The housing marketing is really starting to see an uptick in sales. It's making it a fun marketplace to be a buyer and a seller. However, if you're in the market to buy a home, here are a few things you should know.
When you find the perfect home, make an offer.
Don’t wait.
Right now, may homes are selling for their asking price (and in some cases) beyond. Home sellers need to evaluate several offers and if yours is one of many (your Castetter Group agent can tell you if other parties have indicated interest), it needs to stand out.
Here are four steps to writing the best offer for your home:
- If you need lending, get pre-approved and formalize it by including a letter from your lender as part of your offer.
- Make a clean offer with few contingencies. Typical home purchase contract contingencies include financing, inspections and the sale of another home. Put yourself ahead of the crowd by limiting as many conditions as possible before presenting your offer, however, do not forego important - and expensive - things that need to be fixed, e.g. a cracked foundation or leaking roof.
- Put as much of your down payment into your earnest money deposit as possible. It makes a very strong impression when you write the offer. The earnest money is part of your down payment which you simply put down a month earlier. This lets the seller know of your intentions because if the seller accepts your offer and you break the contract, you would lose your earnest money deposit.
- Trust your realtor. Your real estate agent has the ability and knowledge to influence and impact your decisions throughout the offer process and presenting the offer itself. Trust your realtor's advice and guidance. They are working for your benefit.
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