whether the property is in a high-demand area or if there is plenty of competition. We can even ask questions of the seller and see why the property is for sale and if the seller seems motivated. If you accommodate the seller’s preferred closing dates or other terms, he or she may also be more flexible with the price.
I can’t emphasize this next part enough!!!!
Do Your Due Diligence!!!!
After coming to terms and an offer is accepted we have a specified amount of time to schedule and have a home inspection done. May sellers expect to address issues related to safety or building codes, and additional repairs (or a credit) may be negotiated. Make sure all of your questions or concerns regarding the home’s condition are answered through this process!! It is recommended that you attend the end of the inspection so you can ask questions of the inspector as well.
Remember, no matter what, I am here for YOU!!! I want to make sure you find what you are looking for and are happy with your purchase. Your happiness means everything to me.
So, if you are ready or even if you have questions, please don’t hesitate to reach out.