HELP! I keep losing out on buying the house I wan
If you are buying a house in Austin, Texas, be prepared for a VERY competitive marketplace. Go strong or go home is the current mantra when making offers and if you're not working with a professional real estate representative, you will likely never even get the opportunity to make that offer. Here are several reasons why:
1) Don't make the mistake of thinking that you will get the house for a better price if you aren't represented by a buyer's agent. The Seller has already agreed to pay a listing broker their commission; the only difference will be that the listing broker will get 100% of the commission (and do twice the work so certainly earns it) than if there is a buyer representative handling the buyer side of the transaction. The buyer's representative will be acting on your behalf, protecting your interests which is critical in any type of market.
2) Desirable homes, priced well in a brisk real estate market, will command a great deal of interest from homebuyers. Don't make the mistake of lingering in making a decision; someone else will buy the house! This is especially true if the home is in a good neighborhood.
3) If the house is priced well, give the Seller the price they want for the home. If you don't, someone else will. I'm not suggesting you overpay for a home but pay fair market value and if needed, go a bit higher if your agent feels the home will likely appreciate in the near future.
4) Get prequalified and preapproved BEFORE you start house hunting. Sellers are going to require proof of your ability to close the transaction before they'll consider your offer.
5) The most important thing you can do if you're considering purchasing a home is to find a real estate professional that is willing to work with you throughout the home buying process. You will need to be educated on the process, know how to negotiate and overcome issues that will arise and help bring your transaction to a successful close. Homebuying can be a joyful experience. Call me and let me help you with your home buying needs.
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