How to make the Offer
After months of looking at home after home that just didn’t meet the mark, you finally have found your dream home. It is now time to make the offer and you want to have the best chance of having your offer accepted. You can’t just low-ball a seller even in this market. Sellers tend to get their feelings hurt and get angry and then your offer is out and you’re done. But, you also don’t want to pay more that the home is worth so you will have to be strategic and smart about your offer. Here are some tips to help you make the perfect offer.
Get Pre-approved for That Dream Home Loan
Most sellers these days won’t even show you their home without you being pre-approved for the loan. This shows the sellers and the realtors that you are a serious buyer. You will need to sit down with a potential lender so they can verify your financial information. It is not as thorough as an actual mortgage application but it will give you a good idea of how much you can qualify for in a loan. It won’t truly be your Dream Home if you don’t get the dream loan.
Seek the Help of a Realtor
I know it is sometimes much easier to just search the internet and find the homes you are interested in and contact them yourself. However, working with a buyer’s agent can really help to pare down your hunt for your dream home to the homes that fit your criteria. Most importantly, they can help you with negotiations. They can provide you with all the comparables, neighborhood and area home values. Knowing the true value of the home and the arguments for it, are crucial to making the right offer.
To Get Your Dream Home Get Your Ducks in a Row
There are a lot of steps to buying a home and if you have jumped many of the hurdles before you make an offer, you will be so much more secure in your offer. Make sure that you have applied for your mortgage and provided every single item they requested so it can all be turned in at the same time. If you have your ducks in a row, it will save you extra days or weeks of waiting for your loan to be approved. Find an experienced home inspector and make your appointment. Keep in contact with your loan officer and push for the soonest appointment from a home appraiser. Calling your loan officer every three or four days will keep your loan on their mind so it won’t get lost in a pile on someone’s desk for weeks. Now, you are set to make the offer, using the home value knowledge you have studied with your realtor, your loan is in the works, the home inspection will be soon, as well as the lender’s appraisal; you and your realtor can sit down and write out the offer. The offer needs to include contingencies for funding, appraisal value and the home inspection to protect you, while trying to set up a win-win environment for both parties.