im going to be ready financially to purchase a home in about 5 months, but i fell in love with a home on the market now,

Asked by Loulou, 11953 Mon Oct 25, 2010

is there any way of showing the seller im serious or to hold it until march?

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9
Jerry Cibuls…, Agent, Southold, NY
Wed Oct 27, 2010
The best approach is to learn the market and watch the current homes that are available for sale. Keep track of the homes that interest you and see how long they are available for sale. The selling prices will indicate the current market value and that will be very helpful knowledge when you are ready to negotiate on a home. Trying to reserve a home this far in advance is going to be very difficult. The seller is going to look for earnest money on a contract and if you are not prepared financially for a few more months this is going to be a conflict. Don't rush the process. Take this time to do your legwork and learn the market. You will be prepared when the time to purchase arrives.
1 vote
Kevin Olson,…, Agent, Colorado Springs, CO
Mon Oct 25, 2010
The seller would be taking a larger than normal risk holding onto a property for that long, and much will depend on their situation. There is certainly nothing wrong with approaching a seller with this idea, so I would go forth to see what it would take to make it happen. I would also recommend having a Realtor in your corner to represent you and your best interests.

Best Wishes,
Kevin
1 vote
Thomas McGiv…, Agent, Farmingville, NY
Thu Oct 28, 2010
why must you wait another 5 months? are you going to save that much money? are you clearing up credit issues?

and how much money do you really need to save, if that's the case. or are you in a lease - if so, break it.

in this market, with rates so low - economically speaking, you have to see the WHOLE picture.

i can't believe out of all the people who commented on this post, that no one asked WHY you feel you need to wait another 5 months.

Lou - call me 631-831-9048. No pressure. I don't care if I show you the house or not. clearly, you need to explain this a little more and THINK IT THROUGH. Maybe you don't need to wait.
Web Reference:  http://www.homevaluesny.com
0 votes
Fajardo Dela…, Agent, Flushing, NY
Mon Oct 25, 2010
Loulou
This is common now a days with so many homes on the market,try and take to a local agent and a loan officer. I wish you luck.If you need help or advice call me.
0 votes
Helena Genti…, Agent, Plainview, NY
Mon Oct 25, 2010
Loulou,

One option may be a loan that i know is available. The interest rate on this loan is 2.625%. This could possibly change the entire picture for you since it may qualify you right now!! If you are serious and interested in the details please contact me on my cell phone number 347-806-2225

Helena Gentile
Century 21 AA Realty
0 votes
Irene Renna, Agent, Hauppauge, NY
Mon Oct 25, 2010
Hello LouLou

If you have a true interest in the property in Middle Island, Please call me. I will contact the homeowner on your behalf and get you in contact with the people who will do all they can to help you achieve your goal. It can take 3 months to close on a property, so you may not be too far off of making an offer to purchase.


Irene M. Renna
Century 21 Princeton Properties
(631) 467-0009 office
(631) 291-2180 cell
Irene.Renna@Century21.com
0 votes
Anna M Brocco, Agent, Williston Park, NY
Mon Oct 25, 2010
Much will depend on the seller--however, most do want to sell and get and would rather not wait until the buyer(s) are ready--if you haven't visited with any qualified loan officer(s) yet, do so, maybe you can qualify for a mortgage now. If you can't purchase at this time, postpone your search--not fair to you if you can't buy, why fall in love with a property you can't yet have, and not fair to the sellers who are expecting a ready, willing and able purchaser for showings.
0 votes
Gail Gladsto…, Agent, 11743, NY
Mon Oct 25, 2010
This is the exact reason that I recommend that buyers do NOT look at anything until they are ready to purchase.

If I am a homeowner and looking to sell, I am not going to wait for anybody...I'm going to sell when I can.

Stop thinking about it and perhaps it will still be available when you are ready....
Web Reference:  http://GailGladstone.com
0 votes
Donna Lomenzo, Agent, Wading River, NY
Mon Oct 25, 2010
Hello,

The only way to know for sure is to present your offer to the seller. But I must say more than likely a seller will not agree to hold the home for you. Speak to your lending institution and see if they can offer you a different approach to be ready now. I wish you the best of luck...and once again you won't know until you ask. If you are working with a buyers agent ask them to present your package.

Thanks
Donna
0 votes
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