4 Tips For Making A Successful Home Offer
You have searched high and low for a new place to call home, and you finally found one! The price is right, and in this highly competitive market you want to make sure you make a good offer so that you can make your dream of owning this house yours comes true! Here are the 4 Tips for submitting a successful home offer for your consideration:
- Know Your Buying Power: This is tip, is also a very vital step towards owning a home. Speaking to a lender, and getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and will allow you to make your offer with the confidence of knowing that you have already been approved for a mortgage for that amount. Getting pre-approved also allows you to search for homes in your price range, rather than wasting time on a home that you is out of your price range.
- Act Quickly: The current inventory of available homes for purchase is below the 6 month inventory required for a “normal” market. This means their are more buyers, than there are homes available, causing buyers to compete for the few homes that are available. Make sure that as soon as you decide that you want to make an offer, you work with your agent to submit it as soon as possible.
- Stand Out: With many buyers competing for the same homes, consider ways to make your offer stand out above the rest. Many home buyers write a personal letter expressing their interest in the home, and how much they would love to be the next owner. A good agent, can also guide you in other ways to make your offer stand out as well.
- Be Open To Negotiations: Many home buyers, especially first time home buyers are very nervous about purchasing a home. It is one of the largest purchases you will make in your life, so when a home inspection comes back with suggestions for repairs, buyers tend to get start focusing on dollar signs rather than the big picture. Most homes will need repairs in some shape or form, unless you are purchasing new construction. Weather it be minor cosmetic fixes, or major repairs such as a new roof. Work with your agent to know how long your inspection contingency is in place, and thoroughly investigate anything you deem necessary. Sellers are just as eager to close escrow and move as you are, so being open to negotiations can make this part of the process easier.
Whether buying your first home or your fifth, having the Mickalson Group on your side is your best bet to make sure the process goes smoothly. Happy House Hunting! Be sure to contact us here, or at 661-505-1051 for all your real estate needs!