Four Things To Consider When Making Your Best Offer
Are you in the market to purchase a new home soon? While the market may have had a correction making it more balanced than in recent years, we are still in a seller’s market. Given the competitive landscape that still exists for some buyers, here are four helpful tips to think about when you submit your offer.
Consult Your Real Estate Agent
An experienced realtor like ourselves will have the knowledge and experience to best guide you through the offer process. Work on establishing your goals and allow your agent to help you get there. There can be some strategy to weave in when you want to have a successful offer.
Know Your Budget
Every buyer must be prequalified before starting the offer process. It is important to know your budget, be clear on what you can afford to spend and clear what a lender will give you in the way of a mortgage amount. You should also have a regard for other important expenses such as insurance and taxes so you know the amount that is comfortable for you to afford.
Consider Everything Before Submitting Offer
The market today is not quite as fast paced and red hot as it was in recent years. This means you may have a little more time to consider what is important for you to have when you are writing your offer. You might have more negotiating power these days than before so chances are you could ask for more of what you want rather than what you think the seller will take. Consult with your agent for the best strategy for the particular property given the local market conditions.
Negotiate Leveraging Agent’s Expertise
There are more things to negotiate than just the price of the home. It is less common for buyers to skip a home inspection and not ask for concessions from the seller nowadays where the landscape has changed, but you can still consider negotiating the deal in other ways. These include things like offering optimal closing dates for the seller for you to agree to. Consult your real estate agent for ideas on attractive ways that you can craft your particular offer with.
