Don’t make these mistakes when trying to buy a home.
Competition is fierce among buyers in today’s market, which means that you’ll need to be able to submit an offer that truly stands out. However, this doesn’t mean just adding more money to your bid. The highest offer doesn’t always win, and there are five key reasons why:
1. Too many contingencies: Shortening contingency periods or removing contingencies altogether can help your offer stand out.
2. Inflexibility: If buyers aren’t flexible during the selling timeline, the seller may pass them by. The more flexible you are, the more likely you are to get your offer accepted.
"Try your best to get too attached to your offers; it’s common to lose in these competitive market environments."
3. Not being personable: If the buyer or their agent is abrasive, the seller will move to other, friendlier prospects. Sellers want to work with friendly buyers to ensure the entire process is smooth and painless. Additionally, seller’s agents are more likely to do business with agents they have a relationship with, so find a Realtor with good connections.
4. Other buyers are offering cash and few contingencies: In real estate, cash offers are king. Cash buyers can skip appraisals, loans, and a variety of contingencies, but a traditional, financed buyer cannot.
5. Asking for things that aren’t for sale: If the seller says an appliance or other item isn’t for sale, listen to them. Avoid asking to purchase it or include it in the sale.
Though it’s a tough market, these tips can help you avoid making mistakes when writing your offer. Additionally, try your best to get too attached to your offers; it’s common to lose in these competitive market environments. If you keep putting in offers, though, you’re bound to find the perfect home eventually. Perseverance is key.
If you have any questions or would like more information about buying or selling, feel free to reach out to me. I look forward to hearing from you soon.
Let BLG be your trusted agent and advisor for buying, selling or investing in Conejo Valley real estate.