When it comes down to buying a home, you look for the perfect place to call home that fits your lifestyle. The problem is, in today’s market there are just not enough homes available to purchase. With inventory remaining low while the buyer demand continues to stay strong, a multi-offer scenario is the new normal. Here are five things you should keep in mind when you’re ready to make an offer on a new place.
Know Your Numbers
Having a complete understanding of your budget and how much house you can actually afford. That’s why you should connect with a lender to get a pre-approval for a loan early in the home buying process. This also shows sellers you’re a serious, qualified buyer.
Brace for a Fast Pace
Today’s housing market is fast-paced. According to the Realtors Confidence Index from the National Association of Realtors (NAR), the average home is on the market for just 17 days- that means from start to finish, a house for sale in today’s climate is active for about 2.5 weeks. A skilled professional will do everything they can to help you stay on top of every possible opportunity.
Lean on a Real Estate Professional
While homebuying may seem like a whirlwind process to you, local real estate agents do this every day, and we know what works. Their expertise will give you a significant leg up on your competition.
Make a Strong, But Fair Offer
In such a competitive market, you have to be prepared for anything. Using an agent as your trusted advisor will help you make a strong, but fair offer based on market value, recent sales, and demand.
Be a Flexible Negotiator
There is a chance that the seller may still counter your offer with their own changes. Be prepared to amend your offer to include flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized).
Bottom line, when it’s time for you to make an offer on a home, it is important to consider not just what you need, but what the seller needs too. Contact our team of Real Estate Professionals for expert advice on this step in the homebuying process. Relying on an agent's knowledge and expertise can help put your best offer on the table!
Florida Lifestyle Realty