The Boston real estate fall market
is in full swing and because of the low inventory there is an abundance of home
buyers out there! If you are anxiously waiting to find the perfect Boston home
to make an offer on, you may soon find yourself in the middle of a bidding war.
To compete in a bidding war, Boston home-buyers need to
prepare financially for the home purchase, know the property values in their
target neighborhood, and know exactly what they want. Most importantly, you
need to be ready to act right away, if the perfect Boston home comes on the market. Here are
some tips to increase your chances of making the winning offer in a bidding war on the Boston home of your dreams.
Get everything financial all in order. Don't
wait till you are already looking to start talking to a mortgage lender. Know
who you will use, what you can afford, what rates you can get, and get that
signed pre-approval letter before seriously looking at homes. If you are a cash
buyer have it ready to move and the paperwork to prove it.
Make a fast, personalized offer. Have your Boston Real Estate agent tour
you through homes the day they come on the market. With this strategy, you may
be first in line for offers. Your agent can also work with the other agent to
see what is motivating the sellers. Maybe it is all about the numbers, or maybe
flexibility is more important to them, such as a quick closing or rent-back
options. Making it as easy as possible on the sellers could make your offer
chosen above the others.
Be ready to act quick. Be ready to move, not only on
that offer, but to also have your inspector on alert and ready to view the home
as soon as the sellers allow. Quickness also applies to contingencies. Most
certainly do not add any contingencies about needing to sell your home first if
you expect a bidding war. A stronger offer would also not include home
inspection, financing or appraisal contingencies, but understandably these
contingencies do protect buyers and it is hard to give up that protection.
And above all, make sure you are working with a qualified professional!
A Boston Real Estate agent who
has the experience to help you compose the perfect offer to get that Boston
home of your dreams! Please contact a Boston Real Estate agent
when you are ready, I cannot wait to earn your business!
Lucas Garofalo
Keller Williams Realty
(617) 861-3631
Lucas@LucasBostonHomes.com
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