Our Real Estate Blog
As a homebuyer, you likely will want to do everything possible to secure your dream house at a budget-friendly price. Yet for those who are dealing with an aggressive property seller, achieving the optimal results may prove to be challenging.
Lucky for you, we're here to help you simplify the homebuying process so you can acquire your ideal residence at an affordable price – even if you're forced to deal with an aggressive home seller.
Now, let's take a look at three tips to help you deal with an aggressive property seller and accomplish your desired homebuying results.
1. Remain Patient
It may be tough to deal with an aggressive home seller at times, but those who stay the course can buy a house that matches or exceeds their expectations.
Remember, a patient homebuyer generally is a happy homebuyer. If a buyer avoids rash decisions and remains calm, cool and collected when dealing with an aggressive seller, he or she can boost the likelihood of making the best-possible choices throughout the property buying journey.
2. Focused on Your Desired Results
The ultimate goal of the homebuying journey is to find and buy a house that you can enjoy for years to come. In some instances, an aggressive seller may make it difficult for you to accomplish your goal. But if you prioritize the end results of the homebuying journey, you may be better equipped than others to secure a terrific residence.
If you focus on the big picture, you may be able to reduce the risk that minor issues with an aggressive home seller could slow down the property buying journey. And if you do whatever it takes to achieve your desired homebuying results, you may be able to find unique solutions to various problems.
Don't forget to maintain open communication with a seller. If you open the lines of communication with a seller, both you and a seller can work together to ensure all parties are satisfied with the results of a home sale.
3. Hire a Real Estate Agent
If you're uncertain about how to deal with an aggressive seller, you may want to hire a real estate agent. That way, you'll have an expert negotiator at your disposal.
A real estate agent is happy to negotiate with a home seller and his or her agent on your behalf. By doing so, a real estate agent will minimize the risk of potential property buying delays.
Let's not forget about the frequent updates that a real estate agent provides during a negotiation with a property seller, either. A real estate agent will keep you informed about seller negotiations and ensure you can move along the homebuying cycle. And if you ever have concerns or questions during the homebuying journey, a real estate agent is ready to respond to them at your convenience.
Manage the homebuying journey like never before – use the aforementioned tips, and you can avoid the headaches commonly associated with dealing with an aggressive property seller.
The homebuying journey may be complicated, particularly for those who fail to plan for it. Fortunately, there are lots of things that you can do to boost your chances of enjoying a successful property buying experience.
Now, let's take a look at three tips to help you start a successful homebuying journey.
1. Establish Criteria for Your Home Search
Create homebuying criteria – you'll be glad you did. With homebuying criteria in hand, you can speed up the process of finding your dream residence.
Think about the features you want to find in your ideal house. For example, if you want to own a residence that boasts a luxurious in-ground swimming pool, you can search for houses that offer this feature. Or, if you want to purchase a home that includes a central air conditioning system, you can hone your house search accordingly.
Don't forget to consider where you want to reside too. If you prefer big city life over small town living – or vice-versa – you should account for this factor as you kick off your house search.
2. Get Your Finances in Order
Obtaining a home mortgage is key, especially for individuals who want to streamline the homebuying process. Luckily, banks and credit unions are happy to help you select the right mortgage based on your individual needs.
Banks and credit unions employ friendly mortgage specialists who can take the guesswork out of home financing. If you meet with these professionals, you can learn about all of your mortgage options. Then, you can select a mortgage and enter the housing market with a budget.
3. Hire a Real Estate Agent
Navigating the homebuying journey on your own may prove to be exceedingly difficult, regardless of whether you are operating in a buyer's or seller's market. However, if you hire a real estate agent, you can simplify your house search and discover your dream residence without delay.
A real estate agent knows the ins and outs of the housing market and will share his or her expertise with you. That way, you can work with a real estate agent to become a housing market expert.
In addition, a real estate agent offers comprehensive support throughout the homebuying journey. He or she first will craft a custom homebuying strategy for you based on your property buying goals. Next, a real estate agent will keep you up to date about available houses in your preferred cities and towns. Once you find a home you want to buy, a real estate agent will help you submit a competitive offer to purchase it. Finally, a real estate agent will guide you through the home closing process.
For those who want to enjoy a quick, easy homebuying experience, it usually is a good idea to plan ahead as much as you can. Thanks to the aforementioned tips, you can launch a successful homebuying journey and take the necessary steps to acquire your dream residence any time you choose.
The process of buying a home is anything but cut and dry. There will undoubtedly be some twists and turns along the way. First, you need to be pre-approved for a mortgage. Then, you’ll need to find a home that fits both your needs and your budget. Finally, you’ll put in an offer on a place and hope for the best throughout the rest of the process.
There are plenty of things that you can do as a buyer to make buying a home both easier and more streamlined. Below, you’ll find some of the best tips that are specifically for those seeking to buy a home.
Give Them An Offer They Can’t Refuse
When there is a low quantity of homes and a high number of buyers, competition can get fierce. When the market is like this, you’re not guaranteed to get a property that you put an offer on. It may take making several offers on homes in order for you to finally get the keys to your dream house.
You never want your offer to be too low. A low offer could be insulting to sellers and instead of being countered, could just be outright refused. Make an offer too high and you still have a problem. A high offer may be accepted, however, it’s not going to be approved by your mortgage company for you to borrow that much for the purchase. If an offer is accepted and a home appraises for less, you may be left with thousands of dollars that you need to pay on the spot in order to secure the home.
