The competition to find the right home can be fierce. However, it is still possible for the educated buyer.
BELLINGHAM, Wash. (PRWEB) March 16, 2018
Today’s real estate market is fraught with high prices and low inventory. “The competition to find the right home can be fierce,” said Bryant Davis, broker at RE/MAX Whatcom County, Inc.. “However, it is still possible for the educated buyer.”
To help buyers find a home in a competitive market, Davis list the following six tips:
No. 1: Get prequalified. Sellers will not entertain an offer without a prequalification letter.
No. 2: Have a strong earnest money. Earnest money is a deposit made to a seller showing the buyer’s good faith in a transaction. “This shows that you are a serious buyer, and it also applies to your down payment,” noted Davis.
No. 3: Release earnest money after waiving the inspection in an appraisal. “In today’s competitive market, one way of making your offer stand above is by releasing the earnest money after you waive the inspection in an appraisal because it might entice a seller to accept your offer because it puts the money in the seller’s pocket for their upcoming move,” added Davis.
No. 4: Get an inspection done. “I always encourage every buyer to have an inspection done. This is cheap insurance, even if it’s new construction,” stated Davis. “You never know what kind of problems a house might have--it’s good to have a professional have a look. If you can shorten the inspection timeframe, this will also help you stand out among competing offers. A well-seasoned agent should have great relationships with home inspectors and should be able to expedite a shorter inspection turnaround.”
No. 5: Hiring an agent who is an expert in negotiations. Well-seasoned agents really understand the local market and how to negotiate to one’s benefit as a buyer.
No. 6. Have a personalized letter. “Write a letter to the seller letting them know how much you enjoyed their home,” concluded Davis. “Sometimes attaching a photo also helps, as it personalizes a buyer in the seller’s eyes.”
About Bryant Davis, RE/MAX Whatcom County Inc.
Referrals are the No. 1 source of Bryant Davis’ business. He has an extensive network of both professional and personal contacts, which enables Bryant to be in the know and provide information to others in the know about real estate and other items important to their livelihoods. He specializes in commercial real estate and new construction developments. For more information, please call (360) 815-1262, or visit http://www.bryantdavis.com. The office is located at 913 Lakeway Drive, Bellingham, WA 98229.
About the NALA™
The NALA offers small and medium-sized businesses effective ways to reach customers through new media. As a single-agency source, the NALA helps businesses flourish in their local community. The NALA’s mission is to promote a business’ relevant and newsworthy events and achievements, both online and through traditional media. The information and content in this article are not in conjunction with the views of the NALA. For media inquiries, please call 805.650.6121, ext. 361.