Hi guys! The blog is back after a few weeks off and I'm thinking we could all enjoy an Ask The Realtor post featuring some helpful insight from my friend and realtor, Kim Douglas. This week Kim is chattin' all about buyer mistakes. Yup, there are a number of things that all of you prospective buyers can refrain from doing as you enter the house hunting process. Read on to hear what Kim has to say!
I’ve shared some tips on mistakes to avoid when selling your home. There are also some things to keep in mind when submitting an offer on that dream home! You probably hear just about everywhere how crazy the real estate market is - multiple offers, over asking price, waiving inspections, etc. I hear from buyers all the time; how can I win? So, here are a few tips of things to avoid that could help you in this seller’s market.
Don’t Delay! They say, time kills all deals and it’s true. Dragging your feet could mean you wind up paying more or losing out altogether. In this market it’s super important to take a good look at your showing or that open house and be ready to move quickly on your offer.
The second thing you don’t want to do is make an offer based on the exact pre-approval price. Sometimes buyers think they shouldn’t show what they’re fully capable of paying, but actually you should! It will show just what a strong buyer you are and yes, that you may be willing to go higher if need be, nothing says you have to, but it’s good to put the best, strongest foot forward from the beginning.
Another don’t in this sellers’ market is a low ball offer. It often backfires…if it’s not backed up with recent comparables it could turn off the seller to not even respond.
One big mistake a lot of buyers make in the frenzy of multiple offers is waiving inspections. Big no-no! I suggest always doing some sort of inspection no matter what the house is. Even if it’s just for informational purposes.
And finally as a buyer in a competitive market, do your best to present yourself the best you can. Seller’s agents may be looking during open houses or showings to see who might be easiest to work with so it’s best not to point out every defect, paint colors you don’t agree with and things like that.
Have any questions about buying or other real estate related questions, feel free to reach out to Kim directly here!
Be sure to come back next week when I reveal 5 organization products I swear by!
Thanks for reading!