Home prices are rising and today’s mortgage holders are reaping the rewards. A reward of nearly $457 billion collectively, to be exact.According to Corelogic’s 2019 3rd Quarter Homeowner
How To Get The Best Deal On A Brevard County Waterfront Home
1. Get Pre-Approved For Mortgage Before You Shop
Fewer than 10% of homebuyers obtain a preapproval for a mortgage before they start shopping for a house. Yet, doing so offers a lot of benefits. For one, a mortgage pre-approval gives you the exact figure you can spend on a house so that you don’t waste time falling in love with a house that is above your budget, or trying to make it work with something under your actual budget.
Secondly, when you submit an offer on a property it is taken more seriously when you are already pre-approved to purchase the house.
2. Hire Experienced Brevard Real Estate Agent
It’s not uncommon for a homebuyer to assume they can get a better deal without an agent, but this is a mistake you don’t want to make. A real estate agent knows how to negotiate the best deal possible on a property, plus they have access to listings you wouldn’t find on your own. Instead of letting things get personal, agents keep it all professional, which is always best when it comes to getting a good deal.
All of our agents are up to date on the latest local listing prices and sales trends so that you never pay too much.
3. Act Fast On Homes You Like
When you see a home that you really like you want to act fast before anyone else shows interest and bids you up. Sleeping on it over the weekend could result in this exact predicament, in which case you’ll either lose the house or end up paying more than the asking price for it.
We are currently in a sellers market, which means homes are spending less time on the market and selling for more money. The faster you get in an offer, the less opportunity someone else has to come and show interest. If you have a pre-approval and a reputable real estate agent (as outlined in number 1 and 2) you can act even faster.
4. Make An Offer Based On Home Value
It doesn’t matter what someone has a home listed at, what’s more important is the actual home value. Being wise to local housing prices is key to making an appropriate offer. Without doing the research to find out how much a house is really worth, based on comparable sales within the last month or two, you could end up paying well over market value.
5. Have An Inspection On The Property Before Making An Offer
Have an inspection conducted on the property before making an offer. This puts you out a little bit financially, but it’s a wise precaution to assure there are no major issues with the house that will cost a lot of money to fix. This may give you more leverage when you make an offer if potential issues do come up during inspection. Otherwise, if you have the inspection done after making an offer, it may be harder to get the owner to come down in price or make necessary repairs.
6. Be Flexible On Easy Fixes
Bad décor and ugly wallpaper may make you hate a house, but remember that things like this can easily be fixed and may actually help you get a better deal. Take this as an opportunity to get a nicer home for less, and remember any small ‘ugly’ accents make for an easy and affordable fix. Dated windows, appliances, countertops or even dirty carpets may seem like a deal breaker, but it’s actually just a great way to get a better deal on a waterfront home.
7. Beware Of Low Listing Prices
If a house is offered for sale at $300,000 and surrounding homes sell for closer to $400,000 your agent will be aware of this. If there are 10 other offers on the property they will also be in the know. This is beneficial otherwise you could end up spending $400,000+ without even knowing what’s happened if you get entangled in a bidding war. If the property is listed well-below market value and there are not any offers on the table this could signal something is wrong with the property, something else an agent will be able to help you with.
Score a great deal on a beautiful waterfront property in Brevard County with the help of Curri Properties!