Be Ready to Present a Strong Offer

Buyers Must Present a Strong Offer in This Seller’s Market!

As many of you already know from first hand experience, the local real estate market is starting to gear up for the summer selling season. 

A Lot of Buyers and Limited Inventory.  While we still have a couple of months to go before the height of the season, those who are in the market now are starting to notice an increase in real estate sales activity.  If you watching the real estate market on a regular basis, you are no doubt noticing that the property you saw yesterday as “Active” is in escrow today.  The local real estate market IS heating up.  Serious buyers need to present a strong offer to be competitive!

Get the House You Want!  So that you are ready to present a strong offer on your dream house, and edge out any potential competition from other buyers, take a look at the article below and learn what you will need to present your best possible offer!

I Can Help!  If a seller receives multiple offers, the seller’s agent will review the merits of each offer and select the one that looks like it has the greatest likelihood of being able to close escrow.  There are several ways that an experienced real estate agent can structure and present your offer to make your offer stand out! 

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8 Tips to Guide Your Home Search:

1. Research before you look.  Decide what features you most want to have in a home, what neighborhoods you prefer, and how much you’d be willing to spend each month for housing.  (But also realize that unless you are building a custom “Dream House” you will need to make some compromises. – TB)

2. Be realistic.  It’s OK to be picky, but don’t be unrealistic with your expectations.  There’s no such thing as a perfect home.  (Unless you build a custom house. – TB) Use your list of priorities as a guide to evaluate each property.

3. Get your finances in order.  Review your credit report and be sure you have enough money to cover your down payment and closing costs. Then, talk to a lender and get prequalified for a mortgage.  This will save you the heartache later of falling in love with a house you can’t afford.  (I can not stress the importance of this point enough. Click Here to get your free annual credit report.  – TB)

4. Don’t ask too many people for opinions.  It will drive you crazy.  Select one or two people to turn to if you feel you need a second opinion, but be ready to make the final decision on your own.

5. Decide your moving timeline.  When is your lease up?  Are you allowed to sublet?  How tight is the rental market in your area?  All of these factors will help you determine when you should move.  (By the same token, you should NEVER rush a real estate purchase.  It is better to extend a lease, or go month-to-month, than it is to rush and buy the wrong house! – TB)

6. Think long term.  Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in this home for a longer period?  This decision may dictate what type of home you’ll buy as well as the type of mortgage terms that will best suit you.

7. Insist on a home inspection.  If possible, get a warranty from the seller to cover defects for one year.  (I strongly recommend that you spend the $350 to $500 dollars and hire a professional home inspector before you close escrow.  Also, I will always make sure that my buyer clients have a one year home warranty for their new house. – TB)

8. Get help from a REALTOR®.  Hire a real estate professional who specializes in buyer representation.  Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you the buyer.  Buyer’s reps are usually paid out of the seller’s commission payment.  (Remember, a Buyer’s agent represents the buyers best interest.  A buyer’s agent may also list houses for sale but does not represent both the buyer and the seller on the same transaction.  Click here to find a qualified real estate agent who will aggressively represent YOUR interests. – TB)

Find Your New House!  Are you inspired and ready to start YOUR search for a new house?  Click here to tell me what you are looking for and LETS GO SHOPPING!!!