Buying the Home Everyone Wants

Dated: February 16 2021

Views: 59

Buying the Home Everybody Wants

 

When you’re shopping for a home, you may become interested in a property for sale that someone else is also considering. In fact, there may be several other buyers entertaining the idea of making an offer.

 

In such a competitive situation, what should you do if you really love that home?

 

Obviously, you’ll need to move quickly and make some fast decisions.

 

Start by making certain the property fits within your price range. The last thing you want is to have an offer accepted and find out it is beyond your budget. That’s why it’s a good idea to arrange for financing before you go home shopping.

 

Next, you want to make an offer that is so enticing to the sellers that they’ll put your offer at the top of the pile, if not close to it. So, what makes an offer enticing?

 

Obviously, price is a big factor. You want to go in at a price that’s attractive to the sellers, without overpaying. Imagine finding out later that the nearest offer to yours was $15,000 less. Ouch!

 

Chances are your offer price will need to be at or slightly above asking. Find out what similar homes in the area recently sold for — what real estate agents call “comparables” — and use those as a guide.

 

It’s also important that your offer contains few, if any, issues that may be concerning to the sellers. The ideal offer will feature:

 

·       No conditions.

·       A closing date that’s convenient for the seller.

·       A deposit amount that shows you’re a serious buyer.

·       Acceptance of any of the buyer’s “exclusions”. (For example, they want to take the fridge and stove with them.)

·       Evidence you can get financing. (Many lenders offer a “Mortgage Pre-approval Certificate”.)

 

Although a “no conditions” offer is the most attractive, including a condition on passing a professional home inspection is usually not a problem, so long as the inspection is done quickly. Avoid adding other conditions, such as “subject to financing approval” or “subject to the sale of buyer’s existing property”.

 

If you want to increase the likelihood that you’ll find — and, more importantly, get — your next dream home, call today. 

Latest Blog Posts

Keeping Mice Out of Your Home

Keeping Mice Out of your Home There’s no doubt about it. Preventing mice from entering your home is much easier than evicting them once they’ve moved in. If you take just a few

Read More

How to Improve WIFI Speed in your Home

How to Improve WIFI Speed in your HomeThese days, just about everyone relies on the internet for work, school, entertainment, shopping, networking, you name it. So, speed and connectivity have

Read More

Making Your Main Floor Show Well

Making your Main Floor Show WellWhere do buyers form the most lasting impression of a home for sale that they visit? On the main floor!When buyers view a property, they often spend a lot of time on

Read More

Buying the Home Everyone Wants

Buying the Home Everybody Wants When you’re shopping for a home, you may become interested in a property for sale that someone else is also considering. In fact, there may be several

Read More