Today’s market is still competitive in many areas because the supply of homes for sale is still low. If you’re planning on buying a home this fall, here are some tips to make a good offer.
Tip #1: Lean on a Real Estate Professional
Agents are experts in the local market and on national trends too. They’ll use their areas of expertise to make sure you have all the information you need to move with confidence. When looking for a real estate agent, make sure to rely on an agent who can support your goals and help you understand what’s happening in today’s housing market.
Tip #2: Get Pre-Approved for a Home Loan
Having a clear budget in mind is especially important right now given current affordability challenges. The best way to get a clear picture of what you can borrow is to work with a lender so you can get pre-approved for a home loan. That’ll help you be more financially confident because you’ll have a better understanding of your numbers, and it shows sellers you’re serious too.
Tip #3: Make a Fair Offer
It’s only natural to want the best deal you can get on a home. However, submitting an offer that’s too low does have some risks. The expertise your agent brings to this part of the process will help you stay competitive and find a price that’s fair to you and the seller.
Tip #4: Trust Your Agent’s Expertise Throughout Negotiations
Over the past few years, some buyers skipped home inspections or didn’t ask for concessions from the seller in order to submit the winning bid on a home. Fortunately, today’s market is different, and you may have more negotiating power than before. When putting together an offer, your trusted real estate advisor will help you think through what levers to pull and which ones you may not want to compromise on.
So, whether you’re a seasoned homebuyer or a first-timer, these tips will help you navigate the competitive real estate market this fall. Remember, with the right support and preparation, you can make a strong offer and secure the home of your dreams.