3 Main Concerns of Buyers in Today’s Market
June 23, 2021
How quickly can I make an offer?
This depends on whether or not you have an active and updated preapproval letter. In order to submit an offer – which can be done ASAP, you must have an updated preapproval letter from your Lender/Mortgage Company. If you do not have this in hand, we must get you set up with a lender of your choosing to review finances and go over what you are looking at for price point, down payment, monthly payment, estimates of all and more. Offers can be submitted as soon as you are ready, personally and financially.
How do I make the best offer not knowing what the other offers are?
In a multiple offer situation, sellers cannot disclose terms of the other offers in hand. Writing an offer on a home in multiples is all about making your strongest offer to reflect the following:
* Best price to offer based on the current market in the area and to reflect your comfort level (you are the one paying for this property, your comfort level is IMPORTANT)
* Are you asking for an inspection? If so, is it contingent upon that or non-contingent?
* Consider closing costs (who is paying those, you or the seller?)
* Make sure to request a preferred closing date for the seller.
Do I have enough time to find a home?
YES! Make sure you have a discussion with us regarding your time frame a few months PRIOR to beginning your home search. The importance of timing is huge, especially if you are renting. I would suggest getting your toes in the water 5 months prior to your preferred move in date. This gives us the time to review/set up your home search, prepare homes for you to view and get that lending process locked down.
Don’t get discouraged if your first offer is not accepted on a home, the right home is out there and having these pertinent conversations is something we pride ourselves on as Realtors on the Better Living Group.
Got questions, call us! We would love to get a plan in place for you!
Lead Buyer Specialist & Listing Specialist
Better Living Group/Avenue Realty