Buying a home is a truly exciting time in one’s life. It’s one of those chapters in the book of life that stands out as a momentous occasion. It makes one feel that they have moved up the ladder of success – granted they have done it the right way. To buy a home successfully, however, means putting forth a strong offer to the seller. If you’ve found yourself wondering how to make your offer more appealing than other home buyers in the market, here are a few tips to consider in order to achieve your own home.
Get pre-approved for a loan
This first step is arguably one of the most important things you can do to stand out in the market of buying a home. A pre-approval simply refers to an official confirmation from a lender on how much they will be willing to let you spend on a home. When multitudes of offers on a home come through, the seller will have some decisions to make. If a buyer has an offer with a pre-approval attached to it, that speaks volumes and adds to the credibility of that particular offer. If there are two offers; and one offer has a pre-approval and the other does not, the buyer with the pre-approval is far more likely to get chosen because of the backing of that lender and the smaller risk imposed on the seller. Related:
Make fewer contingencies
A contingency in the context of buying a home is simply a condition a home buyer puts on the seller in order to move forward with the purchasing process. Contingencies like home inspections, in and of themselves, aren’t bad; however, the more you have, the less likely a seller will want to move forward with you – particularly due to the seller needing to move out as well. Make a contingency when absolutely necessary; otherwise, consider limiting those to appeal to the seller.
Make it personal
Because of how hot the housing market is these days, sellers often see numerous offers come through. To make yours stand out, consider making a personal connection with the seller. Write a letter to the seller expressing how important it is to you and your family to own that home. Name the improvements living in this home will make on your life that you’ve long desired. Perhaps the neighborhood has a past connection with you. Maybe the added space in the cabinets is something you’ve desired for years. Whatever it may be, let the seller know how much you value not only their time but also their home.
Whether you're planning on selling your Denver home, understanding the market is a huge part of knowing how to price and sell. Contact My Office at any time to find out what your Wheat Ridge real estate or Denver area property is currently worth. You might be surprised! Home values are up all over the place! Let us help you get every penny you deserve.