Key Takeaways:
- Knowing your budget and how much money you can spend is crucial to buying a home.
- Real estate agents can be extremely helpful in giving advice and helping you through the process.
- Being quick to make an offer should be one of the buyer’s priorities, as it helps them to stand out from the crowd—Triangle buyers can also stand out by using Linda Craft & Team!
Here Are the Secrets to Making Offers
As a buyer entering a saturated market, standing out to sellers can seem daunting—but Linda Craft & Team can make it easier and less stressful. By providing expertise, advice, and detailed home-buying resources, we can make your experience enjoyable and exciting!
Budget for your purchase
Knowing how much money you have coming in and going out, and how much you want to spend on a new house, is a vital part of the buying process. While being aware of your financial situation seems obvious, it shows your seller that you are serious about the prospect of buying from them, and is a great way to stand out from other potential buyers.
Going to a lender and getting preapproved for a mortgage can help you work out what you’ll have to spend. This is also a step that allows you to act that much more quickly and decisively. Our team offers plenty of resources for learning more about preapproval and ways to estimate what your mortgage will be. You can also talk directly with our agents about any questions you may have.
Understand contract contingencies
Know what measures you want your home seller to meet before you buy! Remember, buying a home is a two-way process, and as the buyer, you have some power here.
Examples of these contingencies are home inspections, financing contingencies, and appraisals. Including these types of contingencies in the contract gives you advantages over the seller, but they could slow down the process—and the seller may be more willing to work with someone who doesn’t make as many requests. While it’s okay to include some contingencies, you want to appear flexible to sellers and make sure your offer is as strong as possible.
Agents: they can help!
If you need help deciding what your best bet is when dealing with contract contingencies, consider asking one of our real estate agents for help! Going to a real estate agent or advisor is a great idea if you feel confused or pressured during the home-buying process.
They can explain the basics, find you a home that you are confident about, and help you organize your budget so you have a better chance at getting your new house. Agents are able to advise you on local market trends, as well as the market value of the home you’re looking into buying.
Buyers should be prepared to make a speedy offer
The NAR states that most houses sell within an average of 17 days—not a whole lot of time to find a house, get your budget organized, make an offer, and get all of your other affairs in order. But being quick at making an offer—and a strong one—is one of the best ways to stand out as a buyer. Home-buying is full of risks, and being willing to take them is important.
Even so, this doesn’t mean a buyer should compromise quality and thoroughness for speed. Be quick and decisive in what you do, but do your research and get expert advice in order to be as prepared as possible when dealing with the seller.
Contact Us For More Advice!
Get in contact with the real estate agents at Linda Craft & Team for more information about buying your first home, and visit our blog’s many resources to learn more! Whether you want to learn about contracts, seasonal advice, or marketing trends specific to the Triangle, you can find it on our site or contact us at 919-235-0007.