If you're considering selling your home in Brevard County, you've probably given some thought to your ideal sale price. Of course, not all sellers get their asking price. Many property sellers
Buying a Home in Brevard County? 5 Top Tips to Make Your Best Offer
Dated: October 19 2021
There's no denying it; the current real estate market in Brevard County is a sellers' market. With multiple-offer situations and bidding wars becoming the norm, it's crucial to stand out as a buyer if you want to get your dream home. If you're thinking about buying a home in Brevard County this fall, here are some tips to help you take advantage of every opportunity you get!
Get Pre-Approved with a Lender
In this market, having a pre-approval letter from your lender is a must. Going through the pre-approval process will help you gain a clear understanding of your budget and the type of home you can afford. It also demonstrates to potential sellers that you are serious about purchasing their home and can afford to. Sellers are more likely to consider an offer that is accompanied by a pre-approval letter. In fact, some real estate agents won't even show homes to buyers who are not pre-approved!
Be Prepared to Act Quickly
Homes in Brevard County are selling in an average of 48 days (from listing to closing). This means most homes are under contract within the first couple of weeks on the market. When homes are selling this quickly, you must stay on top of the market and be prepared to move quickly. It is a good idea to research potential areas and neighborhoods of interest before looking at homes. This can give you a better idea of what other properties in the area are selling for and determine what you're willing to offer.
Work with an Experienced Real Estate Agent
A trusted and experienced real estate advisor can be worth their weight in gold when it comes to presenting your offer. This is because a good agent is an expert in the local real estate market and has insight into what sellers might be looking for in an offer—as well as what other buyers are typically offering! A knowledgeable real estate agent can help you navigate the sales process with ease and help you avoid any potential pitfalls.
Put Your Best Foot Forward
In days gone by, many buyers would start negotiations by presenting the seller with the lowest offer possible, and most sellers would consider an offer at or just below the asking price. However, in today's market, this strategy is highly unlikely to get a seller's notice.
With such a competitive seller's market, time is of the essence. Your first offer should be your best offer, or as close as you feel comfortable going to it. A knowledgeable real estate agent can help you create a competitive, fair offer that reflects the market value of the home and recent sales in the area.
Keep Your Offer Clean — But Don't Waive the Inspection!
It can be tempting to waive all contingencies in such an intense market and worry about what happens after—but this may not be the smartest move. An experienced real estate advisor can help you determine what contract contingencies are non-negotiable and what ones you may not need. In general, the fewer contingencies, the cleaner and more attractive the offer is to sellers. Of course, there are some contingencies that should rarely be waived, such as the home inspection. Before making an offer, it's essential to speak to a licensed real estate agent who can help you craft a strong offer that's in your best interests.
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