You’ve Found “The Home.” Now What?


The long, tiring search is over and you’ve kissed a lot of frogs. You've finally found your dream home and want to make an offer on the property. How do you know how much to offer and if you’re getting the most value for your money in this Brandon MB market?


The offer phase of purchasing a home isn’t always straightforward and you need to at least know the market on homes in that area so you can determine if you’ll be getting the fair market value for that home. Ask your real estate agent to go through neighborhood  comparable actives and solds with you.  This report should be helpful with the offer process.


Lowballing is a common term in the world of real estate. It means that you’re offering to buy the house for a number that’s far below the market value. You run the risk of insulting the seller and losing the home for good.


But, if you don’t know the fair market value of the home you could overpay by thousands of dollars. To zero in on the market value of the home you’ve chosen, you should know if you’re in a seller’s or buyer’s market.


A buyer’s market means that there are plenty of homes for sale, but a shortage of buyers. This gives you more power to bid lower than the asking price and to even ask the seller to pay for some or all of the closing costs. In a buyer’s market, you’ll find the seller more willing to negotiate.


If you’re in a seller’s market, there is a shortage of homes for sale and you’re likely to have several potential buyers making offers at the same time. A seller’s market is a little tougher to negotiate in because you may need to compete with other buyers.


It’s sometimes devastating to a potential home buyer when their good-faith offer is rejected – especially without a counter offer. This could happen when the seller receives many offers and your offer was much less than the others. Or, the seller may back off of your offer to see if he can eventually get a better one.


All may not be lost, even if your offer has been rejected by the seller. The seller may not have accepted any offer on the home and you may still have time to negotiate by moving rapidly with a higher offer. This may result in a bidding war that your real estate agent will need to help you with.


A buyer’s agent is extremely helpful if you’re a first-time home buyer. He or she will be familiar with the local market and be able to negotiate the best deal on your behalf. You’ll learn a lot during this process, which may be helpful to you when you decide to sell.


If you’re working in a seller’s market and there’s a real shortage of homes in the area, you may still be able to get your dream home. Find a home you really love in an area you’re interested in and write a letter to the homeowner.


It’s a true leap of faith to try this method, but it’s worked for thousands of buyers and it just might work for you. Even if you receive a “not interested” reply, at least you’ll know you tried.


Never rush to make an offer in any market until you’re sure the home is right for you. Unless you do the proper research on the home, you may be rushing in to a situation that you’ll later regret.


Whether you live in Brandon MB, Virden MB or you're searching for acreages in these surrounding areas, the search can be strenuous and time consuming.  You can call on me to be your trusted go to REALTOR®, with insight on all new listings and recent home sales, within our local real estate market.

Top 3 Homebuying Tips If You're Single - Our Guide

A common misconception is that buying a home when your single can be too much. However, statistics say otherwise, and in 2016, more people are living alone. With that, the number will continue to grow as the average household shrinks, and as the number of one-person households increases, so does the average homebuyer.


Even if more single people buy homes nowadays, it is undeniable that the financial burden you'll experience when purchasing a home can be challenging to deal with on your own. Because of this, it's always a good idea to ask for assistance from the best real estate agent in the city to help you find affordable housing.


If you're planning to buy a home soon, we've got you covered. Here are our top three homebuying tips if you're single and ready to purchase your own home. Let's get to it!

Consider your Lifestyle

Buying a house is a huge milestone, and probably one of the most important financial decisions you will ever make. Before scouting for a home, you need to consider what type of lifestyle you'll have and what the home will bring into your life.


Though putting down the cash and choosing to buy your dream home might be the easiest option, you should know that doing this may give your more problems because maintaining a house that big could pose a bunch of financial issues for you.


So, for now, it's best to buy a home that meets your current needs but also allows space for you to grow.

Understand How your Finances Move

When you buy a home, this will mean that your real estate agent and lender will examine your finances meticulously. This is because your lender would want to know if you have a stable job that will allow you to pay for your mortgage without any problems.


To do this, make sure that you have an active job to make your income as predictable as possible. Besides that, having a co-signer, such as your parents, will guarantee your mortgage's approval.


Besides your mortgage, you'll need to consider other expenses like debt repayment, renovations, maintenance, taxes, and credit scores, all of which could limit your budget. So before looking for a home, keep your finances in check to avoid any financial burdens in the future.

Work with the Right Real estate Agent

One of the best ways to find the perfect home for you is to work with the best real estate agent to guide you through the whole process. You should know that every real estate agent has their specialties, and the challenge here is finding the right one that fits your lifestyle.


When you work with the right real estate agent, you'll go through the whole home buying process without missing any steps, and in no time, you'll find your ideal home.

Conclusion

There are several tips that you need to remember when purchasing a home on your own. But by remembering these top three tips, and working with the best real estate agent, you'll breeze through the whole home buying process, and you'll find yourself moving into your new home right away.


If you're looking for the best real estate agent in town, look no further because I can help you with all your real estate needs. I am a real estate agent who buys and sells residential, commercial, and farm real estate. Get in touch with me today!

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