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In It To Win It 7 Mistakes On Your Offer That Could Cost You
Dated: January 30 2019
In It to Win It:
Land Your Texoma Dream Home by Avoiding These 7 Mistakes on Your Offer
We have been out and about and seen just about every Texoma house on the market… There it is you found the house you want to call home and can hardly wait to move in and make it your own. Yahoo!!!
Hold up there just a moment. There is still a few more steps to take. You must make an offer that is accepted by the seller. It is a highly competitive market and getting your offer accepted is sometimes easier said than done. Be careful there are several mistakes Texoma buyers can make and blow their chance.
Your dream home is waiting. Avoid these common mistakes.
1. Dragging your feet:
When you have found the house you really want to make a home the worst thing you can do is say I will wait to make an offer. There are those feelings of unease that is normal. After all this is a big move and a long term commitment. But the longer you wait the greater your chance of setting yourself up for failure. Which is someone else getting the house of your dreams.
The emotional roller coaster is normal during the buying process. Getting yourself ready and understanding that those feelings are normal is the first step to being sure you are ready to make an offer.
2. Offering your max pre-approved amount:
In today’s market often there are more than one offer on the table. Those buyers that are prepared when they submit and offer are more likely to win in the bidding war. One of the best ways to arm yourself for the multiple offer situation is to show you are financially ready and have the pre-approval letter ( if you have not done this do it now) Sellers will look at your offer with a stronger stance.
Beware of offering the exact amount that you are pre-approved for. The objective is to show financial strength and give the seller the feeling that your offer is the one to choose. Be prepared and show this fact. It does make a difference.
3. Using obscurer Lender:
What does this really mean?? Using an obscure lender. Using a lender than no one has heard of, is not local, one you found on the internet. Choosing a local lender is huge to a seller. A lender with a good track record, this just might be the reason the seller chooses your offer over another one. Showing financial strength is huge it really is huge.
4. Low balling:
Oh my goodness this is not a good ideal. If you low ball the seller with the thoughts and hope that your offer will be the one chosen or set up yourself for a better negotiation process is most likely not going to happen. You might just hear crickets or no response. Getting your offer set up with a realistic price point is a much better way to go.
5. Waiving the inspection contingency:
The inspection is always suggested. During this time frame you will find out what repairs are needed and if the repairs that are found are ones you can and are willing to take on. The inspection is really worth the cost that you will incur.
6. Letting outsiders sway your offer:
During the home buying process, you most likely will want a second opinion. And maybe a third, fourth, possibly even 10th. It is totally normal. But be cautious of letting these people—who mean well but have not seen the other homes you have seen—influence your offer.
If you're going to rely on outside advice, it is a good ideal to ask that the person accompany you through as much of the process as possible.
7. Not selling yourself:
Selling yourself wait really. Yes it does sound a bit odd but it is true. Make yourself look good to the seller. It is not just about looking good on paper. It really starts the moment you step through the door, at your very first showing.
In the highly competitive market, the seller’s agent is looking for the buyer that is easiest to work with and can prove the point that they are a strong buyer and ready to purchase.
In some cases the buyer can write a letter to the seller giving more information about yourself and why you are looking to move into the community.
We are here to help you find the perfect house to make a home. Finding your space for peace and tranquility. After all in most cases our home is the space we seek to create Peace Tranquility Safety, the place we make memories to last a life time. Give us a call today and let’s talk Real Estate.
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