Buying a Home - Magazine - Page 21
3. 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 know what works. That expertise
can be used to give you a significant leg up on your
competition. A local real estate professional can
help you consider the right levers to pull that might
be enticing to a seller, like minimizing contract
contingencies (conditions you set that the seller
must meet for the purchase to be finalized).
It may seem simple, but catering to what a seller
may need can help your offer stand out. Just
remember, there are certain contingencies you
don’t want to give up, like the home inspection.
“Resist the temptation to
waive the inspection
contingency, especially in a hot
market or if the home is being sold
‘as-is’, which means the seller
won’t pay for repairs. Without an
inspection contingency, you could
be stuck with a contract on a house
you can’t afford to fix.”
- Freddie Mac
4. Make a Strong, but Fair Offer
Let’s face it – we all love a good deal. In the past, offering at or near the asking
price was enough to make your offer appealing to sellers. In today’s market, that’s often
not the case. According to the latest Realtors Confidence Index from NAR, 50% of
offers were above the list price in July.
In such a competitive market, emotions and prices can run high. Use an agent as your
trusted advisor to make a strong, but fair offer based on market value, recent sales,
and demand.
5. Be a Flexible Negotiator
If you followed tip #3, you drafted the offer with the seller’s needs in mind. That said,
the seller may still counter with their own changes. Your trusted real estate advisor can
help you understand the seller’s request and navigate the conversation, all the while
keeping your best interest at heart.
Bottom Line
Today’s competitive landscape makes it more important than ever to make a strong
offer on a home. Let’s connect to make sure you rise to the top along the way.
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