Video: 5 Creative Ideas to Help Home Buyers in a Competitive Market.
In a competitive Real Estate market it’s easy to be apprehensive, or to feel that you might over pay for a home. Keep in mind that if you are getting a mortgage, it’s nearly impossible to overpay unless you want to. The property appraisal will always determine what the lender will be willing to finance.
As for being discouraged by a possible cutthroat home-buying process, there are many creative things you can do to give yourself an edge when you’re ready to purchase a home, 5 of which are mentioned in the video below.
In the past, my clients have tried making an offer ‘sight unseen’ to submit an offer as quickly as possible. Contrary to popular belief, there is very little danger in this. You have an inspection period built in to your contract and in addition to a Home Inspection it allows inspection of absolutely everything else. If you are unhappy with condition, location- too close for instance, to railroad tracks or retail, bedroom sizes could easily be an issue, accessibility, neighborhood crime stats, anything that your due diligence uncovers that is unacceptable to you makes the contract cancellable.
Another tried and true theory is for the Home Buyer to appeal to the Seller’s better nature by expressing their precise reasons for wanting to live in that particular home. Perhaps you have a physically challenged family member and there are wide doorways and no steps. Perhaps it would be detrimental in some way, for your children to be moved out of a particular school district. Whatever your reasoning, always be sure you are not taking advantage. Be sure your offer is fair and be honest.
If you have extra cash on hand, putting extra earnest money up front is another way to show how serious a buyer you are. You are protected by the contract and a good buyer’s agent will make sure your earnest money will be returned to you if the deal should go south.
Video: 5 Creative Ideas to Help Home Buyers in a Competitive Market
For your convenience there is a transcript directly below this video.
Video Transcript: 5 Creative Ideas to Help Home Buyers in a Competitive Market
In today’s low-inventory housing market you need to think creatively when pursuing a new home.
Welcome to Today’s News Update everyone, I’m Jenny Dunn.
With fewer homes on the market, chances are you will find yourself competing against one or more other potential buyers for that home you fell in love with. However, some unconventional thinking could give you the edge you need to make the winning offer.
For example, make a cash offer. This eliminates potential hurdles such as bank qualifying and other financing contingencies.
Offer the seller a super fast closing. If you can get inspections, financing, and all the other documentation together quickly, tell the seller you are willing to close in two weeks or less.
If you have a Time Share, offer the seller a weeks vacation.
Give the seller a couple extra weeks to move out.
Offer to pet sit while they move.
Some creative thinking can give you the edge over other buyers.
Thanks for watching, see you next time.
For more information, Call or Text: 602-999-0952
eMail: golfarizona@cox.net
Bill Salvatore / Arizona Elite Properties
Residential Sales, Marketing, and Property Management
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More Resources for Home Sellers and Home Buyers
Our Buyer’s FAQ page has 9 of the most frequently asked questions from Home Buyers, along with 10 additional resources for Home Buyers at the bottom of the page.
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Thinking of Selling your home? First check out our 9 FAQs for Sellers. Then read on, there are 9 additional resources for Home Sellers at the bottom of the page.
Home Buyer’s Frequently Asked Questions
Home Seller’s Frequently Asked Questions
