October 1st, 2021
In today’s sellers’ market, standing out as a buyer is critical. Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high buyer demand. If you’re buying this fall, you’ll want every advantage, especially when you’ve found the home of your dreams. Your Town & Country Realty Broker is here to help you strategize the best possible offer. Here are five things to keep in mind when it’s time to buy:
1. Know Your Budget. Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. Showing sellers you’re serious can give you a competitive edge. It enables you to act quickly when you’ve found your perfect home.
2. Be Prepared to Move Fast. Speed and the pace of sales are contributing factors to today’s competitive housing market. When homes are selling fast, staying on top of the market and moving quickly are key. After you’ve worked with your Town & Country Realty Broker to find the home that suits your needs, they’ll help you put together and submit your best offer as soon as possible.
3. A Real Estate Professional Can Lead You to Victory. No matter what the housing market looks like, rely on a trusted professional. Town & Country Realty brokers are experts in the local real estate market. They have insight into what’s worked for other buyers in our area and what sellers may be looking for in an offer. It may seem simple but catering to what a seller may need can help your offer stand out.
4. Craft a Strong, Fair Offer. In the past, offering at or near the asking price was enough to make your offer appealing to sellers. In today’s market, that’s often not the case. In such a competitive market, emotions and prices can run high. Having a broker to help craft a strong, fair offer is critical in these situations. Your Town & Country Realty broker can help you understand the market value of the home, recent sales trends in the area, and current buyer demand.
5. Understand the Seller’s Needs, but Resist Waiving Certain Contingencies. When crafting an offer, you’ll want to keep both your best interest and the interest of the seller in mind. Your trusted real estate advisor will help you consider which levers you could pull, including contract contingencies (conditions you set that the seller must meet for the purchase to be finalized). Of course, there are certain contingencies you don’t want to give up, like the home inspection. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.
Bottom Line: Today’s competitive housing market makes it more important than ever to have an experienced professional broker help you make a strong offer on a home.
At Town & Country Realty, we are committed to helping our buyers and sellers achieve success in real estate. Call us today at 541-757-1781 in Corvallis and at 541-924-5616 in Albany to have one of our professional brokers answer your real estate questions and help you reach your goals. You will be glad you did!