As a buyer in today’s market, you must be a buying beast!
The real estate world we are amidst here in Vermont’s Chittenden County and surrounding areas is a battleground for buyers, and can be frustrating to say the least. It is a great time to buy with mortgage rates being low, and rental rates being high, getting buyers into homes and paying close to what they were paying for rent. Not only are mortgage rates low, but buyers have a lot of options for financing, options including no money down options, or very little down. Why pay someone else’s mortgage when you could pay your own, and generate equity for you and your future?
So you have met with a lender to get qualified and you are ready to take the leap…and a leap into the lions den if you don’t have clarity on what to expect. In today’s market for buyers, we are long past the days of getting ‘deals’, so get that thought out of your head. Granted there are some properties and locations that you can squeeze sellers and get them down on the price, but those options are few and far between. With inventory being low, and many buyers on the prowl, when that right property comes on the market you as a buyer can expect that you will be one of many jumping out to view that home the first day it’s available. What does this mean for you? It really means that whoever jumps the quickest, has the agent who can get you in as soon as possible, as well as couching you in the ways of writing an offer that will stick out over your ‘buyer’ competition. If you walk in a home and you love it from the moment you walk in, to the moment you leave, it is probably the right property for you and there is no sense waiting. If you think, oh we will sleep on it for a day or two, I can almost guarantee that there is another buyer that won’t sleep on it, and that home will be under contract by the time you make up your mind.
As scary as this can seem, if you are mentally ready for it, it can be very exciting and accelerating when you submit that offer and negotiate to get those sellers to accept your offer over someone else’s. Of course writing offers won’t always be like this, but be ready for when it needs to be. Every offer is structured differently and needs focus on many factors when drafting that offer.
If you are thinking about buying a home, contact me today so I can prep you on how to get the deal done, and beat out other buyers, so they can drive by the house after you move in, and weep as they see YOU washing your car in the driveway that they didn’t get.