October 12, 2007

Buying a Home - How to Get the Best Deal

Buying a Home - How to Get the Best Deal

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Balance is found in nature and the real estate market is not exempt from this.� It was only a matter of time until the strong sellers' market swung back to buyers.� We seem to be at the beginning of a great buyers' market as desperate homeowners flood the real estate market with homes for sale.

It is a really good time to be a buyer.� Go to view homes in most real estate markets these days and sellers fall all over themselves trying to make sure you get a good impression.

While being a buyer in this market is a good, it is only a starting point.� If you really want to get the absolute best deal out there, you need to take an extra step.� You need to get your financing lined up before house shopping.� This means getting pre-approved by a lender.

Sellers have learned to be wary of interested buyers these days.� Yes, they want to find someone to buy their home, but there are a lot of "false" buyers looking at homes these days.� These false buyers definitely are looking for a new home, but they make their offers conditioned on the sale of their current home.� In short, often times the offers are not worth the paper they're written on.

If you approach a seller with a letter of financing from a lender, you will be taken seriously.� You can negotiate a lower purchase price.� You can probably also get the seller to kick in furniture or other items.� When you have financing in hand, you are a rare bird in this market, and more apt to get the best deal on the home of your dreams.

Filed under Home Buying Tips, Most Recent Post by Buyers Only Realty