Saturday, October 02, 2021
PART 1 of 4: 1. Know Your Budget 2. Be Prepared to Move Fast - "In today’s sellers’ market, standing out as a buyer is critical.
https://JGraff.AdvisorsMortgage.com 732.500.6883
Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high buyer demand. If you’re buying this fall, you’ll want every advantage, especially when you’ve found the home of your dreams.
Below are "five"* things to keep in mind when it’s time to make an offer. (*TWO things! please see the next three videos in this series...Parts 2-4...for the other three things to keep in mind...Thanks)
1. Know Your Budget
Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it:
“This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.”
Showing sellers you’re serious can give you a competitive edge. It enables you to act quickly when you’ve found your perfect home.
2. Be Prepared To Move Fast
Speed and the pace of sales are contributing factors to today’s competitive housing market. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the average home is on the market for just 17 days. As the report notes:
“Eighty-nine percent of homes sold in July 2021 were on the market for less than a month.”
When homes are selling fast, staying on top of the market and moving quickly are key. After you’ve worked with your agent to find the home that suits"
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