Tips for Buying in a Seller's Market
It is a seller’s market with buyers submitting competitive offers; the Premia Relocation Mortgage team believes this will continue. In this hot market it pays to be prepared, especially if you are in your destination location with a short number of days to purchase a home. Be prepared before you tour homes.
- Have a pre-approval letter in hand. Premia Relocation Mortgage offers a strong pre-approval with credit, income and assets verified which makes for a solid offer.
- Consider making a cash offer with delayed financing. If an asset is available to be liquated or family member can provide a cash gift to purchase the home, the buyer can delay financing 90-days from the purchase date of the home. Once the home is purchased, financing can be secured to reimburse the liquidated asset or family member.
- Write a letter to the seller with a personal story. Sometimes, the highest offer does not always win when it comes to selling one’s pride and joy.
- Remain true to your budget. Multiple offers and continued negotiation can wear you down. Stay rational and do not offer more than you can afford.
- Be flexible when comes the sellers needs such as children moving schools.