Home buying varies differently, depending on where you live as well as the time of the year. However, spring-time in most parts seems to spark a home buying frenzy, which generally makes the real estate market this time of year, a competitive one. If you are a home buyer looking to buy in the spring, these tips will help excel you ahead of the game.
Getting preapproved almost always guarantees that the funds you need to purchase a property is readily available, which gives you an advantage over other buyers. However, be sure your lender’s preapproval is by a local bank or mortgage company because it tends to gain more notarization and presence over unknown online or out of area lenders.
Offer the Seller Something that Other Buyers May Not
Negotiation is not just about price. In fact, the purchase offer contains many terms which are up for negotiation. Your negotiation can be something as simple as giving the seller an additional day to vacate the premises. Just be sure to ask your agent to make the offer for you in order to avoid waiving your rights.
Hire a Neighborhood Specialist
Working with an agent is a plus for you. Most real estate agents specialize in the area, which means they can provide you with a wealth of information when selecting a home in a specific area. In addition, the agent is most likely well respected among the area’s listing specialist agents, which means they can locate the property you are in search of.
Focus on the Home
Sometimes seller conditions, such as a short sale, foreclosure, or purchasing from a traditional seller, can cloud a buyer’s judgment and keep them from focusing on the real goal, which is location. When shopping for property, concentrate on homes that meet your basic requirements.
Be Prepared to Pay the List Price
If worse comes to worse, be prepared to pay the list price. Some buyers are intent on selling the property based on what other homes are selling for as opposed to what the home is really worth. Ask your agent to show you a list of comparable homes in the same area to determine an actual value. Just remember, in the end, sellers can ask whatever they want. If you are getting a home at a price you can afford, whether it is more or less than the market value, then stick with the overall plan of things.