3 Home Buying Tips to Follow

If you have decided to search through new homes for sale, then you want to do all you can to get the house that is the right one for you and your family. Just because you really like a home doesn't mean that you are going to be able to get it. You'll need to put in an offer and the offer that you put in will have to be accepted by the seller. Houses used to be a bit easier to get because there wasn't as much competition with sellers, investors, flippers and the like. If you want to ensure that you end up in the home you feel is right for you then consider the following:

Shop for homes that are within your budget

Long gone are the days of sending off a lowball offer and getting it easily accepted. This means looking at a house that's tens of thousands of dollars more than what you have to spend is nothing more than a waste of your time. These days, houses are selling for much closer to their asking price. You used to especially be able to throw out a lowball offer on a house that had been on the market for a long time and almost be able to count on them taking it.

These days, houses can sit on the market for a long time and the sellers still won't budge very far from that asking price.  Now, if you want to make an offer on a place that has been on the market for a while you should make them an offer on it that is only slightly under the asking price. If the house is a fairly new listing then you should make your first offer be for the full asking price.

There are a few things you can do to win a bidding war

If you find that you're caught up in a bidding war you will of course want to do all you can to win that house without spending more money than is necessary. There is a very good strategy that you can use in order to do just this. You want to come in with a higher price while asking for fewer contingencies.

Also, point out that you can be flexible with regards to when you move in. The easier you make things with regards to your demands, the better the chances that you can get that house without paying a lot more than you wanted. By showing just how much you are willing to work with them, you just may get that house.

Write a letter explaining why you are making a lower offer than the asking price

Another fantastic strategy is to write the seller a letter letting them know why you are offering them a lower price than what they are asking for. Let's say you fell in love with a house that's 10,000 higher than what you can afford to pay. If you simply offer the seller this then there is a very good chance they will turn it down.

However, writing them a heartfelt letter explaining that you know the house is worth what they are asking, but you simply can't afford it. Let them know how much you love the house and how it is the perfect place for you and your family. Many times, a heartfelt letter acknowledging the home's worth and explaining why you aren't offering it can be just the thing that gets your offer accepted!

About Me

Real Estate Crash Course: The Fundamentals

After inheriting my house from a deceased loved one, I had no idea what it was like to go through the home sales and purchase process. When a medical emergency necessitated selling and moving somewhere else, I was in over my head. Luckily, I worked with a great real estate agent who helped me understand the entire process, from listing to inspection and closing. I created this site to share my experiences and knowledge. Whether you're buying or selling a family home like I did, I hope that it helps you as you venture into your first real estate transaction.


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