Monday, April 27, 2009

Getting the upper hand on a great real estate deal.

How do you position yourself to get the upper hand on a great find?

1. Have a mind set that there is no perfect house out there unless you are willing to pay the price for it, fix it up or build your own.

2. Know what you need, want and things you can do without. This step will help to eliminate doubt, hesitation and avoid buyer's remorse.

3. Act quickly when you find one. Waiting only creates more opportunities for competing offers.

4. Once you've found what you want, get a market report (CMA - comparable market analysis) of sold properties within the last three months or 6 months. The closer the comparables are to the current market the more accurate your offer will be.

5. Determine your financial limits - how high you are you willing to go and be comfortable with the payments.

6. Step forward with your best offer - price and terms. Avoid multiple offer situations by being the first to take the advantage and get it under contract. This isn't the time to hesitant and play guessing games.

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1 comment:

Anonymous said...

nice article!

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thanks!