Spring has sprung and you know what that means? It’s busy season in the real estate world. Although things are more balanced now than they were during the pandemic, we are still in a seller’s market. This means that when you do find your dream home, you want to come in with the best offer possible. Keep these three tips in mind to make your offer the best it can be.
- Lean on your realtor
Your agent is there to support your goals, rely on them to help you get where you want to be. Your agent is a local market expert, they know what has worked for other buyers in the area, and they know what sellers are looking for in an offer. We use on my team a 17-point bidding war sheet which is essentially a menu of options for our buyers to select from. If your realtor is bringing a 2017 approach to this business, they might have a hard time getting you under contract.
- Know your budget
This may seem like a no-brainer but you’d be surprised what I’ve seen in my career. The best way to understand your numbers is to work with a lender so that you can get pre-approved for a loan. Seller’s these days won’t even look at offers without pre-approvals. Need help finding a lender? I’ve got a guy for you.
- Think it through before making an offer
During the pandemic, houses were flying off the market within hours of being listed. The market today is still hot, but it’s not quite the same pace it was, which means you may have a little time to think things through before jumping to make an offer. If you’re on the fence about a home or maybe its asking price is just out of reach, you may want to take a pause and keep an eye on it. If it doesn’t sell right away, you may have some room to negotiate with the seller.