1. If you don’t ask questions of your lender upfront you may miss out on a great deal
. Often times when a buyer finds a property that they are interested in purchasing they have not done their due diligence with their lender. Because of this, they find themselves trying to untangle all the questions that are floating around in their head making them nervous about making an offer in a timely matter. In today’s market where there are so many great properties on the market, a buyer must be ready to act quickly. Having as many of their finance related questions answered ahead of time allows them to make an offer with ease.
2. Think long and you think wrong. In addition to not having had their financing questions handled in a timely manner, some buyer’s also get what I call “Buyer’s Hesitation.” This happens when the buyer finds a property that they are interested in, but goes back and forth with themselves trying to figure out if this is really the right property for them. This too can cause a buyer to miss out on a great property.
3. Put your all star team in place up-front. I always tell buyers that I work with to make sure you have your team in place. Your team acts as your trusted advisory board. They are there to steer you along the way inside of the journey to homeownership. One of the most important people on your team is your Real Estate Agent. Your Real Estate Agent is there to ensure that you find a property that meets your overall goals. Be sure that you are comfortable with your team of professionals; it makes the road to homeownership a lot easier.
4. Make your offer appealing to seller. While it is a buyer’s market, understand that seller’s have a goal in mind as well. They are looking to get the best offer on the property that they possibly can. If you are not offering full price, be sure that you have a reason for not presenting a full price offer. This should be explained in the cover letter of your offer. If a seller thinks you are low balling them, they are more likely to pass up on your offer. If you can justifiably explain why you believe you are offering them a valid price, they will typically at least take this under consideration.
5. Consider the length of time you think you will stay in the home. The average first-time buyer only stays in a home for four years. I’ve often heard the real estate pro’s say buy right and you can’t sell wrong. Since most buyers only stay in a home for four year, make sure you are accurately assessing your offer, in regards to when you think you may want to re-sell the property.
It’s a great time to buy real estate! Prices are favorable, interest rates are favorable and the real estate market in general is on clearance. Don’t miss this great opportunity..
Call Today: Cecelia Marlow 312-738-6294