Top 10 Questions for 1st Time Homebuyers on Making an Offer

Buying Your Home – Making an Offer

Top Questions…

Can you buy homes below market?
While a typical buyer may look at five to 10 homes before making an offer, an investor who makes bargain buys usually goes through many more. Most experts agree it takes a lot of determination to find a real “bargain.” There are a number of ways to buy a bargain property:
*Buy a fixer-upper in a transitional neighborhood, improve it and keep it or resell at a higher price.
* Buy a foreclosure property (after doing your research carefully).
* Buy a house due to be torn down and move it to a new lot.
* Buy a partial interest in a piece of real estate, such as part of a tenants- in-common partnership.
* Buy a leftover house in a new-home development.

What is the difference between list and sales prices?
The list price is how much a house is advertised for and is usually only an estimate of what a seller would like to get for the property. The sales price is the amount a property actually sells for. It may be the same as the listing price, or higher or lower, depending on how accurately the property was originally priced and on market conditions. If you are a seller, you may need to adjust the listing price if there have been no offers within the first few months of the property’s listing period.

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Write the offer: Before your Dream Home is gone at the Dream Price

house blu cartoonAre you shopping for a home in RAMONA or SAN DIEGO? You are not alone. It seems the RAMONA REAL ESTATE market is sizzling again, at least with more 1st time homebuyers being thrust into this Real Estate Market with the incentives, the “Hot” market now is under $300,000 or in the 1st time homebuyer range. We are again seeing “multiple” offers on homes. We have not seen that in several years. So it is time to shift our Real Estate Mentality back to the sense of urgence when looking in this price range. The “Hot” homes are selling so quickly lately it would make your head spin. My Advise? WRITE THE OFFER, sooner rather than later. And make it your BEST OFFER. If you write it too low you will be outbid and over bid. Now remember, I am still talking about the homes under $300,000, at least for now. With many of these homes Bank Owned, the banks have already done their market analysis and KNOW what the home is worth, So if you seriously like the home, make it your best offer or someone else will. Remember too, the Buyer still has their contingency period to review disclosures. But you have to get in the Arena to Play:) Good Luck and may the best offer WIN!

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