If you’re slow to act, uninformed about market conditions, and sloppy with your offer, you’re shooting yourself in the foot as a buyer. Here’s what not to do in our market.
Our current real estate market is still moving, and it’s characterized by low interest rates and low inventory. Now more than ever, buyers need to understand the importance of getting pre-approved. Giving yourself an edge isn’t as hard as you think it is; here are seven easily avoidable things that will hurt your chances as a buyer in our market:
Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch it in its entirety or use these timestamps to browse these tips at your leisure:
0:59 - Not having your mortgage lender pre-approval letter ready
1:38 - Failing to put forth a competitive offer—the notorious ‘lowball’ offer
2:37 - Requesting unrealistic terms or conditions
3:48 - Submitting a low earnest money deposit
4:15 - Submitting a ‘sloppy’ offer—typos, empty spaces, and/or a disorganized presentation
5:08 - Not acting fast enough
5:33 - Ignoring current market conditions
6:24 - BONUS tip: Not hiring a great agent, like yours truly, can hurt you!
6:55 - Wrapping things up with Chiquita Banana
As always, if you have questions about this or any other real estate-related topic, don’t hesitate to reach out to me. I’m here to help!