Our Market inventory continues to be low and creates a seller’s market here in the Tracy area. Below I have given a few tips to help buyers in a seller’s Market. If you would like to meet with us to learn about our Exclusive “ BUYER ADVANTAGE PROGRAM” just call us at 209-833-7777 or e-mail us at tiger@bpbarringer.com to schedule an appointment.

Regards,
Bill Barringer
Real Estate Broker
Century 21 M&M

 

BUYER TIP’S IN A SELLER’S MARKET

1. Pre-approval: Be sure to start your home buying process by getting pre-approved for a mortgage. This will prove to your potential seller that you are ready, willing, and able to buy their home. A pre-approval will also give you an exact number of how much money you can borrow, and thus spend.

2. Be ready to buy: There can be no hesitation during a seller’s market. There will be other buyers waiting to to grab up the same deal you just found. If the numbers work out in your favor for a home you like, then be ready to put in a strong offer.

3. Know your budget: You may be approved for a loan of up to $300,000, but you only want to spend $250,000 as your max. Be sure to know ahead of time what your budget really is.

4. Make a strong offer: In a seller’s market, homes can expect to receive nearly if not all of their asking price. And in many cases, you may even find a home sells for more than the asking price. So, in order to make both a good impression on the seller so they take your interest seriously, as well as to beat out the competition, be sure to present a strong first offer.

5. Be willing to negotiate terms: This means if a seller needs 60 days until closing, do what you can to accommodate them. Or maybe they are unwilling to make a repair before you move in, but are willing to pay you the repair costs instead. Be willing to work with a seller, if it means getting the home you desire.

These simple tips can make a big difference when it comes to buying in a seller’s market.