Buyers: Improve Your Chances
Improve Your Chances
The national news media has led home buyers across the nation to believe that now is the time for low offers and tough negotiations. Following that mistaken advice has caused many disappointed Alexandria and Old Town Alexandria home seekers to lose out on the home of their dreams.
Since you do want to own the house that says "home" to you, follow this advice instead:
First, get pre-approved for the purchase before you begin to shop. Today's sellers want to be sure that a buyer can actually close on the purchase, so refuse to even consider an offer unless it is accompanied by a pre-approval letter. For most favorable results, the letter should be from an Alexandria area lender with a solid reputation.
Be prepared to preview a new property quickly. Inventory is low in Alexandria and Old Town Alexandria, and well-priced homes with desirable features and locations sometimes sell within days.
Assume that your offer will be competing with offers from other buyers, even if a home has been on the market for some time. New buyers are entering the market and viewing homes every day, and one or more of them might be just as taken with the house as you are. Thus, when you find the home you want, you should act quickly and submit a strong, competitive offer.
Include an earnest money deposit equal to 1-3% of the purchase price. A substantial deposit tells sellers that you have a strong commitment to purchasing their home, and it could sway the decision in your favor if you are competing against a similar offer.
Minimize or eliminate contingencies; the fewer contingencies, the stronger the offer.
When submitting an offer to long-time homeowners who want their beloved Alexandria home to go to someone who will appreciate it, add a personal touch. Along with your strong offer, submit a letter to the sellers telling them how much you like their home and why it appeals to you. This letter can make the difference if you're competing against a similar offer.
Once you've submitted an offer, make yourself available for instant communication with your agent. Be prepared to make decisions quickly and change the terms instantly if need be.
If you're searching for a home in Alexandria or Old Town Alexandria, get in touch. I'll be pleased to guide you to homes that fit your wants and needs and help you navigate around all the pitfalls and land mines associated with purchasing a home.
Thanks for visiting me at www.susanmovesyou.com. I hope we'll soon meet in person.
