Strategies for Home Buyers

Strategies for Home Buyers: "

Strategies for Home Buyers

Negotiate

In a buyer’s market with a glut of homes, you have negotiation power to command a lower price. A huge inventory of unsold homes means more competition to attract buyers with low prices. Sellers are fixing up their houses and everything to get the deal. You can negotiate for everything in a real estate transaction.

Real Estate Is Local

Examine recent sales prices of locally comparable houses. This will give you a clearer idea of what sellers are willing to accept for their homes in the area and can help you in bidding.

Don’t Wait for Prices to Drop

Don’t wait for the housing bottom. You can’t count on the housing market sinking any lower. It may reach bottom, but I might have missed a good deal waiting.

Home Resale Potential

Buy homes with nearby schools, shopping centers, growing medical district, growing university or other vibrant employment center, your home with have great resale value.

Buy at off-peak sales seasons

Spring and summer are the busy season for housing market. Fall and winter are the slow season. You can take advantage of sellers. With fewer buyers, sellers may be more motivated to take your low offer.

Ask for contingencies

Make your offer contingent on the home appraising at that sum, on passing the buyer’s inspection and on you obtaining financing. Have an option where you can back out without risking your money should things go sour or you fine another home to want instead.

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