Tips for Making Your Best Offer on a Home

Home Buying

Tips for Making Your Best Offer on a Home

Do you intend to purchase a home in the Spring? In many areas, it is still a sellers' market even though things are more level than they were during the pandemic's peak. It is essential to know there are certain things you can do when making an offer on a home that will make you stand out against the competition! In order to make your best offer when you find the house you want to buy, keep in mind these four suggestions.

 

  1. Rely on a real estate expert!

 

Agents are professionals in the local market. They are aware of what has been successful for other buyers in your neighborhood and what sellers could be seeking in an offer. Even though it might seem straightforward, addressing the seller's demands can make your offer stand out.

 

  1. Have a budget.

 

Working with a lender is the best method to understand where you are financially and helps you have a game plan for your purchase. It makes you more financially secure and shows how serious you are to sellers. Having a pre-approval also provides security to the sellers that you will be able to successfully purchase the home. In addition, you want to make sure your lender is able to pre-underwrite your file before even submitting an offer. This means they will submit all of your paperwork to the underwriter and get the green light that your file does not have any issues. This step typically happens after you get your offer accepted, but doing it before can provide you with an advantage over rivals and shows the seller you are well-qualified. So ask your agent to recommend a lender that can offer this service.

 

  1. Consider all options to make your offer stand out against the competition before submitting. 

 

While keeping up with the market and being ready to act swiftly are still crucial, there is more room for flexibility now. As you investigate your market's alternatives, rely on your agent's recommendations. This could mean offering a slightly higher dollar amount and then asking for a seller credit to buy down your rate or for home repairs.

 

  1. Strive to negotiate with your advisor.

 

In order to place the highest bid on a home during the pandemic, most buyers waived their contingencies to be competitive and were unable to request seller concessions if they wanted to have their offer accepted.. Thankfully, the market in a lot of areas have changed, and you might have more negotiating power than in the past. Your trustworthy real estate expert will assist you in considering the appropriate terms when putting together an offer.

 

Make your best offer this Spring when you purchase a home in collaboration with us!


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