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5 Things Homebuyers Need To Know When Making an Offer  When it comes to buying a house, you are looking for the perfect place to call home. The problem is, in todays market there just are not that many homes available to purchase. With inventory hovering near record lows and sky-high buyer demand, a multi-offer scenario is the new normal. Here are five things to keep in mind when you are ready to make an offer. 1. Know Your Numbers Having a complete understanding of your budget and how much house you can afford is essential. That is why you should connect with a lender to get pre-approved for a loan early in the homebuying process. Taking this step shows sellers you are a serious, qualified buyer and can give you a competitive edge in a bidding war. 2. Brace for a Fast Pace Todays market is dynamic and fast-paced. According to the Realtors Confidence Index from the National Association of Realtors (NAR), the average home is on the market for just 17 days. That means from start to finish, a house for sale in todays climate is active for roughly 2.5 weeks. A skilled agent will do everything they can to help you stay on top of every possible opportunity. And, as soon as you find the right home for your needs, that agent will help you draft and submit your best offer as quickly as possible. 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 we know what works. That expertise can be used to give you a significant leg up on your competition. An agent can help you consider what levers you can pull that might be enticing to a seller, like: Offering flexible rent-back options to give the seller more time to move out. Your ability to do a quick close or make an offer that is not contingent on the sale of your current home. It may seem simple, but catering to what a seller may need can help your offer stand out. 4. Make a Strong, but Fair Offer 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 todays market, that is often not the case. According to Lawrence Yun, Chief Economist at NAR: "For every listing there are 5.1 offers. Half of the homes are being sold above list price."" 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 sellers needs in mind. That said, the seller may still counter with their own changes. Be prepared to amend your offer to include flexible move in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized). Just remember, there are certain contingencies you do not want to forego. Freddie Mac explains: 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 will not pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you cannot afford to fix. Bottom Line When it is time to make an offer, it is important to consider not just what you need, but what the seller may need too. Let us connect so you have expert advice on this step in the homebuying process to put your best offer on the table. 
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It is a common misconception that a real estate agent primarily learns of someone looking to buy or sell a home when someone simply calls an agency looking for an agent to help them. Although this can happen, it is very rare. In fact, over 80% of the referrals I receive come from past clients and past coworkers just like you. The other 15-20% of referrals comes from our national network of relocation companies and other Coldwell Banker agencies across the country. The greatest compliment I can receive is when someone like you refers me to a friend, coworker or family member of theirs. If you, or someone you know, are looking to either buy or sell a home then I would certainly appreciate the opportunity to earn your business. Do you know of someone looking to buy or sell a home?  Click the vCard below to download my contact information to load on your phone and to share with anyone you know that would benefit from my help in buying or selling a home. 
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 12401 Old Meridian Street Carmel, In 46032 Email brad@btgough.com Mobile (317) 590-3571 Office (317) 844-1131 Website www.btgough.com |