Hey BUYERS!!!! Trying to buy in a seller’s market can be frustrating if you and your agent are not prepared. As a team you need browse new homes coming on the market every day or you risk being in a multiple offer situation before you even see the property. Once you have walked through the property, you need to make a quick decision if you want to write an offer. You don't want to take a lot of time to think about writing an offer. Your offer could be 1 of 5 or more offers just within first few days of listing. Here are a few key way to separate yourself from the other buyers feeding for the same property.
1) Price - is number one factor. There's no time for lowball offers. This is a one time chance to get it right. In this market you need to offer on the top end to beat out competition. Sometimes, especially with foreclosures, this is a one time chance and there probably won't be another chance to counter.
2) Down Payment- Obviously if two buyers are offering the same on price but one is putting down more and his financing looks stronger, the seller will be more apt to go with that offer. It's not always a deal breaker but definitely something to think about.
4) Contingencies - Offering shorter time frames on your loan or inspection time will look stronger to a seller who doesn't want to go with a buyer who asks for extensive contingency time frames.
5) Closing time frame Is very important. Asking a seller to wait 60 days before closing could mean the they choose a lower priced offer but a quicker close time. If you can't arrange taking possession to suit the sellers, offering them a leaseback could help. 6) Choosing your realtor - I have to say THIS IS VERY IMPORTANT! DO NOT CHOOSE A REALTOR WHO IS GOING TO KICK BACK AND HAVE A MINI VACATION WHILE YOU ARE TRYING TO FIND A PROPERTY!!!! You need to choose a realtor who is fast, on top of things and motivated to help you find what you need quickly. In this market there is no time to kick back! If you need any help or have questions on buying or selling in this awesome DFW market, feel free to call or email me, I'm not going on vacation ANYTIME SOON :-)
Author:Felicia Johnson Phone: 214-282-7340 Dated: March 20th 2014 Views: 5,055 About Felicia: Felicia has been in the Real Estate profession for many years. She was born and raised in the DFW a...
JP And Associates REALTORS (JPAR) is one of the top 100 independently owned brokerages in the US. A full service real estate brokerage firm specializing in real estate sales and marketing services with multiple offices across the US and expanding quickly. JPAR is also one of Real Trends top 500 Brokerages in the US for volume and sales and in the top 1% in the US for sales.
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