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Preparing to Make a Winning Home Offer
When you finally find "the one," you just know it. People often make this statement about love, but it also applies to real estate. When you finally walk into the perfect home, something just feels right, whether it takes a week, a month, or several months of house-hunting. Of course, once you get that feeling, you have to take the next step: making an offer! How can you increase the chances of your offer being accepted? Our real estate agents have some tips to help you prepare ahead. This way, when you walk into that perfect home, you'll be ready to make a winning offer.
- Get Pre-Approved for a Mortgage
Before you get too far along in the house-hunting process, get pre-approved for a mortgage. When you seek pre-approval, the bank verifies your financial information and lets you know how much they're willing to lend. The bank will give you a letter that you can submit to the seller when you make an offer.
Sellers take offers much more seriously when they come with pre-approval letters. Having this letter reassures the seller that you will, indeed, be able to get financing to buy the home. If there are several offers for the same amount and only one comes with a pre-approval letter, the seller will almost always choose the offer with a pre-approval letter. - Make Sure Your Agent Knows Your Budget
The seller might approve your offer right off the bat, or they might make a counteroffer. In such cases, your real estate agent can negotiate on your behalf. Good real estate agents are skilled negotiators, and they can increase your chances of having your offer accepted.
It's easier for your agent to negotiate for you if they have a keen understanding of your budget and how high you are willing to go. So, as much as you are comfortable, be open with your agent about your finances when buying. - Submit Your Offer Early
The real estate market is competitive these days! A decade ago, you could find a house you love, sleep on it for a few nights, and then make an offer. Now, if you sleep on it, you might miss out. So, you want to be ready to make an offer the minute you find a house you love.
If you're hesitating and unsure of whether you should make an offer, you probably haven't found the right home. When you do find the right home, making an offer immediately will usually feel exciting, not intimidating. So, make sure you have a few clear hours in your schedule after you look at each home, just in case it's "the one." - Don't Skip the Home Inspection
Some people will skip a home inspection because they think it makes their offer more appealing. But this is not a good idea. Sellers usually expect an inspection to be part of the contract, so they won't be turned off when you request one. And if a seller turns down your offer because of the inspection clause, that's probably a red flag.
An inspection protects you and ensures you don't buy a home that requires more repairs than expected. Remember, it is only a winning offer if it results in a home that serves you well.
If you follow these tips, you should have no trouble preparing a winning offer. Don't hesitate to contact us if you're looking for Bergen County homes for sale or Rockland County homes for sale. We're happy to help!
Corporate Headquarters
7 E Central Ave, Unit 15, Pearl River, NY 10965Phone: 800-ASK-JOYCE (800-275-5692)