The best way to present an attractive offer is to work with an expert realtor who can do the appropriate research and let you know what a good offer on the home would be.
Know Your Contingencies
After an offer on a home has been accepted, you need to get to work on the contingencies that you’re going to want on the home. Your realtor will also be a huge advocate in this area. Contingencies will include things like the right to do a home inspection, the appraisal contingency, and the contingency that you’ll only be able to move forward with buying the home if you have appropriate financing. These protect you as a buyer so that if something falls through, you’ll be able to back out of the deal without a penalty.
Don’t Go Credit Happy
Once your offer is accepted and your financing is in place, don’t head out to buy tons of new furniture and appliances for your new home. Your credit matters until you get the keys to the house. Opening new credit cards or adding significant debt can affect your credit score negatively, possibly putting a damper on your home purchase. Hold off on making purchases until after you move into the house.
Finding the ideal home for your family's needs is no easy task, but if you stay organized and focused, the right property is sure to come along!
One of your most valuable resources in your search for a new home is an experienced real estate agent -- someone you trust and feel comfortable working with.
They'll not only set up appointments for you to visit homes in your desired price range and school district, but they'll also help keep you motivated, informed, and on track. Once you know and have shared your requirements (and "wish list") with them, your agent will be able to guide you on a path to finding the home that will best serve your needs -- both short- and longer term.
In addition to proximity to jobs, good schools, and childcare, you'll probably want to pick a location that's close to supermarkets, recreation areas, and major highways. If you have friends or family in the area, then that would also be a key consideration.
While your immediate needs are a good starting point for creating a checklist of requirements, it's also a good idea to give some thought to what you may need in the future. Plans to expand your family, possibly take care of aging parents, or adopt pets are all factors to consider when looking at prospective homes to buy.
If you have college-age children or recent graduates in the family, you might have to save room for them in your new house. Many grads need a couple more years of financial and moral support from their parents (not to mention home-cooked meals) before they're ready to venture out on their own. Houses with a finished basement, a separate in-law apartment, or even a guest cottage on the property are often well-suited for multigenerational households.
In many cases, people tend to buy a home based on their emotional reaction to it, and then justify the purchase with facts. For example, if the price was right and a particular house reminded you of your childhood home, then that combination of elements could prompt you to make an offer on the house -- assuming those childhood memories were happy!
Sometimes prospective buyers might simply love the look and feel of a neighborhood or the fact that there's a spacious, fenced-in back yard in which they can envision their children or dogs happily (and safely) playing.
According to recent surveys, today's buyers are attracted to homes that have energy efficient features, separate laundry rooms, and low-maintenance floors, counter tops, and backyard decks. Gourmet kitchens, stainless steel appliances, a farmhouse sink, a home office area, and outdoor living spaces are also popular features. Although your tastes may differ, many house hunters also like design elements such as subway tiles, hardwood floors, shaker cabinets, pendant lights, and exposed brick.
When it comes to choosing the home that you and your family will live in for the next few years, your top priorities will probably include a sufficient amount of space, plenty of convenience, and a comfortable environment in which you and your loved ones can feel safe, secure, and happy for the foreseeable future!
In real estate, cash is power. It’s not exactly the amount of money that you have been approved for by a lender. This type of “cash” is what you can pull directly from your account to buy a property on demand. It can be difficult to compete with cash buyers especially in tight real estate markets. Below, you’ll find some tips to help you match up against any cash offers that you may be competing with when you buy a home.
Make Your Offer Look Attractive As Possible
First, you should always have a pre-approval letter from your lender. This lets sellers know that you’re a qualified buyer. You should also get your lender or realtor (or both) to provide some financial information about you along with your offer. This helps to add to the case that you’re a dependable buyer.
Let Things Move Quickly
If you allow your lender to send an appraiser to the property as quickly as possible, this will give you an advantage in the home buying process. You want to reduce the amount of time that it will take to close on the house. That means you should consider cutting down on both the appraisal and contingency time. You could even consider waiving any contingencies if you feel comfortable.
To speed up the process, even more, you should pre-order an appraisal in advance. You can do this before your offer has even been written. It can be difficult to arrange this, especially with larger scale lenders, but it’s always worth a try. Once the offer is written, the lender can relay to the seller that an appraisal has already been scheduled.
You’ll also want to get the inspection done fairly quickly. You only have a short window of time to get the inspection done. The quicker you get this done, the more serious of a buyer you appear to be. You should have the inspector who you’ll use ready before you even put an offer in on a home in order to expedite this part of the process. Usually, inspectors don’t take terribly long to schedule appointments knowing that their clients have short windows to get inspections done.
Make A Strong Offer
Making a good offer could mean paying extra for a home you love in order to compete with cash offers. Spending more money helps to win. Here’s why: Sellers almost always will give a cash buyer a bit more of a discount since they’ll be getting all of the funds up front. If you love the house and plan to live in it for years to come, the extra money you spend will be well worth it.
Write An Offer Letter
An offer letter adds a bit of a personal touch to the number you put down as a buyer. Here, you can tell the seller who you are and why you love the home. It can be emotional to sell a property, but a seller will feel more comfortable knowing that the home is going to someone who will appreciate it.