If you come across a home that you absolutely love, chances are there a couple of other people that feel the same way. In a multibid situation for the home of your dreams there is just one simple strategy, offer your MAX. If they take it then great! And if they go with another offer, you can rest easy knowing you gave it your all. It is a horrible feeling when you offer under your max in the hopes of saving a few thousand and the seller choosing not to counter and going with another offer. And it is even worse when the home closes and you see it sold for less than what your MAX was.
I would like to start off by saying that I would never pressure a client to get pre-approved prior to working with them. I will even show them houses without a pre-approval. I've done it many times. More often than not though they end up falling in love with a house and then start the process, which can take a couple days. Chances are however if they like a house, someone else out there likes it too. I've had clients lose out on a house because they were scrambling to get their approval in order and the house gets sniped from under them. It doesn't take long to do and I have some lenders that I absolutely trust to get the job done. These are only lenders I have personal experience with, lenders that have worked miracles and come through in the clutch.
If you would like to have a brief discussion with one of my lenders please call me, 619-972-4168.
As a buyer in a regular sale, you have certain protections and duties. One of them is the right to inspect the property any way you see fit. You will have ample access to the home in order to conduct your inspections. It's not like buying a car where it can be buyer beware. You need to know everything you possibly can in order to move forward comfortably with the home. If there is anything you are not comfortable with you can cancel without forfeiting your deposit.
Please reach out if you have any questions 619-972-4168
You may have heard the term "lifting contingencies." Contingencies basically pertain to milestones or duties you need to perform as a buyer, like the home appraisal or your inspections. For example, if you are done with your inspections and are comfortable with the condition of the house, you would "lift" your inspection contingency as a good faith gesture to the seller. This lets them know that you are still in love with the house and want to move forward. Please make absolutely sure that you are completely happy with the home because if you lift your inspection contingency and you find something you do not like later on during escrow, like maybe there is a crazy neighbor or something, you cannot cancel the sale without putting your deposit at risk.
If you have more questions about the process feel free to call 619-972-4168
A Buyer-Broker agreement serves the needs of an agent who wants to tie a buyer down exclusively via a contract. Agents do a lot of work for a client who is a buying a home. They are constantly looking at listings, lining them up for showings, and driving around. There is a very real fear that after all their work is done a buyer will write an offer with someone else like a listing agent. I'm all for loyalty, but it's the agent's abilities and service that should earn your loyalty.
You don't want to be with an agent who doesn't know what they are doing or does real estate part time. You certainly don't want to be stuck with someone who cannot get your offer accepted. You should be free to move on to a better, more experienced agent who can get you into your home. It can be tough to find that perfect house sometimes so you need an agent who won't drop the ball and if they do you need to be able to move on fast. Interest rates and inventory change daily and with things moving so quickly you don't want to be locked in for an extended period of time with a weak agent.
Bonus Tip: the listing agent you think might save you some money is not loyal to you. They really only just met you. They are truly loyal to the person they have built an actual relationship with and that's the seller.
Call me to go over any of your questions or concerns. 619-972-4168