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How to be a Competitive Buyer

Realtor tip of the week –
It’s a highly competitive housing market out there right now and
buyers need to know how to make the best offer in their favor.
Here’s a couple tips to help set your mind right when it comes to negotiating,
get your offer on the table and win the home you want.
  • Listen to your Realtor®: Yeah you. That means listen, don’t be stubborn or listen to cousin Susie or Aunt Karen. Your brother might have bought a home with a better price or better interest rate but guess what, the market is constantly evolving and no two purchases are the same. Your Realtor knows how to be competitive in the housing market, its our job to know this.
  • Understand your finances: Know how much you can and are willing to spend. Also understand how far your money goes in the current Alaska home market. Know your loan program, your down payment requirements, the earnest money required and what closing costs you’ll need to prepare for to purchase the home.
  • Be ready to make an offer FAST. In this market, good homes aren’t lasting on the market and if you wait to make an offer, chances are you’ll might miss out on it. The age old saying amount Realtors – You can sleep on it (thinking about it) or you can sleep in it (make the offer and get it).
  • Make a fair offer, don’t lowball the seller: If you make a lowball offer, chances are it may offend the seller and they won’t even consider your offer. And why should they in a competitive market where they most likely will have multiple offers to choose from? Your Realtor can do cost comparisons of the current price of homes in the area. Be prepared to pay closing costs and offer the sales price or a little more. It’s good to have a talk with the lender and see what they can do to help with closing costs and get the best rate for your offer.
  • Be flexible: This is the most important tip. Don’t be stuck on a set price or “put your foot down” on the offer request. In a competitive market, be willing to give up a little to get the home you want. In today’s market, be flexible because you’re competing with other offers and other buyers who are willing to forgo wish list items just to get the home.
Ultimately Realtors want you to be happy. If you’re not happy, we can’t be happy. So if you want the home and you want to be happy, take our tips into consideration and let’s go home shopping!
907.644.4663 (HOME)
751 E. 36th Ave Suite 104, Anchorage
(close to Moose’s Tooth)

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