Are you in the market to buy a new home soon? While the market may have had a correction making it more balanced than before, we are still in a seller’s market. Given the competitive landscape that still persists for some buyers, here are some helpful tips to think about when you make a move on submitting your offer.
Consult Your Real Estate Agent
An experienced real estate agent like myself will have the knowledge and experience to best guide you through the offer process. Work on establishing your goals and allow your agent to best help you get there. There can be some strategies to implement when you want to have a successful offer.
Know Your Budget
Every buyer must be prequalified before beginning the offer process. It is important to know your budget what you can afford to spend and what a lender will give you in the way of a mortgage amount. You should also factor in other important expenses such as insurance and taxes so you know the amount that is comfortable for you to afford.
Consider Everything Before Submitting Offer
The market today is not as fast-paced and red-hot as it was in recent years. This means you may have a little more time to consider what is important for you to have when you are crafting your offer. You may have more negotiating power these days than before so chances are you could ask for more of what you want rather than what you think the seller will take. Consult with your agent for the best strategy for the particular property and local market conditions.
Negotiate Leveraging Agent’s Expertise
There are more things to negotiate than just the purchase price of the home. It is less common for buyers to skip a home inspection or not ask for concessions from the seller these days when the landscape has changed, but you can still consider negotiating the deal in other ways such as offering optimal closing dates for the seller for you to agree to. Consult your real estate agent for ideas on attractive details you can line your offer with.
