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Biggest Mistakes Buyers Make in a Hot Seller’s Market

Reblogger
Real Estate Broker/Owner with DeLuca Real Estate CaBRE#01364722

I found this to be an excellent source of information and it travels across all markets.  In Monterey County, inventory is low and buyers are getting frustrated with losing to others.  Please take this information to heart, if you follow these guidelines, you will have more success at getting your offer accepted.  Please also note that your Agent is doing their best to represent you.  If you keep losing out to other buyers, it is due to the climate of the market, not your Agent.  Lots of well qualified buyers, cash offers, so there is ALOT of competition.

HOW TO BE SUCCESSFUL IN MAKING OFFERS

HOW TO GET A MORTGAGE LOAN

Original content by David Grbich BRE# 01708749

Home Buyer Keys to SuccessIn the current seller’s market that exists in many parts of the country, buyers need to perform near perfectly to attain the home of their dreams. In South Orange County where I am a real estate broker, many of the best new listings that come to market are receiving multiple offers . . . and in just a few days on the market. So what can you do as a buyer to enhance your odds of getting your offer accepted?

 

1)      Get Serious and Work with a Buyer’s Agent – while this sounds like a given, many buyers are casually looking and only get serious when they see a home on the internet and start their quest to buy that home from whatever agent they can find. By the time they get mobilized the home is gone!

 

2)      Get Ready to Buy – be sure to get prequalified or better yet preapproved for your loan. This eliminates any surprises and demonstrates to sellers that you are serious, qualified, and able to close. Have your proof of funds ready to show which is often required in California.

 

3)      Operate with a Sense of Urgency – have your agent set you up a new listings alert and when a hot property comes to market moving quickly is extremely important. If a listing comes to market on a Wednesday, waiting until Saturday to see it because you want to watch the Olympics is a bad tactic. Always assume that other interested buyers are seeing the home on day 1 and making an offer on day 1!

 

4)      Make Clean Offers – offers that are not clean result in delays – delays results in more buyer offers – multiple offers drive prices up and probability of getting your dream home down. If there is something specific that the seller is looking for in your offer do everything possible to accommodate it.

Clean Home = Clean Offers

 

 

The competition to buy homes is very high as a result of low inventories and low interest rates. By avoiding these types of mistakes that other buyers are making, you greatly enhance your chances of becoming a new home owner in the near future! If you are looking to buy a home in Orange County or the San Juan Capistrano area I would welcome the opportunity to work with you.

 

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David Grbich | Broker - REALTOR® | 949-500-0484

DRE #01708749

 

 Please visit my website www.FindCARealEstate.com to Search Orange County Homes for Sale

 

San Juan Capistrano Real Estate | San Juan Capistrano Homes

David Grbich is the Broker Owner of Ventana Coastal Properties, a leading real estate brokerage serving the needs of Orange County buyers and sellers. Orange County real estate experts serving Aliso Viejo, Costa Mesa, Coto De Caza, Dana Point, Huntington Beach, Irvine, Ladera Ranch, Laguna Beach, Laguna Hills, Laguna Niguel, Lake Forest, Mission Viejo, Newport Beach, Newport Coast, Rancho Santa Margarita, San Clemente, San Juan Capistrano, Talega, Tustin and surrounding areas.

 

 CDPE - Orange County Short Sale Agent

Comments (2)

Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

I still have buyers calling who have not talked about financing and want to view homes.  Our policy is do not show unless cash offer or pre-qualified.  We learned this the hard way a long time ago.

Aug 12, 2012 03:00 AM
Leslie DeLuca
DeLuca Real Estate - Monterey, CA
No One Knows The Monterey Peninsula Like DeLuca

Exactly why I re-blogged this.  I was just about to write a similar blog, because I have been getting calls from "buyers" on my listings and they are not pre-qualified.  I will not show a property to anyone who does not have a pre-approval letter in their hand.  I hope all Agents follow the same guidelines as it is a waste of everyone's time if one does not even know how much house they can afford.  I re-blogged this because it is great info and I could not have written it any better.

Aug 12, 2012 04:10 AM