Do you intend to purchase a home in spring? It’s still a sellers’ market even though things are more even than they were during the pandemic’s peak. In order to make your best offer when you find the house you want to buy, keep in mind these four suggestions.
1. Lean on a Real Estate Professional
Rely on an agent who can support your goals. As Bankrate notes:
“. . . select the best real estate agent for your needs. They will be a critical part of your home buying process.”
Agents are professionals in the local market. They are aware of what has been successful for other buyers in your neighborhood and what sellers could be seeking in an offer. Even though it might seem straightforward, addressing the seller’s demands can make your offer stand out.
2. Know Your Budget
Understanding your budget is especially important right now. As Sandy Higgins, Senior Wealth Advisor at Capstone Financial Advisors, puts it:
“Understand your current budget … what are your expenses, how’s your spending, would you need to make changes?”
In order to get pre-approved for a loan, working with a lender is the best method to understand your figures. It makes you more financially secure and demonstrates to potential clients your seriousness. It can provide you an advantage over rivals.
3. Think Through Everything Before Making an Offer
Today’s market isn’t moving at the record pace it did during the pandemic. That means you may have a bit more time to think before you need to make an offer. According to Danielle Hale, Chief Economist at realtor.com:
“In general, you likely have more time to make an offer, although that’s certainly not a guarantee. If you’re on the fence about a home or its asking price doesn’t quite fit your budget, you might want to keep an eye on it, and if it doesn’t sell right away, you may have some room to negotiate with the seller.”
While keeping up with the market and being ready to act swiftly are still crucial, there is more room for flexibility now. As you investigate your market’s alternatives, rely on your agent’s recommendations.
4. Work with Your Advisor To Negotiate
In order to place the highest bid on a home during the pandemic, several buyers ignored home inspections or neglected to request seller concessions. Thankfully, the market has changed, and you might now have more negotiating power than in the past. Your trustworthy real estate expert will assist you in considering the appropriate levers to pull while putting together an offer.
Bottom Line
When you buy a home this spring, work with us, the MREG team to make your best offer.
