Buyer
Deals-with a Charlotte Home Seller
The #1 reason folks lose out on their dream home is because they
hesitate. You loved it at first sight- then you chewed on it.
All of it; pros and cons.
Doubt sets in.
Is it really worth it?
Why hasn't someone else put an offer on it yet?
Am I missing something? How come it is just sitting there? IF it's good,
it's gone, right?
That's right.
As soon as it's gone, you will learn not to second guess what you love!
Are you guessing the home seller is
in a situation that makes any offer received imminent and acceptable?
Be REAL. Are you in it to buy a house or get a deal? It is possible to
do both. This should be your objective.
When developing an offer, pay attention to the comparable 'sold' prices
and the speed in which those houses went under contract....how many days
on market?
If they are consistently at one level and you feel the need to chop it
by 50%... will your offer be taken seriously?
No. And if it is...beware!
Make a
realistic offer with your stats in hand and negotiate within your price
point.
Once this becomes your house, it turns itself into your home with all its
tax advantages and the security and pride of home ownership. You
don't buy the home for a deal-you buy it
to become your home.
Charlotte Home Deals-Bank Owned
If you have lost out an offer or maybe two, this part is for you!
You want a
steal, a deal, or just a good value? Bank owned properties, such as
foreclosures, REO's and even short sales have a different approach when
it comes to negotiations.
Know the competition. Other buyers
are wanting to make a big play, too. If it's a great house, there will
be multiple offers made on it. These always drive the homes sale price
up.
In order to meet and successfully conclude a Charlotte bank owned home
purchase...be ready to act.
For those homes priced right and with all the 'right' attributes, it works a lot like this:
If there is only one offer, chances are the bank or the seller will submit a
counteroffer, but if you, the homebuyer, don't stick with your gut feeling-that this is the house for you-
and respond with a realistic counter offer quickly, the bank/seller will most likely wait for a few more offers to come in.
When this happens, for you, the homebuyer that found the good deal (but still wanted better), it's too late.
The seller has started a blind bidding war. The price goes up, and you either win the bid or lose the house.
AAs stated, this is a blind bidding war, and no one knows what's on the
table, until it's too late. Just the bank.
Now your choices are walk away, bid aggressively and possibly win the
house, or up your bid a little and lose the house anyway.
Be smart and realistic from the onset and move it off of the market by
placing a fair bid, easy closing conditions and proof of financial
ability.
|
Tips on Buying your Home
A couple of real estate buying tips:
When you think of buying...start smart:
Find a Mortgage Lender
Hire a Realtor as your
Buyer's Agent (free)
From your mortgage lender, you will need a PRE-AUTHORIZATION
letter...not a "pre
qualification" letter from your lender to be a serious contender in this
housing market.
Times have changed and so has the lending.
With over 600 underwriting changes taking place between 2008 and 2010,
old rules are gone and new are in.
Whether this is your first home or your last home, most rules have
changed and they have an effect on all loans...cash deals, you're good
to go! Still, a letter from your financial/or banker will be requested
as proof for the seller.
A pre-authorization letter is the ticket for most buyers. Consider
it to be like a credit limit stating how much
you can borrow. In the past, pre-qualification letters would get the job
done. Now, a "pre-qualification letter " is virtually useless.
A pre-qualification letter is similar to the marital engagement without the ring and a date. You look
good, but it's just not a real commitment.
Well, you have completed all of the above. Now what?
Actually, Buying Your Dream Home
It is very difficult to replace the house you lost-as all real
estate is considered unique. And it is!
Real estate is unique in its location: location within the city;
location within the community; location within the complex. Then
consider the rest of the story: it is unique in upgrades, pricing, and
layout.
Home prices here are near or at the bottom.
Additionally bargains are increasingly available.
You'll make your ride smoother, and when you find that incredible home
you have been looking for, you'll be ready to go!
AS a side note: Unless this is purely an investment property, most
houses are bought with a bit of emotion (like-love-feels good) attached.
It takes us 3 minutes to sell you a home-the home sells
itself....finding it is another thing!
So, if you love it, if you can afford it, if the comps make sense, go after
it with speed and sincerity.
It's a move in the right direction.
|
