The
straight Answer is Yes!
I
like to keep things simple; it helps me stay in the moment and it makes the
goal of buying a new home more attainable. I find that sticking to the
facts of what is happening in real time keeps it less complicated as well.
Fact,
yes, Mortgage rates could rise in 2022, but historically, rates are still very
low!
Fact,
yes, it is still a Sellers’ Market, and the competition is still fierce!
Fact,
yes, you need to work with an experienced Real Estate agent with a strong
network of Affiliates and team members that can all pull together on your
behalf to put your offer at the top of the "offer stack" and keep it
there!
Fact,
if you have not been fully pre-approved by a qualified and thorough Mortgage
Broker, you run the risk of getting your offer accepted and not being able to
close your loan (see my previous post on getting pre-approved) - call Lisa
direct at 818-359-4145 with any/all your questions?
Fact,
you need Leverage! Tips for Winning a Bidding War on a house you really want:
1.
Up your offer. - Money talks
2.
Be ready with your Pre-Approval; does not hurt when the listing agent gets a
call from your Mortgage Professional to back up the written Pre-Approval!
3.
Increase the amount you are willing to put down
4.
Waive your contingencies; if not able to waive completely; think about shorting
the time from 17 to 5 for example
5.
Include an escalation clause
6.
Have your inspector on speed dial!
7.
Get Personal
8.
Let the sellers stay longer in the home after close!
9.
Comprise where you can; but not on things that make it difficult to resale the
home, if needed, in a "low market"
10.
Patience; buying a home today can take months, and months - do not give up too
soon!
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