SGI Realty One Real Estate Blog

Hi Everyone-

As you probably already know, its a buyers market out there.  However, there are certain zip codes throughout the US that are still healthy and these homes often receive multiple offers.  So here are a few tips to show each seller that you're a  serious and competitive buyer.

First, you should be ready to buy.  By this, you should know your budget, have a clear idea of what you need and want and be ready to move forward if the deal is made.  Have a clear plan of action and make sure you're ready to own a home.  Hesitation can often ruin a deal so you need to be confident and serious when submitting offers and negotiating.

Secondly, be sure you're prequalified and preapproved for a loan BEFORE you start looking at your potentially new home.  With lending being as tight as it is, a deal can fall through very quickly if you cannot get financing.

Lastly, as a buyer seeking a home thought is sought after it is imperative you communicate with your realtor and bid competitively.  By this, it doesn't mean you're giving in to each and every seller's counter offer but be sure to consider if the home you're interested in may have multiple offers and the seller is going to go with the best one.  With this being said, you may want to think about offering an 'above asking price' offer to get the seller's attention.  At the same time, don't get caught up in a bidding war and know where your threshold is.

Til' next time,

Tim D. 

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