If you have been outbid on a Windsor property, you know what a huge disappointment it is. As a first time homebuyer, you are often bidding against other buyers who have been through the process before or have cash, which makes their offer more appealing to sellers. How can you make the process go your way the next time you make an offer on Windsor property?
1. Hire a professional agent: Make sure you hire a real estate agent that is experienced, knows how to successfully negotiate and understands the neighborhood. This way, you can get a heads up whenever a house comes on the market. You want to be the first one to view a property the second it becomes available. Be ready when your agent calls you and has a home to view. Make sure you put a deadline on your offer as they allows sellers less time to entertain offers from other interested buyers.
2. Get pre-qualified: A way to challenge those other buyers with all cash offers is to get pre-qualified for a home mortgage. This is always a good negotiation tool when presenting an offer. It tells the seller that you can afford the home and will not have to wait for approval from a mortgage company.
3. Don’t lowball: A good portion of home sellers today are selling their homes because they have financial troubles. Naturally, they want to get the highest price for their Windsor property as possible. While you don’t want to pay more than the home is worth, study the comparative market prices of other homes sold in the neighborhood and make a realistic offer.
4. Be Fair: If you know the seller is having financial difficulties, and if you are able, you can suggest a quick closing so they don’t have to make an additional mortgage payment. Don’t ask for anything out of the ordinary or be greedy with your requests. Sellers today who need to sell their homes won’t take kindly to accepting your offer if they have other offers on the table. Sellers take kindly to those willing to work with them, and you should, as long as it’s realistic and favorable to both parties.