Real Estate Buying Tips In A Seller’s Market
As the real estate market in West Los Angeles continues to flourish and competition is high for each property, here are some real estate buying tips you can follow in order to gain an advantage in a bidding situation.
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[list_item]Work with a real estate agent that is also a good negotiator. By doing so you will be able to obtain information from the listing agent on what terms are most important to the seller, which gives you the opportunity to put together an offer that addresses the seller’s needs/wants.[/list_item]
[list_item]Have your real estate agent be present during the presentation of the offer to the seller. This gives your agent the ability to look at way in which you may be able to revise or modify your offer that meets the seller’s needs and that still have your best interests at heart. Personal interactions and relationships are key here as counter-offers can often get unruly and potentially halt all proceedings.[/list_item]
[list_item]Simplicity is best. Keep your offer simple and don’t complicate it with minimal items like requesting a leaking faucet to be fixed. Most of these items will be covered in the buyers’ right to a final inspection of the property, no need include in your formal offer.[/list_item]
[list_item]Consider placing a large earnest money deposit to show you mean business and are a serious buyer. One step further, make it non-refundable and payable directly to the seller upon acceptance of the offer.[/list_item]
[list_item]Work with a qualified lender. Have your licensed loan officer call the listing agent or seller directly to vouch for your ability to obtain the proper financing needed to purchase the property.[/list_item]
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Considering these real estate buyers tips will set you apart from your competition and position you in the best light possible to buy your dream home.
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