Although the booming “unicorn” years of the housing market have passed, the current real estate market remains competitive in numerous regions due to a limited supply of homes for sale. If you’re planning to purchase a home during this season, it’s essential to understand that you may still encounter some situations with multiple offers. Here are a few factors to keep in mind to improve your chances of presenting a strong offer on a property.
1. Rely on Real Estate Professionals
Depend on a real estate agent who can assist your objectives and provide insights into the current housing market. Agents possess expertise in both local and national trends, ensuring you are well-informed to proceed confidently. Additionally, they understand successful strategies employed by other buyers in your area and what sellers desire in an offer. Adapting to a seller’s needs can enhance the appeal of your offer.
2. Obtain Home Loan Pre- Approval
In today’s challenging affordability landscape, having a clear budget is crucial. Work with a lender to get pre-approved for a home loan, gaining financial confidence with a better understanding of your numbers. This also showcases your seriousness to sellers, providing a competitive edge in multiple-offer situations.
3. Submit an Equitable Offer
Wanting the best deal on a home is understandable, but offering too low can be risky. Your agent’s expertise will help you remain competitive and find a fair price for both you and the seller, avoiding offers that may be immediately dismissed.
4. Have Confidence in Your Agent’s Expertise During Negotiations
In the past, some buyers forgo home inspections and concessions to win bids. Thankfully, the current market offers more negotiating power. Your reliable real estate advisor will guide you on which levers to use and which ones are non-negotiable when crafting your offer.
Bottom Line
When you’re ready to purchase a home this summer, having an expert on your side can be immensely beneficial. Let’s team up to find your dream home and secure the best possible deal for you. Get in touch!
