Love It Put An Offer On It SELLERS MARKET

Dated: 06/04/2016

Views: 400

A seller's market means that buyers have to be smart and prepared if they want to get the right house at the right price. Agents suggest that prospective buyers start by looking online at homes, narrowing down neighborhood choices and deciding between must-have and preferred features.

At the same time, buyers should visit a mortgage professional and get their financing in order. It’s best to start that process before you start looking at homes, in case your credit needs repair or you need to pay off debts to qualify for a mortgage. In a competitive market, agents may not even show homes to buyers who don’t have a mortgage pre-approval.

A desirable listing may be sold in days or hours, meaning there is no time to organize financing or mull over preferred features before making an offer.

Any market here in Florida  is very fast-paced right now, If you do see the property that you want and love, you’re going to have to act on it.

It’s also important to know how much house you can afford before you get started. Looking at more expensive houses and then scaling down several thousand dollars often leads to disappointment. 

Be ready to move fast. A well-located house in good condition and priced right will sell quickly, sometimes the first day it goes on the market. You need to be ready to make a decision when you find a home you like. You have to be prepared to act fast because we’re seeing bidding wars, OFFERING  more than asking price,the property is going to be gone.

Don’t expect to get a smoking deal. The days of getting a house at a discount are long gone. That doesn’t mean you can’t ever get a substantial discount on a house that needs work, is in a less popular location or otherwise is in less demand. But in a seller's market, there is usually very little negotiating room on price.

Don’t buy more than you can afford. Lenders will often approve a buyer for a higher payment than he or she can make comfortably. When you’re calculating what you can afford to pay, remember that a mortgage payment is only part of the cost of homeownership. “Buyers should make sure they’re taking into account all the secondary costs, including insurance, taxes, lawn maintenance, condo or homeowners association fees, repairs and even furniture.

CAll Charity Munoz , I've got your back! 516-848-2082

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