Thinking of Making an Offer on Your Dream Home?
June 25, 2021
Buying a home is such a big decision and can be so exciting yet also scary at the same time. It is a major purchase but is and can be so rewarding! In today’s market there are not a ton of houses on the market. So when you find the home you love, it will move fast, but I have a few tips that will help the offer process go smoother.
This market is at a record low on home inventory but a major high on buyer demand. The combination of these two things makes the home buying process almost like a battle. It moves so fast and often more than one person or family is interested in a home so let me help make this process a little easier. Here are five things that you need to know before you make an offer.
1) Know what your numbers are.
The best thing you can do when going to put in an offer on a home is to know exactly what your budget is and how much you can truly afford. I highly recommend getting connected with a lender, and if you don’t know any I can refer one or two to you. Once you get with a lender they can get all of your information and give you a pre-approval letter. This is highly recommended in this market because it gives you a little advantage when going into the offer process. It shows you are serious and you have done your prep work. If you were to have to get into a bidding war this will really give you some advantage.
Hold on tight because it’s gonna move FAST!
I know that when things start moving fast it can be a little overwhelming. But I have some good news for you, I do this every day. Most real estate professionals will tell you that this is just another day for us. It does not overwhelm or worry us. I personally recommend you always having a real estate professional to help you when purchasing but most definitely in this market. Because of the market most houses are not even on the market for more than 30 days. As soon as you find the one you love, let me put in the paperwork and start the offer process.
3) Your real estate professional will be your best friend during this process.
We know this market and the process because we do this every day. So when I say let me or us help guide you through this I’m genuinely trying to help take the stress out of it for you. This should be a happy, memorable experience not a stressful one. One thing we can also help you do is to give you advice on what things to offer or change in your offer so that it is more appealing to the sellers.
4) Make your offer a fair offer but a strong one!
As much as everyone likes to get a good deal, in this market you have to come to the table ready to put up a strong offer. Most homes right now are being sold above the list price, so don’t feel like they are just toying with you when they say they have other offers for higher than the list price and that you need to bring your highest and best offer. That is just the market we are in right now due to the supply and demand.
5) Be flexible and let your agent help you negotiate.
So, negotiations are a major thing in real estate. This is one of my favorite parts of my job. Trust in your agent, hopefully that's me, to guide you through the negotiations. I will not steer you wrong. When you submit your offer they may come back with some things they want changed and that’s okay. Keep an open mind and let me help you think out everything before you make a counter offer.
I will not let you skip any of the things that might leave you in a lurch later down the road, like for example an inspection contingency. I don’t want you to get into a home that needs a bunch of repairs that you then couldn’t afford to fix.
With all of this said, the one most important thing to remember is that buying your next home or your dream home should be absolutely thrilling and exciting. Don’t let the process and today’s market scare you off. Instead just let me help you! I want to be your realtor.