Try to think of this from the seller's point of view. What would you want in a perspective buyer?
Competitive bid, not contigent on selling a home, flexible closing date, a pre-approval with the majority of the conditions satisfied (or even better a cash buyer or no mortgage contigency).
You don't want to get into a bidding war but you may have to come in over asking price if you really want a specific home. An experienced realtor can often sense the right number that will get you in the game but you need to show some restraint and not let your emotions get the best of you and grossly over pay for a home.
There should be a lot more inventory coming on line in the next several weeks. Be prepared to move.
You need an experienced realtor and a lender who understands your situation and is on YOUR team.
You are the Captain of Your TEAM and we need to work for you!
Stay Positive and Best of luck!
I would encourage you to try to go out and search during off market periods during the winter when their may not be as much traffic in the marketplace. I would also advise you to make low offers on a couple properties that are outside of your price limit right now. You may encounter an estate sale/out of state seller/ or someone that relocated that needs to sell quickly.
In some instances you may need to evaluate the offer price a little bit further and have a broker go through the local comps within the past 3 months to show all current market data! Don't settle for less.
Are you still searching or did you find your ideal home?
Principal Broker, Mayflower Realty Group
Direct Line: 978-604-2491
I am surprised to hear that you have been outbid 3 times. This would lead me to believe that it is the terms of your offer rather than the price that is the problem. I would keep after the single and only go to the condex if you can't find what you want. Best
Single family if you can afford it would be the best. If you buy a side by side see if you can find out about the neighbor how long they have lived there and if you have anything in common.
I have lived in the area for 25 years. Haverhill has lots to offer I am one big family. Fabulous downtown with lots of trendies restaurants.
Feel free to contact me if you need any assistance. Good Luck!!.
Purchasing a home can be quite the roller coaster! The key is not to get discouraged, but to get prepared. Have you gone through a pre-qualification and had a letter of pre-approval done by a mortgage broker? Many sellers find this very attractive as it shows the buyer's financing qualifications. If you e-mail me (firstname.lastname@example.org) the name of the condo I can check to see if it is FHA approved and we can move forward with a pre-approval.
Looking forward to helping you in this exciting time!
All condos(exes) have varying rules. If you are interested in that type of ownership it is important to identify the property then understand the governing rules. An attorney would be helpful at that stage.
Single family ownership tends more easily definable and less volatile as an investment, but condos(exes) can offer a great opportunity as well. Good luck
Good questions. 18 months ago, I had a client that looked at everything in North Andover that they could afford and lost out on 3-4 homes. Unfortunately, they were at the top of their range and couldn't go any higher and would ultimately lose out. Instead, I showed them a house in Bradford, for the same price they were hoping to spend and they loved it. It was updated, in the correct neighborhood and had the bells and whistles that they needed. They love their house and are satisfied with Bradford and the decision they made. I was good friends with them before and after they bought this home.
My point for you is this...if you want a single family in North Andover and are willing to look in Haverhill, why even look at condos at all? There is typically more risk (especially if there are no condo fees). Look for single family homes in Haverhill where you can get more for your money.
Feel free to call or email for any additional assistance. I live in North Andover and work out of Haverhill.
Here is the past discussion on this:
Buying a home here in North Andover should be easier than it actually is BUT don't let that get you down. It just means you clearly have good taste because others agree the homes you are picking are valuable.
The key point to remember is when a property is priced right it goes quickly as you have experienced.
The Haverhill market is a good alternative for many. I have worked on many condexs in town. Condex's have very different mortgage requirements than single family properties do so the first thing I would suggest is speak to your lender to find out how this impacts your loan costs.
The other thing to find out is if there are no condo fees who takes care of the land and what charges are in fact involved.
If you have specific questions feel free to email or call.
Best of luck!