How To WIN In This Real Estate Market
Posted by NMWelcomeHome Team Associates (505) 886-1432 on Friday, May 24th, 2019 at 11:53am
Agent: This is a hot property, there are multiple offers on it.
Buyer: Multiple offers! I don't want to get involved in that, let's go find another home.
Agent: I understand however this home meets 8 out of your 10 features that you want in a home. It's worth trying...
This conversation has been had many times over in the past 6 months and with good reason. Inventory is down and there are many buyers looking to buy a home. So how do you win in this real estate market? There are a few options and I will list them below.
First If you see a home you like, call your agent immediately and schedule a showing! And if you love it you should make your offer as strong as possible. This means weighing all the options, working with your agent to review value aka comps, and how many 'must haves' does the home offer that are on your list.
Second remove as many contingencies as possible. We do not recommend removing an inspection contingency but you may pay for additional fees such as appraisal, home warranty, title fees or inspections. This goes a long way with sellers when they are comparing your offer to another. The cost is relatively low to you but significant to the seller who pays majority of the fees.
Third inventory is going up and now is a great time to get your home search started!
Fourth talk to your local lender about your pre-approval amount. You will be surprised that your payment may not increase very much for the home of your dreams.
Fifth you can work with one of your experienced agents who have a track record of helping their clients Win in this market. Call us at (505) 886-1432
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.
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