The real estate market is hot in Northeast Ohio and all over the country right now. With limited inventory, it is likely that any home on the market is going to receive multiple bids. If you are looking to buy a home then here are some tips to follow in order to win against multiple offers.
Pre-Approval
A great way to have your offer stand out among the competition is by getting your mortgage pre-approved. A pre-approval is different than a pre-qualification because a pre-qualification still has the potential to be denied down the road. Having a pre-approval will show the seller that you are a serious buyer. The Katie McNeill Team works with CrossCountry Mortgage and our associate, loan officer Jeanne Monreal, to get you finance-ready to buy your home.
Large Down Payment
Offering a larger percentage down towards a home shows that you are a serious buyer. It will also speed along the process for the buyer’s lender and increase the likelihood of a mortgage commitment being issued.
Cash Offer
Even if you cannot offer the highest bid then you should consider doing an all-cash offer if you are able to afford this strategy. This offer will be much more attractive to the seller since it will help the sellers avoid contingencies. You can always consider refinancing after you win the bid.
Work with the Sellers
Understanding the needs of the seller will help you structure your offer to be the most appealing to them. Your real estate agent will be able to contact the seller or the seller’s agent and figure out exactly what they are looking for. For example, knowing if they want a quick closing or not can be important information to construct your offer around.
Work with The Katie McNeill Team to Find and Buy Your Home Today!
The real estate agents at The Katie McNeill Team are seasoned professionals who will help you to find the house of your dreams and to secure it for your next living space. We look forward to serving you and doing the heavy lifting in the home-buying process to make it as hassle-free and exciting for you as possible. Please contact us today about buying a home in the city or town of your choice in Northeast Ohio.
Fewer Contingencies
Sellers do not want to deal with contingencies when selling their home if they do not have to. This means you are releasing them from the responsibilities of making repairs prior to closing. Making an offer with as few contingencies as possible will make your offer much more attractive compared to the competition. However, sometimes this means you will be left paying thousands of dollars in repairs yourself, so it is important to weigh the pros and cons.
Work with a real estate agent
It is always recommended that you work with a real estate agent when buying a home. In today’s turbulent market, it is especially important to work with someone that has knowledge and experience to help you negotiate.
Thinking about buying a home? Want to ensure your offer stands out among multiple offers? Contact The Katie McNeill Team to help you get into the home of your dreams. Our team of experienced real estate professionals will help you every step of the way
