The other important piece to note is that many homeowners who are downsizing have been “out of the loop” since they last searched for a home, so having a buyer’s agent work with you is truly an invaluable resource that you don’t want to take lightly. Finally, don’t hire the first agent that you happen to notice or that someone recommends or that contacts you to entice you to downsize. You need to do your due diligence and research. Ask for some help from friends or family members.
Step #8: Make an Offer
Once you’ve found “the one” — that home that meets your needs as you transition from your current home into one that better suits your situation as you head into retirement and your senior years, and one that meets your other criteria (like a quiet neighborhood close to amenities suited to people your age), and that fits within your price range — it’s time to make an offer! This step can be both exciting and stressful. Again, hiring an agent will save you a lot of the potential stress. If you choose to work without an agent, you put yourself at risk of making expensive mistakes, or even screwing up the entire deal. Making an offer might look considerably different from what it did decades ago. Real estate laws and requirements change over time, and can vary from state to state. Keep yourself up-to-date with all new home-buying and housing market information applicable to your area. Your agent can be a great help in this area, especially if you’re overwhelmed and don’t quite know where to start. Essentially, “making an offer” means proposing a price to buy the property, and depending on the seller, the listing agent, your own agent, and the current housing market, that proposal could be equal to, less than, or more than the asking price.
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