Are you ready to buy a home in Houston? Are you in the middle of the home-buying process and would like to make an offer soon? It’s a big step! As local real estate agents, we highly recommend that you have an experienced agent by your side when you put in that offer. You’ll have a professional negotiating a deal for you, and that agent can guide you through every step of the process.
When inventory is tight and buyer demand is high in the Houston real estate market, it’s important to act fast and smart when putting in an offer. Here are some tips KCM Crew recently shared for buyers on how to get their offer accepted by the seller:
1. Know what you can afford. This step should take place before you put in an offer, and ideally, before you even start your home search! A pre-approval ensures that you are searching for homes within your budget, and it gives sellers peace of mind when you put in your offer. They’ll know you can afford their house, that you’re a serious buyer, and that the closing process will go faster.
2. Plan to act fast. The national average of homes for sale is at a 4.7-month supply while a 6-month supply is average. This means that inventory is down, but buyer demand is high, due to low mortgage rates. As soon as you decide on a home you’d like to purchase, inform your agent so that you can work together to present an offer as soon as possible.
3. Make a solid offer. Because it’s possible that the seller will receive more than one offer, you want your first offer to be solid. If you start too low, the seller might have the opportunity to go with another offer that is higher. You and your real estate agent can also work together to come up with ways to make you stand out, such as by writing a personal letter to the seller about why you love the home.
4. Be prepared to negotiate. It is likely that you will receive at least one counteroffer from the seller, so be ready to negotiate. This is when having a realtor by your side really comes in handy! The most common negotiations between buyers and sellers are the selling price and the closing date, but many other topics may come up as well. Be prepared!
As your real estate agents, we are here and ready to guide you through the entire home-buying process, from beginning your home search to closing on your dream home! When you’re ready to begin, or you have questions, contact us at any time.