This year has been very challenging for home buyers. Low mortgage rates, increase in building materials and low inventory has made the home buying process very difficult. Homes that are in great condition and well priced always receive multiple offers. However, we never recommend waiving the inspection. But what to do to help your offer get accepted? It’s all about the terms of the purchase agreement, your financial situation and the amount offered. A home value report, more down payment, significant earnest money, conventional loans and having less conditions on your loan will help. Sellers want to net as much as they can, but most importantly they want to work with a buyer that will get them to the closing table with no issues. So many cash offers this year, we want to make your offer stand out!
The most important step to buying a home is to be financially ready. Working with a lender will put you in the best position to buy a home even if it takes a little bit of time to get there. Having a strong financing and a short inspection contingency will help get your offer accepted. Letting the seller know that you want to make sure that the big ticket items are in good condition, and that you are not worried about minor/less expensive repairs helps a lot.
Now, how much more should you offer to win? That depends on the home value report and how long you want to stay in that home. The real estate market is always in motion and it's very competitive. Strategies need to be in place in order to secure homes for our clients. Working together we can make your homeownership dream come true!
Contact me and let’s talk about your goals!
Maria Susana Huntwork
Realtor
Phone: 612.322.0132
Email: mariashuntwork@mnhomemaster.com