Mark Slade - FirstTimeBuyer

• Think like a Seller. Change your perspective. Take a different look at this situation. Imagine you must sell this house in two, five or ten years. Will it be possible, or does it lack some basic features that the housing market considers essential? • DoNot Expect the Price to Lower After Inspections. Bid lower than you can pay, and make your final offer with the most comfortable price you can afford. Repairs after the inspections will, most likely, not cost the seller millions. • Sign Cautiously. Make sure you acknowledge all terms and realize all liabilities before you sign any documents. Once you sign the contract there is no way tomake amendments without renegotiating and signing a new one. WHAT IF THERE ARE MULTIPLE OFFERS? In a seller’s market, you will probably have competition for the house you wish to buy. Sellers might be considering several offers at the same time. They will make their decision based on the best offer. They may also choose to work with one potential buyer and only send counter- offers to them. You as a buyer will not know. The best way to protect yourself from multiple offers is to make your offer better than the others. Receiving a pre-approval for the mortgage will be a good start to becoming the seller’s choice. Also, let the seller know the financial options that you have. Some mortgage conditions and funding programs are more attractive andmay influence the seller’s decision. Bid close to listing price.There is not much sense in offering significantly less in a seller’s market. Doing this will save you time and curtail an extended counter-offering process. It would be helpful to review your contingencies list. The fewer clauses you have there, the more attractive your offer seems to the seller. However, it is recommended not to remove home inspection. This would mean the seller would not be liable for any uncovered issues with the house, and you would have to pay for the repairs on your own.


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