{"id":3768,"date":"2021-09-15T05:00:31","date_gmt":"2021-09-15T10:00:31","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/5-tips-for-making-your-best-offer\/"},"modified":"2022-03-18T09:04:07","modified_gmt":"2022-03-18T14:04:07","slug":"5-tips-for-making-your-best-offer","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/5-tips-for-making-your-best-offer\/","title":{"rendered":"5 Tips for Making Your Best Offer"},"content":{"rendered":"

\"5<\/p>\n

In today\u2019s sellers\u2019 market<\/a>, standing out as a buyer is critical. Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high buyer\u00a0demand<\/a>. If you\u2019re buying this fall, you\u2019ll want every advantage, especially when you\u2019ve found the home of your dreams.<\/span><\/p>\n

Below are five things to keep in mind when it\u2019s time to make an offer.<\/p>\n

1. Know Your Budget<\/strong><\/h4>\n

Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved<\/a> for a loan. As Freddie Mac<\/em> puts it<\/a>:<\/p>\n

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\u201cThis pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.<\/strong>\u201d<\/em><\/p>\n<\/blockquote>\n

Showing sellers you\u2019re serious can give you a competitive edge. It enables you to act quickly when you\u2019ve found your perfect home.<\/p>\n

2. Be Prepared To Move Fast<\/strong><\/h4>\n

Speed and the pace of sales are contributing factors to today\u2019s competitive housing market. According to the latest\u00a0Existing Home Sales Report<\/em> from the\u00a0National Association of Realtors<\/em>\u00a0(NAR), the average home is on the market for just\u00a017 days. <\/strong>As the report notes:<\/p>\n

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\u201cEighty-nine percent of homes sold in July 2021 were on the market for less than a month<\/strong>.\u201d<\/em><\/p>\n<\/blockquote>\n

When homes are selling fast, staying on top of the market<\/a> and moving quickly are key. After you\u2019ve worked with your agent to find the home that suits your needs, they\u2019ll help you put together and submit your best offer as soon as possible.<\/p>\n

3. A Real Estate Professional Can Lead You to Victory<\/strong><\/h4>\n

No matter what the housing market looks like, rely on a trusted real estate advisor. As Freddie Mac<\/em> says<\/a>:<\/p>\n

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\u201cThe success of your homebuying journey largely depends on the company you keep. . . . be sure to select experienced, trusted professionals who will help you make informed decisions and avoid any pitfalls.<\/strong>\u201d<\/em><\/p>\n<\/blockquote>\n

Agents are experts in the local real estate market. They have insight into what’s worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller may need can help your offer stand out.<\/p>\n

4. Craft a Strong, Fair Offer<\/strong><\/h4>\n

In the past, offering at or near the\u00a0asking price\u00a0was enough to make your offer appealing to sellers. In today\u2019s market, that\u2019s often not the case.\u00a0According to\u00a0the latest Realtors Confidence Index<\/em><\/a> from NAR, 50% of offers are above the list price.<\/strong><\/p>\n

In such a competitive market, emotions and prices can run high. Having an agent to help craft a strong, fair offer is critical in these situations. Your agent can help you understand:<\/p>\n