Dani Dimitri…, Home Buyer in Cutler Bay, FL

Had two failed contracts and loosing hope in the market there.Not a cash buyer, preapproved for conventional, any suggestions??

Asked by Dani Dimitrijevic, Cutler Bay, FL Tue Apr 23, 2013

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This question was asked from this property: http://www.trulia.com/property/3105253400-5401-Arthur-St-Hol…

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12
Dear Dani,

Why did your contracts fail?
0 votes Thank Flag Link Tue Dec 31, 2013
My wife owns a house in that area. Please call me at 786 277 3475
0 votes Thank Flag Link Mon Oct 21, 2013
Reach out to Carrington Real Estate in Aventura, FL. They have thousands of REO properties. Expand your search area. If you need help call me 239-471-9829
0 votes Thank Flag Link Mon Jul 15, 2013
I recommend you do not hesitate to see the home of interest and if you like it, submit the offer right away. Cash is always king however, terms are important as well. A strong pre-approval, substantial down payment, shorter inspection period (7 days). Most homes are selling at or above list price due to low inventory. If you think the home will not appraise (common in today's market), be willing to pay out of pocket what you can, if you can. It's also up to your agent to quickly communicate, establish a good relationship with the listing agent and ask the right questions.
0 votes Thank Flag Link Thu Jul 11, 2013
The Seller maybe compassionate enough to learn more about your buyers reason to purchase the home.

I had a buyer who had lost out on 4 homes, either cash buyers or being out bidded, then I mentioned to the seller that my client loves the home and it will meet their needs. They have a 4 year old son that has to go to a childrens school for the blind, where the bus would be able to pick him up and drop him off at this home location. The seller did have a cash offer which was thousands over my client's
offer and the seller was thoughtful enough to close with my buyers.
0 votes Thank Flag Link Fri Jul 5, 2013
I have had this happen to a few of my borrowers as well. Its a sellers market so my suggestion is to at a minimum offer the listing price or even more. It hard to compete with cash buyers but if you have your ducks in a row your chances of success are much better.
0 votes Thank Flag Link Fri Jul 5, 2013
Hello Dani, that has been going on for some time now, you're not the only frustrated buyer out there, there are a lot of people like your self that have been trying to buy a home and keep getting out-bid by other buyers. I have had listings with offers coming in $20k over the asking price, this is due to the fact that the market is moving slightly upward and a lot buyers are getting off the fence and making offers, which is what you have to do.

If your agent is not showing you houses constantly and making offers on those you like, you may want to find a more aggressive agent. Your offers have to be strong and attractive to the sellers. Don't waste money on inspections or appraisals before you have an executed contract, that's just nonsense. If you're financing, your agent should have a general idea of what to look for that may prevent a property from being eligible for financing, like code violations and illegal enclosures or additions, that can save you time and money in the long run.

Arm your self with patience and knowledge so you also know what to look for in a home, as this is going to be a major investment in your life and you'll most likely live there for at least 5 years or more, so it should definitely not be an impulse buy. If you need an experienced and aggressive agent on your side, please contact me and I'll be more than glad to help you though your journey.

Sincerely,
Hermann Wiehls
Realtor Associate
Atlantic & Pacific Real Estate US LLC
Ph: 954-300-2BUY
3002buy@gmail.com
http://www.southfloridarealestateadvisor.com
0 votes Thank Flag Link Tue Apr 23, 2013
Hello, All I can said is hang in there.. We have limited inventory but properties will start coming out. Don't give up! Now is the time to buy. Maybe those homes were not for you the right home will come out. Have you consider buying a new construction home?


Best Of Luck!!!

Migdalia Mendoza "Mickey"
Worldwide Select Group Inc
12595 SW 137 Ave #110
MIami, FL 33186
Office 305-378-9900
Cell 305-308-6998
0 votes Thank Flag Link Tue Apr 23, 2013
the problem is that i am on a time limit and can not wait for more than 60 days...
Flag Tue Apr 23, 2013
Good morning,

Unfortunately, the market is not going to get any easier any time soon. Patience and knowing when to act when the opportunity presents itself will pay off eventually. Nothing worth attaining is easy to accomplish, so try to remind yourself of that the next time your are thinking about taking a break. My suggestion is that you find yourself a good Realtor that can help you accomplish your goal. A good buyer's agent can make all the difference. Good luck in your search!

Sincerely,

Giuseppe Hernandez, P.A.
0 votes Thank Flag Link Tue Apr 23, 2013
This appears to be a flip, since it was sold in 2012. Which means it almost certainly won't appraise. A better strategy might be to lowball properties which have been on the market for a while, and offer to provide additional cash at closing if the property doesn't appraise.
0 votes Thank Flag Link Tue Apr 23, 2013
I'm guessing that you're loosing the deal when the appraisal comes in. My suggestion would be then to get an appraisal done on the house before actually making an offer. What's going on right now it's that with a rising market the appraisals will come in low because it's based on history and not on current market pricing.
0 votes Thank Flag Link Tue Apr 23, 2013
Good Morning Danni

I feel your pain, but this is the situation with today's market when you have lots of buyers compete for the same property. Just keep on trying and also your agent has to write a strong contract and offer to stand out above all others. Good luck and you can call me if you have any questions.
0 votes Thank Flag Link Tue Apr 23, 2013
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