Caroleann Ohannessian's Blog
If you want to buy your dream house, you'll likely need to submit a competitive offer from the get-go. That way, you can boost the likelihood of receiving a "Yes" from a home seller and proceed along the homebuying journey.
Putting together a competitive homebuying proposal can be simple. Now, let's take a look at three tips to help you prepare a competitive offer to acquire your ideal residence.
1. Look at Your Homebuying Budget
Entering the real estate market with a budget in hand generally is beneficial. This budget will enable you to narrow your house search to residences that fall within a certain price range. Plus, your budget can help you define exactly how much you can offer to acquire a residence.
When it comes to mapping out a homebuying budget, you should meet with several lenders. These financial experts can help you get pre-approved for a mortgage. And with a mortgage in hand, you'll know exactly how much you can spend on a house.
2. Review Housing Market Data
Housing market data can make or break a homebuying proposal. If you assess real estate market data closely, you can uncover a variety of patterns and trends. Then, you can use this information to craft a competitive offer that accounts for the present real estate market's conditions.
Of course, it helps to evaluate the age and condition of a house as well. Learning about all aspects of a house will help you determine whether to submit an offer at, above or below a seller's initial asking price for his or her residence.
The more information that you obtain about a residence and the current housing market's conditions, the better off you will be. Because if you take a data-driven approach to buying a residence, you can define a competitive offer for any home, in any housing market and at any time.
3. Consult with a Real Estate Agent
A real estate agent is a difference-maker, particularly for a homebuyer who is uncertain about what differentiates a competitive home offer from a "lowball" proposal. In fact, a real estate agent will go above and beyond the call of duty to ensure that you can acquire a great house at the lowest-possible price.
Typically, a real estate agent will provide you with a wealth of housing market insights. He or she also is happy to teach you about the real estate market and respond to any of your homebuying concerns or questions.
A real estate agent can offer recommendations about how much you should offer to pay for a house too. He or she will provide honest, unbiased homebuying suggestions to help guide you in the right direction throughout the homebuying cycle.
If you want to purchase your dream house as quickly as possible, there is no reason to delay any further. Take advantage of the aforementioned tips, and you can prepare a competitive offer to purchase your dream residence.
As a condo buyer, it is important to find a property that matches or surpasses your expectations. At the same time, you'll want to do everything possible to avoid paying too much for a condo.
What does it take to shop for a condo and avoid the risk of spending too much to acquire your dream residence? Here are three tips to ensure you can pay the right price for any condo, at any time.
1. Browse the Real Estate Market Closely
An informed condo buyer will be able to differentiate a mediocre property from a great one. Plus, this condo buyer will know what it takes to avoid paying too much for a property that is unlikely to deliver long-lasting value.
Take a close look at the current housing market to understand the prices of condos in various cities and towns. By doing so, you can determine the price range for condos that fit your needs.
Don't forget to check out the prices of recently sold condos in your area too. That way, you can understand how long condos typically are available before they sell and map out your condo buying journey accordingly.
2. Get Pre-Approved for a Mortgage
Pre-approval for a mortgage will allow you to define how much you can spend on a condo. It also will enable you to reduce the risk of stretching beyond your financial means to acquire your dream condo.
To get pre-approved for a mortgage, you'll want to meet with several banks and credit unions before you kick off your condo search. This will allow you to learn about both fixed- and adjustable-rate mortgages and the pros and cons associated with these mortgages.
Furthermore, don't be afraid to ask lenders how different types of mortgages work, as this will enable you to select a mortgage that corresponds with your budget both now and in the future.
3. Consult with a Real Estate Agent
Employ a real estate agent to assist you along the condo buying process – you'll be happy you did. This real estate professional will do what it takes to help you land an exceptional condo at a budget-friendly price.
A real estate agent understands the differences between a buyer's market and a seller's one. As such, he or she can offer tips at each stage of the condo buying process, ensuring you can buy a top-notch condo without spending too much.
In addition, a real estate agent will take the guesswork out of going from condo buyer to condo owner. This housing market professional will set up condo showings, negotiate with condo sellers on your behalf and much more. That way, you can accelerate the process of acquiring a great condo.
Buying a condo at an affordable price may seem impossible at times, but a real estate agent will make it simple for you to do just that. Consult with a real estate agent today, and you can improve your chances of securing a condo without the risk of overspending.
As a homebuyer, you likely will want to do everything possible to secure your dream house at a budget-friendly price. Yet for those who are dealing with an aggressive property seller, achieving the optimal results may prove to be challenging.
Lucky for you, we're here to help you simplify the homebuying process so you can acquire your ideal residence at an affordable price – even if you're forced to deal with an aggressive home seller.
Now, let's take a look at three tips to help you deal with an aggressive property seller and accomplish your desired homebuying results.
1. Remain Patient
It may be tough to deal with an aggressive home seller at times, but those who stay the course can buy a house that matches or exceeds their expectations.
Remember, a patient homebuyer generally is a happy homebuyer. If a buyer avoids rash decisions and remains calm, cool and collected when dealing with an aggressive seller, he or she can boost the likelihood of making the best-possible choices throughout the property buying journey.
2. Focused on Your Desired Results
The ultimate goal of the homebuying journey is to find and buy a house that you can enjoy for years to come. In some instances, an aggressive seller may make it difficult for you to accomplish your goal. But if you prioritize the end results of the homebuying journey, you may be better equipped than others to secure a terrific residence.
