5 Tips For Your Next Offer

Heed this advice before you submit your offer on a home to purchase

Being a buyer looking for a home in today’s market can be challenging with the current competitive landscape. However, being prepared as best as possible will give you a good fighting chance to be the winning offer on the home you wish to buy. Here are some helpful tips.

Rely on Your Real Estate Agent

Your local real estate such as myself can be a wealth of information from knowing the market to helping craft the most appropriate offer. The expertise is invaluable. Sometimes a little creativity can help with negotiations and the previous experience can be just what you need.

Act Quickly

The majority of homes for sale are selling in less than 1 month these days. With the steep competition you will need to be ready to view all homes that come on the market but also to be prepared to submit an offer quickly should it be the right fit.

Know Your Budget

Before you start seriously looking at real estate, you must get pre-qualified for a home loan by a mortgage professional. Only they can tell you what you will be qualified for in the way of a home loan. This will set the price point of what you can afford and start looking for. Also, while some homes go into competitive bidding wars, this will also help keep things in check for you as you know your price ceiling.

Start With a Strong Offer

According to a recent report from the National Association of Realtors, about 40% of today’s offers are written for more than the asking price. Knowing this information is always helpful but local trends combined with comps and your agent’s knowledge will help guide you best when writing your best offer.

Be Flexible

With the assistance of your agent you can decide on what makes most sense to budge on. It is not recommended that you give up too much like a home inspection contingency just to make your offer most attractive. There are other items like the amount of money down, closing dates and the like that may be just as important or helpful to the seller if you can accommodate.