Collins & Demac Real Estate



Posted by Collins & Demac Real Estate on 7/19/2018

If you’re in the market to buy a home, you want to find the perfect place for you and your family. In a seller’s market, the competition can be fierce. As a buyer, you may be under the impression that you need to make the highest offer in order to secure the home of your dreams. The problem is, you may never know what price other people have offered for the same home.


Know Your Budget


First, you should know what kind of a budget you have to work with to buy a home. You probably have done an online search to see what’s out there and what price range the homes you like fall into. You’ll want to go beyond the online search and actually see some of your favorite houses in person because pictures can be deceiving. 


Next, you’ll want to do is speak with a lender. This can help you before you even hit the ground running on your home search. A lender can pre-qualify you then work you through the process of pre-approval. This will give you a definitive number to work with when searching for a home. With this number, you’ll know how much you can offer comfortably when you find that house you fall in love with.


Make A List Of Priorities


Finding the “perfect” house usually requires that you make a few compromises along the way. It’s very unlikely that you’ll find one house that gives you everything you want in one place without a bit of imagination. Jot down all of the things about a home that are the most important to you. These items could include:


  • The neighborhood
  • Big backyard
  • Open floor plan
  • Number of bedrooms
  • Hardwood floors
  • The size of the rooms
  • Style of the house
  • Granite countertops


Whatever is important to you should be on the list. Next, go through the list and see what can be compromised on. There are probably a few luxuries on the list that you could stand to give up in lieu of something else.  


The Offer


Once you find that home you know that you absolutely want to live in, you’re going to want to make an offer. Let your realtor know immediately that you’re interested in the home and they can get to work. Your realtor can help you to make an offer that’s reasonable based on the asking price and your budget. Your offer doesn’t have to be thousands of dollars over the asking price for you to win the bid. There are a couple of strategies that can help you to land the right home even if you’re not stretching your budget to the max.


Showing You’re Serious


Taking steps like being pre-approved and having all of your finances in order can help to give you the upper hand in the house hunt. Sellers don’t want to deal with a buyer who is ultimately going to have issues where the deal will fall through.


The Offer Letter


Writing a letter along with your offer is a great personal touch to help you land the home of your dreams. If a seller knows that the home they have lived in and loved will go to another owner who is going to appreciate and take the same great care of the home, they will be more likely to go with you as a buyer. First, tell the seller a bit about yourself and why you love the home so much. Compliment the landscaping. Tell the seller just how much your kids are going to appreciate living in the home. Don’t be afraid to get too personal when it comes to writing an offer letter to the sellers. They will appreciate honesty and a candid approach in the sometimes all too serious matter of buying a home.





Posted by Collins & Demac Real Estate on 10/12/2017

The housing market presents many opportunities for homebuyers. And after the right amount of research, you're sure to find plenty of exceptional houses that suit you well. But how do you know when you're ready to submit an offer on a residence? Determining the "perfect" offer for a house is key, and if you feel comfortable with your proposal, you may be better equipped to receive a resounding "Yes" from a home seller. Improve your chances of submitting the perfect offer on a residence – here are three tips that you can use to submit the right offer on a home: 1. Consider the Home Seller's Perspective. Of course, when you submit an offer, you likely want to make a proposal that fits your needs and budget. On the other hand, you must consider the home seller and ensure your offer represents a fair deal for both sides. If you submit a "lowball" proposal, there's a strong chance that a home seller will reject it immediately. Conversely, if you submit an above-average proposal, you may wind up paying a price that exceeds your budget. To make the right offer, evaluate the home seller's price as well as the price of similar homes in an area. By doing so, you'll be better equipped to make an offer that corresponds to the current housing market. Also, don't be afraid to discuss your proposal options with your real estate agent, as this professional may be able to offer insights that you can use to boost your chances of getting a "Yes" from a home seller. 2. Prepare for Plan B. Even if you consider your offer to be fair for both you and a home seller, there are no guarantees that a home seller will feel the same way. Thus, you need to be prepared to act quickly in the event that a home seller declines your offer. If a home seller says "No" to your proposal, you can always submit another offer. Or, you may want to consider moving on and evaluating other homes that are available. 3. Be Realistic. It is essential to feel comfortable with an offer you submit on a house. And the moment things start to make you feel anxious, you may want to reconsider your options. For example, a home seller may counter your initial proposal, but you might lack the finances to meet this seller's expectations. In this scenario, you should be unafraid to walk away. That way, you can avoid the dangers associated with over-extending your budget, which could put you in a tough financial position down the line. Remember, the perfect offer on a residence is one that fulfills the needs of both a homebuyer and home seller. If you feel uncomfortable with a home seller's counter offer, you need to understand the situation and act accordingly. Submitting the perfect offer can be tricky, especially if you're dealing with a home seller who sets the bar high for his or her residence. Fortunately, your real estate agent can help you alleviate the stress commonly associated with making an offer and ensure you are fully supported throughout the homebuying process. Work toward submitting the perfect offer on a home, and you can bolster your chances of a home seller accepting your proposal.







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