Whether you are buying your first home or the one you plan to retire in, the key is to focus on what you can control. When you enter a competitive seller's market, you can be quickly overwhelmed by how much the process relies on other people. For instance, the seller has to accept your offer.
Don't make the mistake of thinking you are powerless. By focusing on making your offer more substantial, you can significantly increase your chances of landing the home you want.
Real Estate Agents
People may make the mistake of thinking that hiring a real estate agent is a barrier to entry—something you have to do to buy a house. Shift your perspective by thinking about a real estate agent as someone who is on your team. Their success is dictated by yours.
Ask your friends and family if they can refer who to someone they trust or have worked with. Real estate agents may have strong ties to certain areas. It isn't uncommon for agents to know which properties are going up for sale before they list.
The Best Offer
The best offer doesn't necessarily mean the one that offers the largest amount of money. For example, a person might offer a lower amount but with cash. This could shorten the sale period and leave out potential hurdles like loan approval. The guarantee adds value to the deal.
Most people cannot make a cash offer. There's nothing wrong with that. Another way for you to increase the offer's strength is by making it a clean one. The fewer contingencies your offer has, the more attractive it may become.
The offer being contingent on the sale of your own home is a significant one. If the seller accepts this offer, they know they are now dependent on you to sell your house. When you buy your first home, you will not have to deal with this. Given the right conditions, people sell their homes and move in with relatives or pursue short-term rentals. Though the situation is not ideal, it does remove a large contingency from any future offers you make.
Hamilton Law, PLC
Buying your first home should be a memorable and joyous experience. Hamilton Law prides itself on being service-oriented and personable. Our relaxed yet professional approach allows us to work diligently on behalf of our clients. We represent people of all economic backgrounds, and we look forward to being the best part of your next real estate transaction. Contact us to schedule your free consultation.