If you focus on the big picture, you may be able to reduce the risk that minor issues with an aggressive home seller could slow down the property buying journey. And if you do whatever it takes to achieve your desired homebuying results, you may be able to find unique solutions to various problems.
Don't forget to maintain open communication with a seller. If you open the lines of communication with a seller, both you and a seller can work together to ensure all parties are satisfied with the results of a home sale.
3. Hire a Real Estate Agent
If you're uncertain about how to deal with an aggressive seller, you may want to hire a real estate agent. That way, you'll have an expert negotiator at your disposal.
A real estate agent is happy to negotiate with a home seller and his or her agent on your behalf. By doing so, a real estate agent will minimize the risk of potential property buying delays.
Let's not forget about the frequent updates that a real estate agent provides during a negotiation with a property seller, either. A real estate agent will keep you informed about seller negotiations and ensure you can move along the homebuying cycle. And if you ever have concerns or questions during the homebuying journey, a real estate agent is ready to respond to them at your convenience.
Manage the homebuying journey like never before – use the aforementioned tips, and you can avoid the headaches commonly associated with dealing with an aggressive property seller.
A home inspection report may prove to be a difference-maker for a property buyer, and for good reason. With an inspection report in hand, a property buyer will need to decide whether to proceed with a home purchase or rescind a homebuying proposal. Therefore, a property buyer must allocate time and resources to review a home inspection report so he or she can make an informed homebuying decision.
Ultimately, there are many reasons why a homebuyer should trust the final results of a property inspection report, and these reasons include:
1. A home inspection is conducted by a property expert.
A home inspection is conducted by a property expert who will perform a deep evaluation of a house. As such, a home inspector will provide a homebuyer with a comprehensive report that details his or her findings.
For homebuyers, it often is beneficial to search for a top-rated home inspector. This inspector likely will provide an in-depth report that outlines a house's strengths and weaknesses. A homebuyer then can use this report to make an informed decision about how to proceed with a house.
2. A home inspection is used to assess all aspects of a house.
A home inspection generally takes several hours to complete. During this evaluation, a home inspector will look at a home's foundation, heating and cooling systems and other aspects of a house. By doing so, a home inspector will be able to identify any underlying issues with a residence.
It usually is beneficial to ask questions during a home inspection as well. If you strive to learn from a home inspector, you can boost the likelihood of making the best-possible decision about whether a house is right for you.
3. A home inspection offers insights that property buyers may struggle to obtain elsewhere.
Although a homebuyer may visit a house more than once before submitting an offer to purchase, a home inspection represents a learning opportunity unlike any other. A house inspection enables a homebuyer to examine a residence both inside and out with a property expert. Then, this buyer will receive an extensive inspection report that he or she can review prior to finalizing a house purchase.
If you're preparing to search for a home, you may want to hire a real estate agent. This housing market professional will be able to guide you along the homebuying journey. And once you reach the point where you need to conduct a house inspection, a real estate agent will help you find a top home inspector in your city or town.
Of course, a real estate agent will respond to your homebuying concerns and questions too. As a result, a real estate agent will help you take the guesswork out of buying a house.
Ready to find and purchase a home? Before you finalize a house purchase, perform a home inspection – you'll be glad you did. Because if you review a home inspection report, you can determine the best course of action relative to a home purchase.
Home showing preparation is key for any homebuyer. In fact, if you know how to get ready for a home showing, you may be better equipped than other buyers to assess a house and determine whether to move forward with an offer to purchase.
Ultimately, there are many ways that a homebuyer can prepare to attend a home showing, and these include:
1. Create a List of Questions
A home listing provides plenty of information, but it also may leave many unanswered questions about a house. Fortunately, if you craft a list of questions about a home prior to a showing, you can gain comprehensive home insights during this showing.
There is no such thing as a "bad" question to ask about a house during a showing. Remember, a home purchase is one of the biggest transactions that you may complete in your lifetime. And if you prepare a list of questions before a showing, you can take an informed approach to this showing and gain the insights you need to determine whether a house is right for you.
2. Perform Plenty of Housing Market Research
The housing market constantly fluctuates, and a real estate sector that favors homebuyers one day may favor home sellers the next. Thus, it generally is a good idea to study the housing sector closely to determine whether you're operating in a buyer's or seller's market.
In a buyer's market, there is no shortage of high-quality residences available. And if you attend a home showing in a buyer's market, you may be able to take your time to decide how to proceed with a residence.
Comparatively, in a seller's market, there is an abundance of homebuyers and a limited number of top-notch residences. This means you likely will need to act quickly if you want to acquire a deluxe residence following a showing in a seller's market.
3. Collaborate with a Real Estate Agent
The housing market can be complex for both experienced and first-time homebuyers. Luckily, real estate agents are available who can offer expert guidance at a home showing and ensure you can achieve the best results during your home search.
A real estate agent understands what it takes to acquire a home in any housing market. As such, he or she will help you plan ahead for a home showing and guarantee you can obtain in-depth home insights during this event.
Let's not forget about the assistance that a real estate agent can provide throughout the homebuying journey, either. A real estate agent can help you find houses in your preferred cities and towns and submit offers on residences. Plus, a real estate agent is happy to respond to any of your homebuying concerns and questions.
Take the guesswork out of attending a home showing – consult with a real estate agent today, and you can get the support you need to discover your dream house in no time at all.