Advice for Homebuyers Navigating a Seller’s Market
In today’s real estate market, it is extremely common for sellers to receive multiple offers on the first day their home is listed for sale. Joyce Delery, Broker, Engel & Völkers New Orleans, shares “Buyers have to be ready to pull the trigger on a moment’s notice and must be prepared to put their best foot forward”. For a seller, sometimes the smallest of detail is what makes one offer stand out from the crowd. Joyce shares some helpful tips for homebuyers to consider before ever submitting an offer – and a few to keep in mind when just starting to look.
Some of our top tips for buyers are:
- Have financing in place, ready to go / pre-approved (with local lenders)
- Refrain from purchases such as furniture, cars, appliances until after the sale
- Unless planned in advance, it’s best not change jobs once your start the search
- Be ready to pull the trigger on a moment’s notice
- Submit a “clean” offer
- Straightforward, routine contingencies
- Don’t add a lot of junk to an offer – try to avoid a bunch of inclusions – unusual terms and conditions are red flags
- No Predication
- If you are in a multiple offer situation, you should be prepared to write your “walk away number” – how much are you willing to pay “if you do not get the house, you will not be upset” – you feel comfortable you gave it your best shot and would not be comfortable with paying X more.