In today’s market place, re-sale properties are in low supply and high demand. We call this a seller’s market. We often see multiple offers, and over bidding on home offers. This makes shopping for a home very competitive.
When you are considering making an offer. Know that your financing can help you gain an advantage.
Many sellers are offering little or no closing cost, and are not making repairs on properties. This should not be a deterrent for you getting the house you desire.
Using a renovation loan product on a foreclosure or re-sale property
The renovation loan products allow you to make the necessary and desired improvements to a property after you take ownership in one loan. It is a great solution to purchasing resale properties and avoiding repair request denials.
Taking a contractor with you shopping for houses
Getting a home inspection is a customary and recommended thing. However, all it tells you is what is wrong. What you really need to know is how much it cost to fix what is wrong. A contractor can tell you this. If you can schedule one to go with you shopping, you should do this.
Staying focused on your desired location
There are so many choices and options when considering where to purchase a home. The only thing about a home that you can’t readily change is its location. I don’t sell houses, but I do see a lot of indecisive buyers out there. I always tell them to stick to their favorite location, and keep as many options open as possible.
Working with a team that is excellent at explaining the process and negotiating on your behalf.
It is imperative that you work with a realtor who has a team of professionals that are all working on your behalf. You don’t have to use their recommendations, but if they are excellent at what they do, they will have a team of professionals designed to assist you with exactly what you need so that you home buying processes can be simple and seamless. This team includes lenders, contractors, inspectors, stagers, designers, and local area specialist as well.
Foreclosed properties still present some of the best opportunities in the market place. As a consumer you need to know how to make the negotiations work in your favor without involving the seller. Following these suggested tips will ensure that you’ll find the perfect house that can be tailor made into perfection for you.
If you need information about investing, or purchasing a property, we would love to help.
Contact us at 888-362-1706 or online at www.mwrealtors.net