Throughout Orlando, home inventory is at below average levels across several price points creating bidding wars for properties and what is known as a “Seller’s Market.” When making an offer on a property with your Realtor®, follow these tips to maximize the chance that you’ll close.
1. Treat Your Hunt Seriously.
House hunting must be your priority, not your weekend hobby. Check new listings regularly, be prepared to drop everything to view a home when it hits the market, and be ready to make a quick decision.
2. Bring Paperwork, Not Promises.
Want to be taken seriously by the seller? When you visit homes, bring a mortgage preapproval letter and a “proof of funds” form from your bank showing you have enough to cover the down payment.
3. Consider Waiving What-Ifs.
Homebuyers often include contingencies when making an offer so they won’t lose their deposit if, for example, the home doesn’t pass inspection. Waiving contingencies could help you close a deal, but this definitely is not a move for the faint hearted. To gauge your risks, consult your Realtor® and check www.realtor.com/advice/buy/what-really-happens-when-you-waive-contingencies.
4. Don’t Play Hardball.
This isn’t the time to try to lowball on price. Bid aggressively—while still staying within a monthly budget you can afford.
5. Widen Your Search.
You’ll increase your chances of finding a property if you’re willing to consider homes outside your ideal neighborhood and houses that may need some remodeling or renovations.
What’s Next?
We know that navigating a seller’s market may not seem easy, but with the right information and a talented Realtor®, it is always possible to find your dream home. To find an agent who can help you start the process of buying a new home click here or connect with us by calling 321-567-1202
