Options to consider when buying a property today.

Blog Post Image
Real Estate

Options to consider when buying a property today.

With housing inventory at record lows, sellers have plenty of offers from which the pick from.
Some of the best practices I have adapted in my experience in winning multiple bids scenarios are as follows:

• Prequalify with a local lender who is willing to call the listing agent on behalf of the buyer.
• Don’t play games with the seller. Put in the solid offer so you can get to the closing table. Otherwise you as the buyer will keep looking without success in today’s market.
• Copy the lender when emailing your offer to the listing agent. This gives the seller confidence that the buyers offer will close without a hitch on the lending side. A smart Listing Agent will hopefully coach his/her seller that they may not get as much as they wanted but the likelihood to close is extremely strong with our offer.
• Be willing to waive contingencies. If submitting an offer at list price or higher for instance, a buyer might be willing to waive the need for an appraisal of the home. Be aware though that many lenders might not be so willing to accept this term.
• Always add a time limit. The seller may accept your strong offer with a deadline rather than shopping your offer to other buyers. After the deadline, if the seller hasn’t signed and returned the offer, the original offer will be withdrawn.

Looking ahead, the Tampa Bay area continues to be an attractive market for buyers and sellers. I don’t see any signs of demand slowing down. That means buyers and sellers will be facing more multiple offer scenarios and their agents need to know how to navigate them so they can attain their goals.

I clearly have this expertise so if you are in need of a realtor to sell your property or buy a property, please reach out at 813-245–1157 or email me at bob.hodge@mail.com.