Five keys to success when buying a home in a sellers market

There is no doubt that we are in a Real Estate sellers market. Many sellers are getting multiple offers for their home, so what can you do to ensure that your offer is the one that gets accepted?  Here are five tried and true ideas:

a)     Offer over asking price

  1.  Do your homework and offer to pay more than the asking price while making sure that you are not paying too much but enough to get the deal done. If you are unsure, find a seasoned Real Estate agent to help you through the process.

b)    Waiving inspection contingency

  1. The agent should be well versed in construction and inspection of homes. All the little details about how well or poorly a home is built. Is the foundation in good condition, how long will the roof last, etc.

c)     Waiving appraisal contingency

  1. Give a seller the comfort of knowing that even if their home does not appraise as high as what you are offering to pay, that you are still committed to buy the home. A good agent will help you navigate through this risky step.

d)    Shortening or lengthening closing date.

  1. Giving a seller the flexibility to close and move out when they want to. This can sometimes be the key to getting your offer to look better than even one that is higher.

e)     Financing the purchase. Conventional loans are preferred versus FHA or VA loans. Government loans have additional requirements and can complicate the process, as you get closer to finalizing the purchase and closing on the home.

If you have been looking to buy a home in today’s market, you may have seen your offer to pay the asking price or even higher not getting accepted. Don’t let this happen to you again; get help from a Real Estate agent that knows how to play the game in today’s environment.

For additional information please contact me, Sean Roque at sean@seanroque.com or call 913-706-3971.

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