The 2020 Real Estate Market has high Buyer Interest and Low Housing Inventory. With numerous buyers competing for a limited number of homes, it’s more important than ever to know the ins and outs of making a solid, competitive offer.

Here are five keys to success for this important stage in the home buying process. 

  1. Listen to Your Real Estate Agent- Let Locke Associates, Inc. (Your Homebuying Team) guide you on your journey. Our support and expertise will keep you from compromising your must-haves and future financial stability. We can help answer any questions you have when you are ready to make an offer on a property.
  2. Understand Your Finances- Having a complete understanding of your budget and how much house you can afford is essential. The best way to know this is to reach out to your lender to get pre-approved for a loan early in the home buying process. (If you need a referral to a Lender we’d be happy to assist) By doing this step, you can stand out from the crowd and be better prepared to make a move. It shows sellers you’re a serious, qualified buyer and will allow you to have a competitive edge if you enter a bidding war.
  3. Be Ready to Move Quickly- The average property in today’s market is receiving more than three offers and is only on the market for a few weeks, sometimes days if it’s a cash sale. As soon as you find that house that fits the bill, work diligently with one of our agents to submit an offer as quickly as possible.
  4. Make Your Highest and Best Offer- You don’t want to submit an offer that’s too low. It’s only natural to want to get the best deal you can on a home, but submitting an offer that’s too low can lead sellers to doubt how serious you are as a buyer.
  5. Be Flexible- After you submit your offer, the seller may accept it, reject it or counter. In a competitive market like today’s, its important to stay nimble throughout the negotiation process. Your position can be strengthened with an offer than includes flexible closing dates, a higher price and/or minimal contingencies.

The bottom line is today’s competitive market makes it more important than ever to come in with a strong offer on a property and working with one of our trusted advisors here at Locke Associates, Inc. can help you rise to the top along the way

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