The seller’s market can be a massive advantage or something that works against you whenever you are looking for your dream home, and it can even mess with you getting your dream home. A seller’s market is whenever there are more buyers than there are homes, so competition for your dream house is fierce. Even if you pay the asking price, you could still be at a disadvantage.
So how do you handle a seller’s market while still getting the house you want for a good deal? Here are a few tips to make sure you get the most from a seller’s market!
Make Working With You Easy
You’ve probably worked with people who are easy before. They are kind, do everything well before the deadline, and treat disagreements cordially and help you solve them. There are also people who are hard, and they tend to make every conversation a chore. Be the first kind of person and not the second.
Clean offers are free of hidden contingencies and seller concessions, so make sure to make working with you as risk-free as possible. If the sellers see you as easy to work with and know exactly what they are getting into, they will make sure that you are one of the first people they call.
Offer More Money On The Offer
If you truly want the house and just the house, then don’t let money stand in your way. While you don’t want to go extremely over budget, you can take advantage of the fact that everyone else is going to focus on racing one another to the bottom and instead stand at the top. You can offer 2,000 to 3,000 dollars over the asking price, and show the seller that you are serious about buying the home.
This will keep you in the mind of your seller, and also allow you to make sure that you are still making a payment according to the value of your home. If you price it right, you won’t have to worry about a massive change to your mortgage.
You can also offer a larger down payment in your loan for the house, sending another message that you are willing to put more money down and that you are in a good financial position.
Complete Your Offer
Finally, make sure that the offer that you send your sellers is complete and all the details are perfect. You’d be surprised how many people don’t check all their offers and leave out some details, and even if the mistakes are corrected, it still causes the sellers to look to other people who have their work completed.
Focus On The Small Things
You need to show that you are serious about buying the home and that you have the financial resources to meet every obligation that the seller has of you. If you make sure to go the extra mile in all your negotiations, then you will get into the seller’s heart.
Make sure to meet all the details, turn everything in on time, and follow up with everyone involved to avoid miscommunication or mistakes. If you are proactive, then that’s good, because sellers really enjoy a proactive person.
Take your time to get everything right, and you will be able to rise above the petty squabbles of the seller’s market and get the dream home that you love. You might pay a bit more for it, but if you are truly in love with the home, it will all be worth it for what you get.
Real Estate Agent in Stillwater and Surrounding Areas
If you are looking for a new home, contact Wendy Gimpel today! She is a real estate professional in the Stillwater area and has been in the business for over 20 years. With an expertise in the high-demand, the fast-paced local market, and savvy attention to detail that her clients love, Wendy has the skills clients both depend on and trust.