You found that perfect home! You can’t wait to make it your own – but first, you need to get your offer accepted!! With today’s competitive market, many buyers are making several offers before getting one accepted. And of course, they are getting frustrated with the process. Here are a few tips to make the process easier!
First of all, figure out the price. Talk to your realtor about a good price on the home. Make sure you look at other homes in the area and what they are selling for. It doesn’t do any good to go way over the list price and then not have the home appraise. Make sure you are comfortable with the payment.
Next submit your offer. Your realtor will write up the purchase agreement and then send it to the sellers. You will want to make sure you have your mortgage approval letter with the offer. With the current market, you need a good approval letter to help show the sellers that you are ready to go – the last thing a seller wants is a deal that falls through due to financing.
Be prepared for negotiations. It’s not uncommon for the seller to try and negotiate with you. Remember that as you are negotiating, the home is still available for the seller to get more offers. If they get another offer, they make take that if you don’t agree to their requests. However – you still want to make sure you are comfortable with the home and the price you are willing to pay for it!
The current housing market has remained under a six month supply for quite a while – meaning that there isn’t a huge inventory to look at. That also means that when a home comes on the market, you need to look at it quickly and if you decide you want to write an offer, you may need to do it quickly! Many homes are coming on the market and selling within days – 1-3 days! Some don’t even hit the market, they get sold before they are listed. It makes it more difficult for buyers, but if you are prepared, it helps. Make sure you have a mortgage approval, make sure you are ready to write an earnest money check.
We can help with a closing guarantee to make your offer a little stronger. I have also called several listing agents to talk to them about the buyers – any little thing to help you get your offer accepted!! Sometimes it takes awhile, but you will find a home!! It just requires a little patience! Have fun shopping!
Leslie Vanderwerf, NMLS ID#335509, American Mortgage & Equity Consultants, Inc., An Equal Housing Lender, NMLS#150953 – Email – Website
