Real Estate Buyers
For most, purchasing a home is the largest single purchase you will ever make in your lifetime. It can be a daunting task, both stressful and rewarding.
Hiring one of The Landmark Group’s experienced agent’s can take the stress portion out of the home buying process. Our agent’s are experts in negotiation, well versed in the local Real Estate market, and masters of communication.
From the moment you first make contact with one of our agents you will see why more buyers choose to work with The Landmark Group to help them find their perfect home. In the initial interview, our agents will determine from your input, exactly what you’re looking for, and match you up with your ideal home.
The local SW Florida Real Estate market has seen some drastic changes in the last decade. With interest rates at an all time low, as well as bargain prices on most properties, there has never been a better time to purchase.
That said, the local Lee County market has become a “tight” one, with more buyers than properties available to purchase. There are 7 important facts to take into consideration.
Get Started with a FREE Consultation
7 Important Points For Home Buyers
If you’re in a tight market, consider these strategies to smooth the process:
1. STAY CALM
Don’t spend money you can’t afford. “There’s a renewed frenzy” in the market these days. Buyers can get caught up in the hype, and that can mean spending too much.
2. MAKE YOUR BEST OFFER
Remain calm, yes, but realistic. When bidding on a home with multiple offers, you need your offer to stand out.
“Be bold.” “Usually, the best buyer we have on a bidding war is the guy who lost the last bidding war. He’s ready. He doesn’t want that to happen again.”
The danger is overpaying, but if it’s the right house for you, that risk is tempered by other considerations. “In a rising market, you look back five years from now, you’re not going to care about that extra $5,000.”
3. CREDIT CHECK
Before setting foot in an open house or lender’s office, check your credit reports at AnnualCreditReport.com (you can get one free report annually from each of three credit-reporting companies at this website). “If you see anything that doesn’t appear correct or needs updating, a good time to make those changes is before you’re in the process.”
Consider buying your credit score as well. (One option is MyFico.com.) With your score in hand, you’re in a position to negotiate. You can say to the lender: “I’m looking for a 30-year-fixed [mortgage], I have a fico [score] of 760, I can put 20% down. What sort of interest rates and closing costs can you offer me?”
4. ACCOUNT FOR ASSETS
In competitive markets, buyers need a lender’s pre-approval in hand before looking at homes.
Pre-approval is absolutely a must. One benefit to a pre-approval is that it sets a price limit on your home shopping. “There’s no sense falling in love with a place you can’t afford to buy because you can’t get approved for the loan.
5. BRING A BIG DOWN PAYMENT
If possible, bringing more than 20% to the table will help your offer remain competitive.
6. BE NICE
If you’re competing for a house with other buyers, stand out by making life a little easier for the seller. For example, be flexible about the closing date.
“If all things are equal – the seller is getting the same dollar amount from me or the next person – but I give the seller the flexibility of the settlement date that he prefers, maybe the seller is going to say, “Money’s not everything.”
7. FIND A GOOD AGENT
An experienced real-estate agent may alert you to homes before they come on the market. Plus, if your agent is respected, that can help you stand out with the seller’s agent.
