Mistakes Buyers Make in a Seller’s Market
April 20, 2017 Comments Buyers, Home, Home Buyers, House, Lansdale, Mistakes, Mortgage, Property Market, Real Estate, Sellers Tags: Coldwell Banker, Houses, Lansdale, Montgomery County, Pennsylvania, Property, Real Estate, Realtor
You know the feeling all too well. You have spent nights and weekends seeing every home in your price range and BAM! You find THE ONE. You rush to your agent and write up what you deem a reasonable offer and you’re met with heartbreak. The seller accepted a better offer.
Unfortunately this occurrence is all too common in a seller’s market. But armed with a few tips, you can avoid this heartache in the future.
Always Present Your Best Offer First
In a seller’s market, there is no place for lowball offers. In all likelihood, the seller is being presented with multiple offers, so show your hand. Present your best possible offer because in all likelihood, you won’t have a chance to counter.
Working with an Inexperienced Agent
Your agent has to be ready to jump as soon as you find a home you fall in love with. That means he or she should come armed with the seller’s disclosure and even an agreement of sale you can sign on the fly so your offer can be presented as quickly as possible. At Coldwell Banker Realty Corp, we understand the importance of timeliness in all transactions, especially in a cutthroat market like we’re currently in!
Not Being Preapproved
This is VITAL in any market, but especially today! There’s no time to waiting around for your mortgage broker. If you haven’t been preapproved for your loan yet, give me a call and I will get you in touch with one of our affiliated mortgage brokers who will find the loan that works for you – and fast!
Not Being Ready for a Bidding War
Remember, you could end up paying ABOVE asking price! Sounds crazy, right? But when buyers outnumber the amount of homes on the market, this is what ensues. So mentally prepare now that the number on that listing may be less than you actually pay.
I’m confident that together we can find the home of your dreams, even in a fast-paced market. I keep on top of all of the latest listings and my ultimate goal is to find you the home of your dreams! Contact me now