With the lack of AFFORDABLE inventory and the high volume of qualified buyers, it is so important to be fully prepared when starting your home search. Below are tips to help keep you on top of every opportunity that presents itself and how to handle a multiple offer situation (which is unavoidable in our current market).
1. Assemble a strong financial package. Get a solid pre-approval letter from preferably a local lender. If possible, opt for a conventional loan.
2. Present an irresistible offer. This does not mean you need to offer more than you feel comfortable with. I actually believe you need to come up with a number(purchase price) in your head, and not go over it. This will prevent buyer remorse and feeling you overpaid for a property because you were in a competition. This simply means to keep your offer as "clean" as possible. Go for a realistic, but timely close date, and don't ask the seller for everything under the sun.
3. Have your agent educate you on the housing market in that particular part of town, and give you the history on that particular home. The more knowledge you have on the home, the better prepared you can be for offer time.
Always remember that your Realtor is there to help guide you through the process, making suggestions along the way. We are experienced in these areas and can give your offer the competitive edge it will need through this buying season!
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