17 May Insider Strategies for Buyers
As a home buyer, have you ever felt at a disadvantage, whether it be because it’s a sellers’ market or you’re just plain intimidated by large, complex financial transactions like buying a home? Most of us have at one time or another.
I’m willing to bet you’d love some insider secrets for your next purchase. Well, my friend, that’s what I’ve got for you today! I’m a Realtor® now, but in my previous career I was a real estate attorney, so when I combine both of those skill sets I’ve got lots of great tips to help give you the confidence to feel like a budding real estate tycoon for your next home purchase.
Define your ‘win?’
The first thing you need to do is define what makes a win for you. Yes, getting your optimum purchase price is what most people think of first, however, there are other aspects of the deal that will make it a win, in addition to the financial piece. In a seller’s market it may seem tough for sellers to go for a win but we can negotiate some winning terms such as sellers contributing to closing costs and getting your preferred date for closing and transfer of possession. Or a win may be purchasing that piece of furniture you noticed fits exquisitely in one certain space in the home. Keep an open mind and be sure to discuss with your Realtor®.
In a multiple offer scenario
Find out how you can offer to sweeten the deal. Do the sellers need a quick sale? Do they need a specific closing date further in the future because of their constraints? Can you offer a cash purchase or shorter due diligence? Consider including an escalation clause in your contract, which allows your offer to be automatically escalated if counter-offers arise. Your agent should be willing to find out from the seller’s agent how a deal could be sweetened to get their attention. Be willing to act on those options.
Know what you’re buying
Since you are ultimately responsible for the home you are purchasing, make sure all the necessary due diligence is being completed. For example, make sure to have a home inspection, a survey and a radon test. I also recommend my clients request a home warranty and a termite bond. These items are not always standard practice, so protect yourself and your investment to insure they’re done properly and you have seen the results of any of the inspections and tests.
Above all, choose to work with a Realtor® that will represent you and your interests well. They need to listen to you and be willing to go the extra mile to make your purchase a success. If you need that kind of agent, I’m happy to help you! Please reach out by phone or text at 404.218.6714 or visit my website at www.jesscs.com.
Happy House Hunting!