Carlo Coats' Real Estate BlogYou've likely seen headlines about the number of foreclosures climbing in today's housing market. That may leave you with a few questions, especially if you're thinking
How To Make The Best Offer On A Home
Dated: April 6 2023
Are you planning to buy a home in Phoenix this spring? Though things are more balanced than they were at the height of the pandemic, due to the low inventory of homes for sale, it's still a seller's market. So when you find the home you want to buy, remember these four tips to make your best offer.
1. Lean On A Real Estate Professional
Rely on an agent who can support your goals. They will be a critical part of your home-buying process.
Agents are local market experts. They know what's worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller needs can help your offer stand out.
2. Know Your Budget
Understanding your budget is especially important right now. You need to be aware of what your expenses are, how your spending is, and what changes you would need to make.
The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. It helps you be more financially confident, and it shows sellers you're serious. This can give you a competitive edge.
3. Think Through Everything Before Making An Offer
Today's market isn't moving at the record pace it did during the pandemic. That means you may have a bit more time to think before you make an offer, although that's certainly not a guarantee. If you're on the fence about a home or its asking price doesn't quite fit your budget, you might want to keep an eye on it, and if it doesn't sell right away, you may have some room to negotiate with the seller.
While it's still important to stay on top of the market and be prepared to move quickly, there can be more flexibility today. Lean on the advice of your agent as you explore the options in your market.
4. Work With Your Advisor To Negotiate
During the pandemic, some buyers skipped home inspections or didn't ask for concessions from the seller in order to submit the winning bid on a home. Fortunately, today's market is different, and you may have more negotiating power than before. When putting together an offer, your trusted real estate advisor will help you think through what levers to pull.
When you buy a home this spring, work with a trusted real estate advisor to help you make your best offer.
Hi! I'm Carlo.I'm here to help you throughout your entire home-buying and selling process. Trying to do it all on your own can be burdensome. I'll find you homes within your price range, help you find....
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