ON THE MOVE: How to Beat Out Other Buyers

THIS MONTH:

Brokers Jeff & Heather Buchanan Answer Your Real Estate Questions

HOW TO BEAT OUT OTHER BUYERS

Our local real estate market is blazing hot right now with a low supply and high demand. Homes are selling at record speeds, forcing buyers to compete against each other if they hope to win the property they want. So how can you make sure yours is the winning bid? Here are a few things you can do to improve your chances: 1. GET PRE-APPROVED  e odds of getting your o er accepted will increase tremendously if you can demonstrate to the seller that 3. OFFER A FAIR PRICE Now is not the time to go bargain hunting.  e more desirable the property, the more you need to put your best you are  nancially capable of buying the property. o er forward. Instead of low-balling and hoping to meet Before you make an o er, take the time to gather that in the middle, a better strategy is to o er as close to asking proof so that you will be able to submit it with your o er. If you plan to get a bank loan, ask your lender for a pre-approval letter that states the maximum amount you are able to borrow. Most lenders can usually get price as possible so that the sellers are more likely to accept. If it’s a property you can’t live without, you’ll want to o er asking price, or even a bit over asking price to make sure you don’t lose the property. If there are multiple o ers, most sellers will ask each buyer to send over their best o er these for you quickly, but it’s best to get one before you by the same deadline and then decide. Your REALTOR® start house hunting. If you plan to pay cash, be sure to can help you formulate the best strategy to win the get a proof of funds statement showing you have enough property by showing you recent comparable sales and the cash in the bank to buy the property. sales history of the property you want.

2.

DON’T DELAY

In our tight market, homes are often put under the contract within days of being listed. So if you  nd something you want, don’t drag your feet contemplating an o er.  e best strategy is to get your bid in as soon as possible and make sure it includes an option period.  at option period will give you extra time to inspect the property and decide for sure if you want it. An option period usually only costs $100, and it gives you the right to change your mind within a certain time frame (usually 7 days). Better to go this route than to decide later you want the property and  nd it already has a contract on it.

4.

MAKE IT PERSONAL

Most sellers want to know that their property will be in good hands after it sells–especially when they have made special memories there. Writing a personal letter to the sellers telling them about yourself, how much you love the property, and how hard you will work to take good care of it goes a long way. Knowing the property will be well-loved is often more important to the sellers than the ultimate dollar amount. We were not the highest bidder on our  rst home, but the sellers wanted their son to be proud of the home he was born in when he returned to visit Lufkin someday, and they knew we would love on it and take good care of it.

Whether you want to purchase your dream home or sell your property, we can help. Call one of our outstanding REALTORS® at Keller Williams Buchanan Realty Group today, and it will be our honor to go right to work so you can soon be ON THE MOVE!

Je and Heather Buchanan are the owners of Keller Williams Buchanan Realty Group with o ces in Lufkin, Lake Sam Rayburn, and Toledo Bend. Je is the President of the Lufkin MLS, and his background in appraisal gives him a distinct advantage when it comes to pricing and negotiating. Heather serves on the Lufkin Association of Realtors Board of Directors and Chairs the Policies, Procedures & Bylaws Committee. She is also an inactive state licensed attorney with unique insight into the intricacies of real estate contracts. Je & Heather work tirelessly to be a blessing to their clients, their agents, and their community.  ey are the proud parents of two baseball all stars and enjoy spending family free time at their lakehouse on Lake Sam Rayburn.  e Buchanan’s have attended Timber Creek Church for more than 20 years and base their business on biblical principles.  ey would be delighted to serve you, so call them at (936) 632-7700 today! 8