You’ve done the research. You know your financial standing. You know what kind of mortgage you want. You know what kind of home you want, and you know that this one is it.
There’s still a lot that needs to be done before you sign on that dotted line and get your keys. Here are some things to consider in order to make the fairest offer for yourself:
Don’t think that this is the only good house out there.
There are plenty of houses that will likely make you just as happy as the one you’ve set your heart on. Once you realize this, you can feel less desperate in coming up with an offer. Know that if it comes to a point where you have to walk away, you have that option. And there are plenty of fish in the sea, so don’t cling to this one at all costs.
Do more research.
Unfortunately, research is a part of every step in the home buying process. You need to research your financial standing, the housing market, real estate agents, lenders, inspectors, and (of course) houses. But you should also do as much research as you can on the owner. Make sure you know a bit about the owner’s background and why they decided to put their home on the market. This will allow you to make an informed offer.
Speak from a position of power.
As the buyer, you are able to make contingencies that go beyond the sales price alone. You can demand certain investigations, like a home inspection, and that certain components of the house are fixed or paid for by the seller. Understand the battles you want to pick and the authority you have as the seller. Find out more details about contingencies you can make here.
Get the right experts to help you along the way.
Invest in good home inspectors to evaluate problems with the home. Hire quality title insurance and escrow officers to close the deal. Again, this involves research. Compare the charges between companies before picking one to hire. Ask for a written itemization from each company before deciding.
Learn more about home inspection here, title here, and escrow here.
We hope these tips help you make the best offer possible!
Want to learn more from someone on Our Team? Feel free to Contact Us. We're happy to help.