Sunday, September 19, 2021

Nancy Knows Homes – All Things Real Estate: Strategies for purchasing a home in a seller’s market

By Nancy Pieper

We’ve all heard the stories- you lost out on your 4th attempt to buy a home, in a bidding war. For over a year now, Texas real estate has been on FIRE, as having the right home for our new normal has become a priority. Let’s talk about the best way to position yourself and your family to get be successful in your quest for that dream home!

First of all, are you making offers to make offers, or is your intent to purchase a property? Here is a list of decisions that you need to make before making a successful offer:

Who will be paying title? The cost of title policy is based on price of house.

Will you need an option period? Yes or no?  (This is a discussion to have with your agent).

Are you asking for repairs?

How much earnest money will you put down? Talk to your realtor about this (one percent is a standard amount, but maybe not in this market…)

Will you require a home warranty?  You can always purchase that yourself!

Who will pay for survey if a new one is needed?

Does the seller need a lease back? Will you charge for this?

Sellers are expecting appraisal waiver. A full or partial – talk with your realtor to understand which works best for you.

It is vital to have these conversations with your realtor prior to hitting the road to look at houses. This can be the difference in you successfully purchasing your dream home or someone else living in your dream home.

Keep your eyes on the prize – have you found any other house that comes close to your criteria? If not, put your best foot forward. Too many buyers lose their dream home over what ends up being small matters.

 

Nancy Pieper was a Flower Mound resident for 30 years and currently resides in Lantana. A Realtor for close to a decade, she is a a 1% top producing real estate agent in the DFW Metroplex. Learn more about her here.

 

(Sponsored content)

CTG Staff
The Cross Timbers Gazette News Department

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