The Holidays are a upon us and for many of you its planning time to be with families. The busy time can also make some of us lose focus on goals that we are trying to accomplish.
Buying or Selling a home.
Buyers
Stay focused keep your goal in front of you. Whether you have a plan to move into a home by Dec 31st or wait for the hustle & bustle to be over, and close in January, here are a few tips to help ease some of the stress.
1.) Get Pre Approved. Not pre qualified. Pre qualified means you have a lender who has looked at your credit and says you can possible buy. Pre Approved means your lender is confident enough to submit what he has to the underwriter to get your loan approved.
2.) While your looking, whether your pre-approved or pre qualified, get all the necessary paperwork together now, before you find your perfect home. Inventory is very low right now, and chances are if your are not ready to place an offer, another buyer could potentially grab your dream home.
3.) The stronger your offer, the better chance you have of getting the home. A couple way to make a good solid offer.
A.) Have all your paperwork into the lender, so you can tell your agent, you are ready to go to underwriting.
B.) Escrow Money (Deposit in some states). Know the risks of this, and ask your agent. Sometimes if you say I'll put this amount down now, and once everything is met on the terms, I'll put down more, can make your offer stronger in a multiple offer situation. But PLEASE each state is different so ask your Realtor what this means.
C.) Make your price close to of at asking price. If your agent has done a proper CMA (Comparable Market Analysis) chances are this house should be at value, and if it is, it's better to be close to asking than low balling the seller. One you are at risk of a stronger offer from another buyer, or two you offend the seller and he ignores your offer. Again please check with your Realtor.
Tomorrow I will write how this time of year is a great time for the Seller!
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