[vc_row][vc_column][vc_column_text]When it comes to buying a house, you’re looking for the home you’ve always dreamed of. Unfortunately though, there just aren’t that many homes available to purchase in today’s market. Multi-offer scenarios are the new normal, so here are five things to keep in mind when you’re ready to make an offer.
Make a Strong, but Fair Offer
In the past, offering at or near the asking price was enough to make your offer attractive to sellers. For every listing right now there are 5.1 offers, and half of the homes are being sold above list price. Make sure to use an agent as your trusted advisor to make a strong, but fair offer based on market value, recent sales, and demand.
Know Your Numbers
Having a thorough understanding of your budget essential. That’s why you connecting with a lender to get pre-approved for a loan early in the homebuying process is so important. Taking this step shows sellers you’re a serious, qualified buyer gives you a competitive advantage over other sellers.
Be a Flexible Negotiator
Be prepared to include flexible move-in dates, a higher price, or minimal contingencies in your offer. Just remember, there are certain contingencies you don’t want to forego. For example, resist the temptation to waive the inspection. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.
Brace for a Fast Pace
We are in the midst of a fast-paced market. According to the Realtors Confidence Index from the National Association of Realtors, the average home is on the market for just 17 days. A skilled agent will do everything they can to help you stay on top of every possible opportunity.
Lean on a Real Estate Professional
An agents expertise can be used to give you a significant leg up on your competition. When it’s time to make an offer, it’s important to consider not just what you need, but what the seller may need too. Let’s work together to put your best offer on the table.
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