Real Estate markets in Montana are especially tricky and with home prices continually going up it can feel as though you may never get a home offer accepted. Add a competitive market, and it can seem daunting for buyers to put in a full-price offer and have it rejected. Especially if this happens not just once, but over and over again. So, what can you do to make sure YOUR offer is the that gets accepted?
When you make your offer, include your pre-approval from your lender or verification of deposit if you are paying cash. Being able to provide proof to a seller that you can pay is huge in the buying game. This should be fairly easy for you to do since most Realtors will only work with you after you have been pre-approved for a loan. Just make sure that the seller knows this, too. Your Realtor should be able to help you with this process.
Submit your offer as soon as you are sure you want to purchase the property. When you are in a seller’s market everyone else is looking at and trying to buy the same houses as you are. In most cases, the first offer heads to the top of the stack so the earlier you get your offer in, the more likely it is to be accepted.
You should also consider what you are willing to offer the seller. Work with your Realtor to get the amount right. The list price will give you a good idea of the seller’s expectations, but your Realtor can tell you if it is reasonable or not. They can also help guide you through offering above list price if the market dictates.
Our friend, Karen Goldsberry of Montana Lifestyle Real Estate suggests writing a letter to the sellers to include with your offer. Letting them know how much this house means to you and how you visualize yourself in the space. This will help sellers understand you and get them thinking that you are the best prospect for the home. In the letter, talk about your holiday plans for the house or the BBQ's you plan to host in the backyard. A personal letter will go a long way to help get your offer accepted.
While this list may be short, these are some of the key factors to consider when making an offer on a home. Our best advice for the home buying process is to work with a Realtor in your area. Someone who knows the market well can help guide you through the process of finding a home and making an offer. For first time home buyers especially, working with a professional will help you get the best advantage over other buyers in your area. A Realtor can make or break a real estate transaction, so make sure you pick one who is working for you!
Happy house hunting!
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