Buying In Seller's Market
May 15, 2019
Buying in Seller's Market By Sandra C Brown, Principal Broker Dream Catcher Realty, Sevierville, TN
Several Conerns
a) Inventory is low
b) You are competing with seasoned cash investors
c) Many cases of Multiple Offers
d) Some properties are overpriced
Solutions
a) Get preapproved or have proof of funds letters to submit with offer
b) Have your agent do a CMA to learn true value
c) Be prepared to offer upto CMA value
d) If allowed, have a contractor inspect before making an offer
e) If you really want the property write the offer with as few contingincies as possible
f) Be responsive to seller's questions or requests
g) Be prepared for multiple offers. Be prepared to offer upto CMA value
h) Some types of homes have a 10 day first look and submit policy for owner occupants only. Use this time to submit an offer based on the CMA.