2021.02.20
Are you hoping to buy a home in 2021’s hot housing market?
This short advice list can help you see success.
Home prices have been on a tear in recent months, and according to various predictions, they’ll rise more than 5% just this year of 2021. Fortunately, record-low mortgage rates can help offset those rising prices.
A mortgage pre-approval is non-negotiable in this environment. Not only can it give you a good price range to work with, but it can also make sellers more likely to choose your offer.
When facing multiple offers, pre-approved ones are typically stand-outs, indicating a buyer is prepared, ready to buy and a safe bet to follow through with the deal.
Having a great real estate agent can give you the upper hand in a seller’s market. For one, they can speed up the search for you. They can alert you ASAP when a suitable property hits the market and they might even know of up-and-coming listings that aren’t quite public yet.
Thanks to their experience and expert negotiation skills, agents can also help you submit a more competitive offer when you feel you found your Dream Home.
Submitting a great offer is more than just a numbers game. If you really want to stand out, include an offer in writing, with a personal note to the sellers. Waiving a contingency or two can also help, as can a larger earnest money deposit or being flexible with your closing date.
The bottom line
It might be a seller’s market, but finding an affordable home is still possible. If you take the time to prepare your credit and finances, get pre-approved for your mortgage and enlist a great agent, achieving your goal of a Dream Home may be easier than it seems.
Trust the www.AlgarveProperty.com team to help in your search for your Dream Home in the Algarve!
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