Although the Summer is winding down, our market is still competitive. It can be frustrating having to compete against other offers, especially when the Sellers are the ones calling the shots. Be sure that you are communicating fully with your agent - there is no such thing as a stupid question! To help navigate these choppy waters, here are some ideas on ways to make the home buying process smoother:
1. Strengthen your offer: One of the first things Sellers see on your offer for their home is how much Earnest Money you are putting down. Because this money is used as leverage for you to not back out of the contract, a higher amount can imply how strongly you desire the house. For example, a house under $200,000 typically has 1% Earnest Money put down. BUT if you really want to show how much you love their home, your offer could include closer to 2% Earnest Money.
2. Keep Emotions out of your Offer: It's no surprise that homes are going quickly here in Aggieland; our market is H-O-T and homes are moving quickly. But that doesn't mean your emotions have to be! When picking your home you want to consider things like if your furniture fits in the living room, or if there's enough closet space for your kid's toys, etc. What you don't want are your emotions deciding your offer - make sure to work with your agent on calculated numbers to be sure you get the best bang for your buck!
3. Lose the Contingency: Contingencies can complicate not only the home buying process, but also the offer itself. Again, our market is still moving quickly, so the best offer will be one with no contingencies attached. Of course, in some cases contingencies are needed, so try to keep an open mind and realistic expectations.
4. You want a Buyer's Rep Agreement: When I meet with a buyer for the first time, we go over what you are looking for in your home, as well as a couple legal documents, namely the Buyer's Representation Agreement. You want an agent, like myself, that explains these documents to you fully and wants to answer all of your questions. Without the Buyer's Representation Agreement, I am legally obligated in Texas to work for the seller, not for you! YIKES! But once signed, my fiduciary duty is to you - negotiating on your behalf with ONLY your interests in mind!
5. Research: Nobody wants to move to a new area without having some idea of what's around them. The internet is a great resource to look up restaurants, shopping, schools, bus routes, you name it! It's important to find an area that fits your needs and has what you're looking for to make your house feel like home.
I'd love to sit down with you to talk about our market and what you're looking for in your next home. Let's chat today!
Katie Langthorn | Real Estate Agent, REALTOR®
C: 281.850.7743 | O: 979.703.1979 | F: 979.703.1980
3091 University Dr. E. #230 | Bryan, Texas 77802
Your Source for Bryan/College Station Real Estate