If you're looking to buy a property anywhere in the Dallas area in 2015, I've got a few important tips to help you succeed.
- Get a good agent. In our hot seller's market, it doesn't take a great seller's agent to put a house in MLS and get offers on it. But not every agent is an experienced negotiator who knows how to effectively get the deal done. You need a realtor who can act quickly, efficiently and knowledgeably - and who has a good working relationship with other agents to get the job done.
- Get pre-approved for your mortgage or pay cash. The seller wants to know that you've got the money (or access to money) to buy the house. A pre-approval letter should accompany your offer. It tells the seller that your lender has looked at your credit information, verified employment and other information to actually start the mortgage process.
- Be ready to act quickly. When you find a property that you like, make an offer. Those who hesitate will likely miss out or find themselves in a multiple offer situation. Agents in the know are finding out about properties before they hit the market. And we're watching several times a day for those that go immediately into MLS. Seems like I'm checking MLS more than a bored teenager checks Candy Crush.
- Understand the seller's motivation. Your agent should ask the sellers agent what their needs are so your offer can be structured in a way that is most appealing to a seller. Do they want to close quickly? Do they need some time to give you possession of the house? These are all things that can be important when a seller considers offers.
- Make your offer as appealing as possible. You may find yourself in a multiple-offer situation so make yours more desirable from the start. Can you make a large down payment? Reduce the number of contingencies? While a sweet letter to the seller might help - money talks louder. Forget about low balling in today's market. Expecting to win in a multiple offer situation with a bargain priced offer is unrealistic. [where: 75230]