Posts from February 2021

In this market many buyers are finding the home they want, only to discover there are already two, three, or sometimes more offers on the table.  So, what can you do?  You love the home, and you want to make an offer that will win?  What can you do to make your offer stand out?

PUT YOUR BEST OFFER ON THE TABLE

This may seem simple.  However, many buyers will make a lower offer than they are willing to pay in hopes of receiving a counter-offer from the seller. This is done with the intention of "meeting in the middle" on the final agreed upon price. When there are multiple offers on the table this will not work.  In this case, most sellers will not counter anyone they will take the best initial offer on the table.  You cannot anticipate a counter-offer.

USE A CONVENTIONAL LOAN

 If you are pre-qualified with a govern...

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I have met many first time home buyers who are prepared to make a down payment, and are ready for some of the closing cost.  They have a plan in place to have the money they need by the day of closing.  However, they simply from lack of experience, by no fault of their own are unaware they will need to have some money available within a few days of having their offer on a home accepted.  They money you will need as a buyer is the Earnest Money Deposit, sometimes called an Escrow Check, or Good Faith Deposit.

SO WHAT IS THE EARNEST MONEY DEPOSIT?

The earnest money deposit is an amount of money you, as the buyer, are prepared to place in a non-interest bearing account, that is typically held by the office of the property's listing agent.  It is seen as a good faith deposit to back the offer on the home you are seeking to purchase.  When your offer is accepted you have (5) five cale...

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If you are reading this, you might be someone who was thinking of buying a home in the new year.  You began to browse listings, maybe even found a few that you liked.  Perhaps, you took the step of calling the agent, only to discover that after only one or two days on the market the home had multiple offers, and was already under contract.

You continue to browse, and you see this phenomen happen time and time again.  "Well, I guess I'll just wait for another time," you say to yourself.

It is definetly a reality of the current housing market that things are moving fast, and if you hesitate, even for a day, someone else will jump in ahead of you.

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