With inventories of homes dropping and historically low interest rates, it can be tough to be a buyer in the Stephenville real estate market. If you’re looking to purchase a new home, keep these tips in mind. Here are four ways you can stand out as a buyer in the marketplace!
1. Know the Inventory: If you’re hoping to be successful, it pays to know the inventory. Become familiar with the going rate in your area so you can determine if a listing is priced at, above or below market value. Some sellers will deliberately price their home low to generate multiple offers.
2. Best Foot Forward: Be realistic in your offer and make sure it makes sense for your family and lifestyle. It’s important that you’re confident in what you’re offering, especially if it’s over the list price. Make sure this purchase aligns with your long-term housing goals. Also, before you pen an offer, ask the selling agent how many offers they’re anticipating so you know where you stand in the scheme of things. It’s hard to compete with an all-cash offer, but a pre-approval letter will take you far in the home buying process.
3. Make a Clean Offer: Don’t bog down your offer with tons of contingencies, like you will only buy the house if your home sells. In a competitive real estate landscape, you will be passed over quickly in favor of someone who is ready to commit.
4. Know the Situation: Try to find out as much as you can about the seller’s situation before you make an offer. You may uncover something that allows you to look like a hero, like offering the seller 30 days of rent back at no cost if you’re not in a hurry to move-in.
There are so many reasons to consider becoming a Stephenville home owner. We are a local team of real estate experts who would love to help you find the home of your dreams! Please contact us if we can show you around.