Uncategorized May 29, 2017

5 Offer Mistakes To Avoid When Buying

If you are buying Tam O’ Shanter real estate in this current market, you may feel like you are hitting some road blocks. Low inventory can be a frustrating obstacle for buyers. Whether you are dealing with being outbid or a brand new listing goes pending before you can even see it, be sure to check out these tips if you are not having luck with purchasing a home for sale in Tam O’ Shanter.

Don’t delay

This is not the time to move slowly. If you take your sweet time when trying to buy a home for sale in Tam O’ Shanter, you could lose out on the perfect home for you. Time is of the essence in this market so get everything ready and try to be the first one in the door after a listing hits the market.

Don’t submit a lowball offer

Lowballing can back fire in a big way, regardless of the market. Our current conditions are resulting in over asking bids and multiple offers so this is not the time to play hard to get. Make an offer based on market value, otherwise you could offend the seller and turn them off completely from countering. If you are serious about buying Tam O’ Shanter real estate, be respectful of the sellers and discuss a good offer with your Tam O’ Shanter realtor before submitting.

Don’t make an offer for the pre-approved amount

Speaking of offers, smart buyers know that getting pre-approved is the best way to prove to a seller that you are serious. However, using the document to come up with an offer amount could work against you. In this market, seller’s want to know that they have wiggle room. If your offer is the exact pre-approval amount, they may feel like they have no room for negotiations.

Don’t waive inspection

Yes, waiving as many contingencies as possible is a great way to get your offer on Tam O’ Shanter real estate offer accepted. However, the inspection should not be one of them. You want to make sure the home doesn’t have a bunch of expensive repairs lurking below the surface that could cost you later on. When you waive inspection, you also run the risk of losing your earnest money if you decide to back out of the deal later.  The only time this could be acceptable is if you are a maintenance expert or a contractor and can do the work or repairs for cost. Even then, think long and hard about this one, and as always, consult your Tam O’ Shanter realtor.

Don’t misrepresent yourself

If you are serious about buying Tam O’ Shanter real estate, make sure you look great in the eyes of the seller. This market is competitive, and sellers usually prefer a buyer who is going to be the easiest to do a deal with. So be sure to avoid being too picky, making high maintenance requests, questioning the seller’s décor decisions and overall being hard to deal with.

As always, be sure you have a qualified Tam O’ Shanter realtor working on your side. Having a long time, local expert working on your behalf ensures you not only have the best representation, but also the upper hand in a multi offer situation. For more information on real estate in Tam O’ Shanter, give me a call.