Before You Make An Offer Here Are 4 Tips For Success
Before You Make An Offer Here Are 4 Tips For Success
Before You Make an Offer, Here Are 4 Tips for Success!
So, you’ve been searching for that perfect house to call a ‘home,’ and you finally found it! The price is right, and in such a competitive market, you want to make sure that you make a good offer so that you can guarantee that your dream of making this house yours comes true!
Freddie Mac covered“4 Tips for Making an Offer”in their Executive Perspective.Here are the 4 tips they covered along with some additional information for your consideration:
1. Understand How Much You Can Afford
“While it’s not nearly as fun as house hunting, fully understanding your finances is critical in making an offer.”
This ‘tip’ or ‘step’ should really take place before you start your home search process.
Gettingpre-approvedis one of many steps that will show home sellers that you are serious about buying, and will allow you to make your offer with the confidence of knowing that you have already been approved for a mortgage for that amount. You will also need to know if you are prepared to make any repairs that may need to be made to the house (ex: new roof, new furnace).
2. Act Fast
“Even though there are fewer investors, the inventory of homes for sale is also low and competition for housing continues to heat up in many parts of the country.”
The inventory of homeslistedfor sale has remained well below the 6-month supply that is needed for a ‘normal’ market. Buyer demand has continued to outpace the supply of homes for sale, causing buyers tocompete with each otherfor their dream homes.
Make sure that as soon as you decide that you want to make an offer, you work with your agent to present it as soon as possible.
3. Make a Solid Offer
Freddie Mac offers this advice to help make your offer the strongest it can be:
“Your strongest offer will be comparable with other sales and listings in the neighborhood. A licensed real estate agent active in the neighborhoods you are considering will be instrumental in helping you put in a solid offer based on their experience and other key considerations such as recent sales of similar homes, the condition of the house and what you can afford.”
Talk with your agent to find out if there are any ways that you can make your offer stand out in this competitive market!
4. Be Prepared to Negotiate
“It’s likely that you’ll get at least one counteroffer from the sellers so be prepared. The two things most likely to be negotiated are the selling price and closing date. Given that, you’ll be glad you did your homework first to understand how much you can afford.
Your agent will also be key in the negotiation process, giving you guidance on the counteroffer and making sure that the agreed-to contract terms are met.”
If your offer is approved, Freddie Mac urges you to“always get an independent home inspection, so you know the true condition of the home.” If theinspectoruncovers undisclosed problems or issues, you can discuss any repairs that may need to be made with the seller, or cancel the contract.
Whether buying your first home or your fifth, having a local real estate professional who is an expert in their market on your side is your best bet to make sure the process goes smoothly. Let’s talk about how we can make your dreams of homeownership a reality!
Author:John Priestash Phone: 972-800-7369 Dated: December 13th 2017 Views: 323 About John: John was born and raised in Pennsylvania and has now lived in Texas for 14yrs. Upon graduating high ...
Sandy Setliff, a longtime resident of North Texas, specializes in residential real estate sales in Northern Collin County...but she has been known to stray to other parts of the DFW Metroplex for her clients! Her interest in Real Estate began with a move from Texas to California for job purposes in 2004. The move showcased the vast differences in home values and styles in geographic regions. This piqued her interest and prompted Sandy to begin studying and learning about the many facets of Real Estate.
A graduate of Texas Tech University, Sandy spent 18 years with Delta Air Lines; predominantly in Call Center Management in Dallas. When approached by the International Christian Disability Non-Profit Joni and Friends about leading the efforts to open a branch in Dallas, Sandy accepted the challenge. After leading the local chapter for a number of years she was offered a position in the organization's headquarters and relocated to Southern California where she served in Project Management and eventually became the Director of Human Resources.
Family health issues and being a member of the sandwich generation prompted a move back to Texas in 2009. Once settled back in her home state of Texas Sandy ventured full time into Real Estate but still finds the time to volunteer and support several non-profits including Powered to Move, Joni and Friends and the Melissa Community Outreach Center Food Pantry. She serves on the Anna Planning and Zoning Commission and is a member of the Anna Chamber of Commerce and Grace and Peace Presbyterian Church.
As a full time REALTOR with JP & Associates REALTORS, Sandy is dedicated to meeting her clients' needs and exceeding their expectations. Her designations include GRI (Graduate REALTOR Institute) and CNE (Certified Negotiation Expert). Sandy feels her strengths in Real Estate lie in supporting property owners to prepare and sell their homes for the best price in the most efficient timeframe. However, a number of the buyers she has served would argue that her strengths are in helping buyers find and purchase just the right home. Either way, Sandy enjoys assisting families and individuals with their Real Estate needs. "I like helping people. Real Estate is an excellent way to help people and gain some lifelong friends along the way!"
I read recently that the CEO of Zillow.com, Spencer Rascoff collected
"Having worked alongside Sandy Setliff for 13 years I personally witnessed her skill at managing multiple programs with well above average results. She has the perspective of a seasoned leader yet is quite able to execute with the detail of the best managers. If you want results that reflect profitability and people value, I highly recommend Sandy Setliff. "