The holidays are a very busy time of year for most people, but before you know it, decorations will be put away and 2018 will be in full swing. If you’re planning to be a buyer in the new year, it’s helpful to start reading now on how to make an attractive offer to a seller in a competitive real estate market. Here are some tips that can help you make the best offer.
Tip #1: Know what you can afford.
How much do you owe in debt? What are the ins and outs of your monthly expenditures? Understanding your finances should be the first step in your home searching process, then getting a pre-approval letter from a lender will help you know what you can afford. In addition, this letter will show sellers that you’re serious about buying a home and you can put your offer in with the confidence, knowing that you can afford the monthly payment.
Tip #2: Create a stand-out offer.
When you find the home of your dreams, be ready to make a great offer right off the bat. Your agent will help you figure out what offer is the best one and will take into consideration other home sales in the area, as well as the condition of the home, and what your overall budget is.
Tip #3: Be ready to act quickly and possibly negotiate.
The Clark County real estate market is still hot, meaning that inventory is low and buyer demand is high. Because of this, buyers many times need to compete to get the home that they want. This is where working with a real estate agent is incredibly valuable. Your Realtor® will work with you on creating a great offer and will present it to the seller as soon as possible. If it’s a situation where there are multiple offers, then your agent will walk you through the process of counter-offers, if needed. The bottom line: when you find a home you love, you must be ready to act fast before it’s gone and have patience with the process, because sometimes it will take some negotiation to get your offer accepted.
Buying a home is very exciting and 2018 will be a great year to get out there and find a home that checks all the boxes on your wish list. Contact me when you’re ready to get the ball rolling on house searching so we can create a great offer that gets accepted. In the meantime, my hope is that you have a happy holiday season that’s full of things that are warm, fun, and fulfilling.
If you’re buying or selling a home, the inspection process can be nerve-wracking for people. It often brings up questions or concerns that may be a little bit overwhelming at first. The inspection provides an overall evaluation of the home’s condition. Inspections can be complex, depending on the home and its condition. Every inspection provides a detailed look at all the working systems of a whole house. Then, depending on the home, there can be additional inspection processes that look at the sewer, oil tank, roof, or radon levels. Doing an inspection should be written into your sales contract, so you can expect to have one from the get go.
When you’re getting an inspection, be sure to use a licensed inspector. These people need to complete continuing education courses and are experienced with inspecting a variety of different styles and homes of various ages. Your Realtor will give you advice on a recommended inspector or inspection company.
How the process works:
When a buyer gets an inspection done, the seller may not know what the results are for a couple of days. When the buyer gets the results, they will get a copy of the report and determine what they want to ask the seller to fix, if anything. Most often, the buyer has 10 days to get repair requests to the seller. The Realtor will help the buyer determine which “to-do” items are reasonable to ask for and what isn’t.
Once the seller gets the list, they are given some time to get quotes or bids on the items that need completion. Having an experienced Realtor to work with you during this process is important, as the back-and-forth process can create much dialogue. It is critical that everyone understands each other and having an agent you trust here can help guide you along through some of the confusing details. Many times, the inspection process requires negotiation and a Realtor can be an asset in this part.
As a seller, this time can be nerve-wracking, as you are waiting to get quotes done and wondering what the result will be! Your Realtor will help you decipher the requests that come in, determine what is customary, and negotiate on your behalf. Again, your Realtor will play an important role in helping you get through the many hoops that can sometimes happen with the inspection process.
Buying and selling a home requires many different steps and it’s okay to have a lot of questions along the way. The inspection process can be very involved, and I am happy to sit down and talk with you about it if you need additional clarification.