Use the Internet to Find the Perfect Home
Finding the perfect home is easier now than ever before. The internet gives house hunters access to countless number homes with the click of a button. While this means that you will have plenty of results for your online home search, it can also be overwhelming. Here’s how you can find the right house without scrolling endlessly.
Choose the Right Website
When you are starting your online home search, make sure that you are using a reputable site. Ask your real estate agent for recommendations or make sure the site you’re using has up-to-date listings. It is disappointing to find a house you are interested in only to find that it has been sold and is no longer available.
Think About Your Top Priorities When Conducting an Online Home Search
Keep in mind that your new house won’t have every feature you are looking for. Start your online home search by thinking critically about what your top priorities are to avoid wasting your time.
Priorities include the need to be close to work, a large landscape for gardening, or a home with lots of amenities. Define these needs ahead of time and you will be able to better identify homes that meet your criteria.
Do Research on the School System
If you have children, researching schools will be a key part of your online home search. Some websites display school ratings on the search pages, but you might want to read reviews and check out the school system website. Even if you do not have children, school quality often affects home values and the neighborhood.
Consider What Type of Home You Want During Your Online Home Search
Some families have a strong preference for a new construction home, while others are interested in skipping realtor fees and searching for homes that are for sale by the owner.
Consider the pros and cons of each type of home and whether or not you have a preference about what you’re looking for. Remember that even if you buy a new construction house, you should still work with a home inspector before your final walk-through to ensure that it is free from defects.
Be Honest About Your Price Range
Buying a new home is expensive, and the price might end up much higher than the listing if several buyers have bid on it. Be realistic about your preferred price range and the maximum amount that you’re willing to spend.
Just because you get pre-approved for a certain amount of money doesn’t mean you should take out the full amount. Sit down and work through your budget with your family as you prepare to start your online home search. This way you won’t waste time on houses outside of your budget.
American Home Inspection Services offers home inspections and other services to Southeast Michigan. If you’re buying a home, contact us to request an appointment.
The Challenge of Buying a Home in a Sellers Market
In many areas, the current real estate market favors sellers, as there are more buyers than homes for sale. This gives the seller an advantage in the transaction and many buyers find their offers being rejected amidst the competition. To get the house you want, try these helpful tips to get your offer accepted.
Large Down Payment
If you have the funds to make a large down payment, do so. This shows the seller that you are a financially secure buyer, which will increase the likelihood of closing the transaction.
Cash Offers Will Get Your Offer Accepted
Sellers prefer buyers who can pay cash over those who need a loan from a financial institution. With cash, there is no risk of financing falling through. Paying with cash can speed up the time it takes to close, as there will be no delays waiting on the lender to provide the funds.
Submit an Escalation Clause
An escalation clause states that the buyer will increase their offer above the highest price offered by other potential buyers. When you include an escalation clause, your offer is automatically increased without the need to resubmit a new contract or amend the existing one.
In the event of a bidding war, this keeps your offer at the top of the list. If you want to get your offer accepted, an escalation clause can help you achieve this goal.
Earnest money is a way of showing the seller that you are serious about purchasing the house. Generally, the earnest money is between 1% to 2% of the selling price, but offering more and waiving contingencies will prove your intent to buy and makes your offer more attractive.
Get Your Offer Accepted by Paying the Sellers’ Moving Expenses
If you’re making an offer on an occupied house, you might offer to pay for the seller’s moving expenses. When you cover the moving expenses, the seller receives an extra financial benefit that is not a part of the sale price. This bonus could tip the scales in your favor.
Close on the Seller’s Terms to Get Your Offer Accepted
Find out from the seller what they would like the contract to include. If they will share this information, you can offer exactly what they want. This makes it more likely for you to get your offer accepted because you’ll include what the seller needs to close on the house.
The real estate market can be extremely competitive, however, these tips give you an advantage over other buyers making offers on the same property.
American Home Inspection Services serves Southeastern Michigan with home inspection services. Contact us to schedule an appointment.