If you have been looking for a home in today's market, you know that it's somewhat difficult to find one and there isn't much out there to look at!
A well priced home will move very quickly right now and may have multiple offers. If you want to end up winning the home you love, you need to be strategic. Thinking you'll find the home of your dreams by just walking into a few open houses or just perusing some online listings is not realistic in this seller’s market. There's barely time to think about it!
It's all negotiable and a good realtor will find out the sellers motivations, which will help with the nogotiating.
A few of my recommendations to you are..
#1 Come to the market with a preapproval letter! There is absolutely no time to get an approval after you find a house you want.
#2 MOVE QUICK! Look at the new listings everyday! If you see one you like, look at it now. No time to waste. If you like it, write the offer now! They are going fast and are gone in hours.
#3 Be realistic about inspections and repairs! In this market, sellers don't have to fix everything. A new offer will be behind yours. You're not getting a brand new house, so don't expect one. An inspection is for looking for major defects that you can't see when just walking through a home.
#4 Start with your BEST OFFER! You may only get one chance to make an offer. If there are mulitple offers, the seller only has to choose one. Come in with your highest and best. This includes the earnest money, time periods and contingencies in the contract. Make sure you have a broker that knows how to maneuver around all those areas and make them better looking to the seller!
I have more, but I can't give all my techniques away!
Article by: Gena Martin Realtor
Gena writes about real estate markets and advice. Gena is an Entrepreneur, Owner | Managing Broker at GMR Realty. Real Estate Investor, marketing expert and syndicated columnists. Built six successful companies. Featured on TLC Network. Watch for her upcoming articles on market trends.