How To Make An Offer

Dated: July 6 2021

Views: 156

How to make offers in a hot market

Today’s LBI real estate market has a higher buyer interest in a low housing inventory. With too many buyers competing for a limited number of homes, it is now more important than ever to know the details of making a competitive offer on a home. We broke down some of the best tips we thought would help put you in the right direction.

Listening to your real estate agent

Buying an LBI home is probably the most significant investment you’ll make in your lifetime. This can be an emotional roller coaster, especially if you’re not up-to-date on current real estate affairs. This is why you need a trusted and established professional who can help you stay focused on the most important things. If you were thinking about offering on a house, we recommend that you talk to a real estate professional, so you are being put in the best position possible for your investment.

Understand your finances

As clients, you need to have a complete understanding of your budget and how much you can afford. The best way to start this process is to reach out to a lender and get pre-approved for a loan early in the home-buying process. Only 44% of today’s potential home buyers plan to apply for pre-approval, so be sure to take this step and stand out from the crowd. This will show a seller that you are serious and a qualified buyer. This can give you a competitive edge if a bidding war is brewing.

Moving quickly

The average property being sold in LBI today is receiving more than three offers and is typically only on the market for a few weeks. Today’s market is competitive and we hope these facts show you how important it is to stay on top of your search and real estate agent. As soon as you find a home that you are seriously interested in, be prepared to work with your agent to submit an offer as quickly as possible. Sellers love a hot buyer, which can put you in a great position to get your dream home quickly. Don’t fiddle around and lose the house you are interested in.

 

 

Flexible negotiator

After you submit an offer, the seller may accept, reject or counter it with their changes. In a competitive market, it’s important to stay agile throughout the negotiation process. Your position can be strengthened with an offer that includes flexible move-in dates, a higher price, or minimal contingencies. These are conditions that you set the seller must meet before the purchase is to be finalized. Be sure to thoroughly look through the house and understand what it needs or does it need. The last thing you want to do is move into a home and then realize you need to remodel the whole inside once you get a good look at it. Resist the temptation to waive the inspection contingency. Without an inspection contingency, you could be stuck with the house you can afford to fix. Overall, today’s competitive market is a great time to make a strong offer on a home. You can be in and out of your old place very quickly if you take the time to find a trusted expert in the real estate field. Take advantage while the market is hot.

 

We hope that this overview of How to Make an Offer on Long Beach Island, NJ has been helpful and look forward to helping you with all your LBI Real Estate Market needs.

Click Here to Get Educated… We look forward to educating you all along the way.

 

Jason & Kristen Ciavarro

Long Beach Island Real Estate Realtors, LBI Living Realtors Jason & Kristen Ciavarro , Van Dyk GroupThe Van Dyk Group, Realtor

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