Summit County home buyers who want the best properties with the optimum deals can prepare themselves for success. Buyers can assume there is competition in today’s Summit County real estate market. Although a buyer might not need to wear his/her Sunday best, a homebuyer can impress the seller by arriving with a great attitude and loan preapproval and down payment or cash in hand.
In the current encouraging market, we are seeing great prices, low interest rates, top amenities, organized homeowner’s associations, and beautiful neighborhoods. Buyers access the condition of the condominiums or townhomes and single-family homes in Summit County. After considering all of these elements, the buyer selects the property to fit his/her goals.
Many markets across the nation are seeing multiple bids. According to a Fox Business article by Andrea Murad on March 21, 2013, “To win the bid, buyers need to stand out from the crowd.” How can a buyer land the Rocky Mountain property with the most attractive features? Expert advice presented by Murad includes basics tips like plan ahead, look in your price range, offer more cash, get preapproved, minimize contingencies, and, if possible, close whenever the seller would like to close.
Then they said to charm the seller. Savvy buyers can make an impression by sending the sellers nice letters explaining how they appreciate the specific properties.
So here’s the basic check list. Several months before looking for houses, get your finances in order. Check your credit reports. Pay down debt and do not incur additional large debts. Pull together as much cash as possible but at least 20% for the down payment the extra money allows for flexibility between the appraisal amount and your offer. At the right time, get prequalified for a loan and submit the pre-approval letter and proof of funds with your offer and letter of interest.
At times the right attitude is needed to beat out the all-cash offer that may be competing with your own. Beyond the home inspection and the appraisal, try to keep the entire transaction simple so the seller will be more likely to entertain your offer.
For information about possibilities, call Summit County Realtor Candy Snyder at 970-485-3000.
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