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As home prices are drastically shuffling both ways up and down constantly it is becoming more and more difficult to bag good deals. With the current trend the real estate market seems to be shrinking when it comes to affordable homes as there are limited houses for sale and a tough war between buyers.
In order to play the right numbers and stay on top to all the other buyers this follow the simple tips mentioned below and stand out of the crown instantly;
Cash: The best way to buy a home with no compromises is paying cash, but although this seems the ideal approach a vast majority of buyers are motivated to paying in cash. As the biggest perk of paying in cash is no worry about appraisal and the escrow accounts close quickly.
Pre-Approval: If you have a pre-approval not only you seem prepared and way ahead of the game. Also the pre-approval tells the sellers loud and clear that you are a serious buyer and understand how to close a deal quickly.
Pre-Qualification: Either you have a pre-approval or you have a pre-qualification or sometimes both. In either instance you seem more credible to the sellers and for them an ideal candidate.
Flexible: Buying a home can be time consuming so along with displaying the prepared attitude it is very crucial to stay calm and flexible with time and be willing to wait upto 90 days if required. While you wait it is important to understand the sellers demand; Is it a greater price? renovation? find out and negotiate the price, this often seals the deal.
Inspection: Don’t take the inspection lightly if you did trace any flaws make sure you convey the list to the seller and come to a consensus to fix the problem or offer discount or offer credit to get it fixed.
Financing: Generally sellers include financial contingency in the deal unless the buyer plans to buy in cash. However a pre approval brings more clarity for the seller.
Appraisal: If you have researched well and consider the price is appropriate then you can waive this clause. If you decide to waive the appraisal you seem not just ahead of the competition, but the ideal buyer for the seller who wants a quick deal.
Acknowledge: You don’t have to be cheesy, but if you are really serious about the house then express how important the deal is for you in a letter. Sometimes writing a letter may win the deal, because if all the others have expressed themselves through a letter then you should not be the odd one.
Selling a house is a big decision and for a lot of buyers extremely emotional to pack their memories and move on. Follow the simple yet critical protocols to grab your dream house. Don’t forget to share your thoughts and experiences on making an outstanding offer.