Navigating the real estate market can be a little scary for the novice, especially in the days of COVID-19. With inventories low and mortgage rate on the rise, experts predict a consistent growth in the market for 2022 and a mortgage rate slow-down. Successful buyers will look for an agent who is well-versed in negotiations and understands the local market.
Getting to know the seller on a personal level can make or break a deal. Often, they are selling a home with warm and emotional family memories. Knowing that the buyers of their beloved house are people who appreciate the home’s history can make all the difference. If you can’t meet face to visit, write a letter to introduce yourself and let them know what you envision for the homes.
Emotions can go a long way to persuade the seller that you are the right buyer for their home, even if yours is not the highest offer. If you have conferred with your agent and mortgage expert, and if you are confident of your financing, waiving the home inspection can speed up the buying process.
Avoid a bidding war by keeping on top of listings as soon as they come on the market. Be prepared to expand your search area a bit to offer a wider choice of options and prices. It is better to extend your search a bit to find the perfect dwelling for your family. Waiting for prices and mortgage rates to come down could take 5 years or more and can be a risky game if the market gets tighter If you cannot find your special space or a house outside the noise and traffic of the city, consider an area with a good demand for rental property.
Should you miss the hustle and bustle of the city, you can rent the house and use the income to pay for your new home in town, although buying a new place can be stressful., the process doesn’t have to be. Do your homework! Take time to find the home of your dreams and be prepared.
Cindy Bryant is a Free lance real estate blogger and copy writer visit her Linkedin Page