{"id":10650,"date":"2021-06-22T16:44:51","date_gmt":"2021-06-22T16:44:51","guid":{"rendered":"https:\/\/elizabethjebef.com\/?p=10650"},"modified":"2021-06-22T16:48:35","modified_gmt":"2021-06-22T16:48:35","slug":"5-things-homebuyers-need-to-know-when-making-an-offer","status":"publish","type":"post","link":"https:\/\/elizabethjebef.com\/?p=10650","title":{"rendered":"5 Things Homebuyers Need To Know When Making an Offer"},"content":{"rendered":"\n

With\u00a0inventory<\/a>\u00a0hovering near record lows and sky-high buyer\u00a0demand<\/a>, a multiple-offer scenario is the new normal. Here are five things to keep in mind when you\u2019re ready to make an offer.<\/p>\n\n\n\n

1. Know Your Numbers<\/strong><\/h4>\n\n\n\n

Having a complete understanding of your budget and how much house you can afford<\/a> is essential. That\u2019s why you should connect with a lender to get pre-approved<\/a> for a loan early in the homebuying process. Taking this step shows sellers you\u2019re a serious, qualified buyer and can give you a competitive edge in a bidding war. In many cases, a Pre-Approval letter may be required to view a home. Including your Pre-Approval letter and Proof of Funds is part of my best practices when putting together your offer package.<\/p>\n\n\n\n

2. Brace for a Fast Pace<\/strong><\/h4>\n\n\n\n

Today\u2019s market is dynamic and fast-paced. According to the Realtors Confidence Index<\/a> from the National Association of Realtors <\/em>(NAR), the average home is on the market for just 17 days<\/a> \u2013 that means from start to finish, a house for sale in today\u2019s climate is active for roughly 2.5 weeks. A skilled agent will do everything they can to help you stay on top of every possible opportunity. And, as soon as we find the right home for your needs, I will help you draft and submit your best offer as quickly as possible.<\/p>\n\n\n\n

3. Lean on a Real Estate Professional<\/strong><\/h4>\n\n\n\n

While homebuying may seem like a whirlwind process to you, I do this every day. It is my job to guide you through the process and apply my market insights to help you realize your real estate goals. <\/p>\n\n\n\n

<\/p>\n\n\n\n

4. Make a Strong, but Fair Offer<\/strong><\/h4>\n\n\n\n

It’s true \u2013 we all love a good deal. In the past, offering at or near the asking price<\/a> was enough to make your offer appealing to Sellers. In today\u2019s market, that\u2019s often not the case. According to Lawrence Yun<\/a>, Chief Economist<\/em> at NAR:<\/p>\n\n\n\n

\u201cFor every listing there are 5.1 offers. Half of the homes are being sold above list price.\u201d<\/strong><\/em><\/p><\/blockquote>\n\n\n\n

In a fiercely competitive market, emotions and prices can run high. As your trusted advisor, I will work with you to craft a strong but fair offer based on market value, recent sales, and demand.<\/p>\n\n\n\n

5. Be a Flexible Negotiator<\/strong><\/h4>\n\n\n\n

If you followed tip #3, you drafted the offer with the seller\u2019s needs in mind. That said, the seller may still counter with their own changes. Be prepared to amend your offer to include flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized). Just remember, there are certain contingencies you don\u2019t want to forego. Freddie Mac<\/em><\/a>explains:<\/p>\n\n\n\n

\u201cResist the temptation to waive the inspection contingency<\/em><\/strong>, especially in a hot market or if the home is being sold \u2018as-is\u2019, which means the seller won\u2019t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can\u2019t afford to fix.\u201d<\/em><\/p><\/blockquote>\n\n\n\n

If you are ready to build or expand your real estate portfolio, reach out. I welcome the opportunity to support you through the process and put my resources to work for you. <\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

22 June 2021 ~ With inventory hovering near record lows and sky-high buyer demand, a multi-offer scenario is the new normal. Here are five things to keep in mind when you\u2019re ready to make an offer.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[220],"tags":[236,232,237],"class_list":["post-10650","post","type-post","status-publish","format-standard","hentry","category-homeowners","tag-home-buyers","tag-housing-market","tag-making-an-offer"],"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"elizabethjebef","author_link":"https:\/\/elizabethjebef.com\/?author=2"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/posts\/10650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10650"}],"version-history":[{"count":0,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/posts\/10650\/revisions"}],"wp:attachment":[{"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}