Not many Americans will conduct enough property transactions in their lifetime to claim absolute expertise in making a residential real estate deal.
Market dynamics are rarely the same from one year to the next. Your experience as a seller or buyer will be very different when competition isn’t so fierce.
So, understanding the characteristics of the current market is key to making the best decisions when buying property.
As an experienced agent in our neighborhood, here’s three pieces of buying advice that folks rarely share. I hope you find them helpful.
Choose your agent well
There’s more to negotiating a property deal than putting cash on the table. Sellers can have other concerns, too. So, you want an agent with a mix of experience and attentiveness. They should know how to perform in multi-offer situations and negotiate waivers and escalation clauses.
Waving goodbye is dangerous
Some buyers are encouraged to get to the head of the queue by not commissioning a professional property inspection, thus waiving a vital contractual get-out clause if the property has issues. It might win the seller’s favor but think carefully before agreeing.
Where to find a great deal
We all love a cheaper deal, and that’s why so many buyers want a fixer-upper. But don’t focus only on properties that need TLC. Cast your net wider and consider neighborhoods that are on the up-and-up. This is an especially good idea if you keep getting outbid. Choosing the right location is critical to a successful property purchase.