When you’re looking for a home in Shavano Park / Sellers’ Market

• Not making a good offer

The need to buy what we want for as little as possible is part of human nature. So, when most people see the listing price of a home, they automatically say we can get it for less. Offering lower than asking price is a strategy, especially if the house is overpriced compared with other properties in the area, but trying to get a deal when you’re in a seller’s market might not be the best tactic.

• Over analyzing listing price

If you wait too long, you risk losing the home. Once you’ve made your check list… type of home, the location, and your price range, and finally find a home that meets your qualifications, don’t wait! Be prepared to move quickly by having your finances in order.

• Not being preapproved for a loan

The only way to prove to the seller that you’re a qualified buyer is to be prequalified from a lender. Prequalification means that you simply told your lender your financial story by submitting a mortgage application, complete with providing verifying documents. Being able to present this shows the seller that the buyer has already set the wheels in motion and is serious about getting the deal done.

• Bidding wars

No buyer wants to be involved in a bidding war for fear of possibly going over budget. We say set your search below your max budget to leave room in case of a bidding war.

• Learn from mistakes

There’s no shame in losing a bid on a house, but it’s easy to get depressed about the situation if your offers keep getting declined. Learn from your last transaction and be ready to attack the next opportunity.

If you or anybody you know wants to live the Shavano Park Real Estate dream please let us know.  With our in-depth knowledge and expertise, we can negotiate any deal.  Let us help make your move an enjoyable one.