{"id":1300,"date":"2020-11-30T14:33:50","date_gmt":"2020-11-30T14:33:50","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=1300"},"modified":"2020-11-30T14:33:50","modified_gmt":"2020-11-30T14:33:50","slug":"5-tips-homebuyers-want-make-competitive-offer","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/5-tips-homebuyers-want-make-competitive-offer\/","title":{"rendered":"5 Tips for Homebuyers Who Want to Make a Competitive Offer"},"content":{"rendered":"
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5 Tips for Homebuyers Who Want to Make a Competitive Offer<\/p><\/div>\n

Today\u2019s real estate market has high\u00a0buyer interest<\/a>\u00a0and low housing\u00a0inventory<\/a>. With so many buyers competing for a limited number of homes, it\u2019s more important than ever to know the ins and outs of making a confident and competitive offer. Here are five keys to success for this important stage in the homebuying process.<\/p>\n

1. Listen to Your Real Estate Agent<\/strong><\/h4>\n

A recent\u00a0article<\/a>\u00a0from\u00a0Freddie Mac<\/em>\u00a0offers guidance on making an offer on a home in today\u2019s market. Right off the bat, it points out how emotional this can be for buyers and why trusted professionals can help you stay focused on the most important things:<\/p>\n

\u201cRemember to let your homebuying team guide you on your journey, not your emotions. Their support and expertise will keep you from compromising on your must-haves and future financial stability.\u201d<\/em><\/p><\/blockquote>\n

Your real estate professional should be your primary source for answers to the questions you have when you\u2019re ready to make an offer.<\/p>\n

2. Understand Your Finances<\/strong><\/h4>\n

Having a complete understanding of your budget and how much house you can afford is essential. The best way to know this is to reach out to your lender to get pre-approved for a loan early in the homebuying process. Only 44% of today\u2019s prospective homebuyers are planning to apply for pre-approval, so be sure to take this step so you stand out from the crowd. It shows sellers you\u2019re a serious, qualified buyer and can give you a competitive edge if you enter a\u00a0bidding war<\/a>.<\/p>\n

3. Be Ready to Move Quickly<\/strong><\/h4>\n

According to the\u00a0Realtors Confidence Index<\/em><\/a>, published monthly by the\u00a0National Association of Realtors<\/em>\u00a0(NAR), the average property being sold today is receiving more than three offers and is only on the market for a few weeks. These are both results of today\u2019s competitive market, showing how important it is to stay agile and vigilant in your search. As soon as you find the right home for your needs, be prepared to work with your agent to submit an offer as quickly as possible.<\/p>\n

4. Make a Fair Offer<\/strong><\/h4>\n

It\u2019s only natural to want the best deal you can get on a home. However,\u00a0Freddie Mac<\/em>\u00a0also warns that submitting an offer that\u2019s too low can lead sellers to doubt how serious you are as a buyer. Don\u2019t submit an offer that will be tossed out as soon as it\u2019s received. The expertise your agent brings to this part of the process will help you stay competitive:<\/p>\n

\u201cYour agent will work with you to make an informed offer based on the market value of the home, the condition of the home and recent home sale prices in the area.\u201d<\/em><\/p><\/blockquote>\n

5. Be a Flexible Negotiator<\/strong><\/h4>\n

After submitting an offer, the seller may accept it, reject it, or counter it with their own changes. In a competitive market, it\u2019s important to stay nimble throughout the negotiation process. Your position can be strengthened with an offer that includes flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized). There are, however, certain contingencies you don\u2019t want to forego.\u00a0Freddie Mac\u00a0<\/em>explains:<\/p>\n

\u201cResist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold \u2018as-is\u2019, which means the seller won\u2019t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can\u2019t afford to fix.\u201d<\/em><\/p><\/blockquote>\n

Bottom Line<\/strong><\/h3>\n

Today\u2019s competitive market makes it more important than ever to make a strong offer on a home, and a trusted expert can help you rise to the top along the way.<\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
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THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE OF ADVICE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

Here are five keys to success for this important stage in the homebuying process. Finish Reading 5 Tips for Homebuyers Who Want to Make a Competitive Offer<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[15,241,18,267,27,91,86,52,9,252,290,20,12,24,48,68,13,47,19,6,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1300"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=1300"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1300\/revisions"}],"predecessor-version":[{"id":1302,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1300\/revisions\/1302"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=1300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=1300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=1300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}