Buyers have a lot of built-in contingencies in the standard purchase agreement, but need to keep it concise to appeal to the seller that the buyers will be easy to work with throughout the process.
Carmel, IN (PRWEB) June 09, 2016
“Finding a dream home when inventory is low and it’s a seller’s market can be quite challenging,” said Realtor Eric Fox, one half of the Phillips-Fox Team at Keller Williams Indianapolis Metro North. “However, it is not impossible, and an experienced Realtor can help make this dream come true.”
In order to help buyers in a seller’s market find the home of their dreams, the Phillips-Fox Team shares the following five tips:
No. 1: Write a strong offer. “This includes writing an offer with minimal contingencies,” said Lisa Phillips. “Buyers have a lot of built-in contingencies in the standard purchase agreement, but need to keep it concise to appeal to the seller that the buyers will be easy to work with throughout the process. Additionally, potential buyers should always ask for a home inspection.”
No. 2: Have a pre-approval letter. “A pre-approval letter, or proof of funds, submitted at the time of offer gives you a leg up on other potential buyers that do not have this,” said Fox. “Sellers typically get excited about buyers that have been pre-approved.”
No. 3: Utilize a listing agent. “Buyers should always ask their agent to speak to the listing agent to find out what’s important besides the price of the home,” said Phillips. “This includes the closing date or possession, and give it to them in the offer.”
No. 4: Write a letter. The Phillips-Fox Team stresses that prospective buyers write a personal letter to the seller illustrating why they want to live in the home and appeal to the seller’s pride in the home. They should highlight their family size and again complement the condition of the home and its curb appeal.
No. 5: Submit your offer right away. “You should always work with a qualified buyer’s agent and do not wait even a day to submit your offer. In this market, you might go over list price,” said Fox. “According to HGTV, ‘If you sleep on it, you may not sleep in it.’”
About the Phillips-Fox Team
The Phillips-Fox Team provide experience and knowledgeable expertise to buyers and sellers. Contact them to sell or buy your next home. They also offer no-obligation consultations regarding the current real estate market. Lisa and Eric embrace technology and are familiar with metro Indianapolis. For more information, please visit http://ericfox.kw.com or call Lisa at (317) 219-9277 and Eric at (317) 696-3250. The office is located at 11550 N. Meridian Street, Suite 450, Carmel, IN 46032.
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