Buyers have much to choose from and the offers are being made. There are several things a buyer can do to help them know if the property they are making an offer on is the one they will get.
Make sure to know exactly what you can afford. Even though you might be pre qualified for a certain amount, you need to consider your monthly costs beyond those that are set on a regular basis. Gas for your vehicles, food, heating fuel, medical costs, auto maintenance, etc. You don't want to get in over your head. Remember the home which is a short sale or bank owned might be at a lower purchase price, but the taxes per year aren't. Can you afford that property in the long run?
When you are searching for that Realtor to find the property you know you want, make sure he/she hears what you are asking for. Let your Realtor know that is the person you want to work with and have a buyers' agreement between you both. This way the Realtor is to give you full fiduciary duty, help you make the right decisions for you, get you through the process from search to closing in the least amount of stress as can be done. Your Realtor is your reference point.
Remember due to fair housing, your Realtor can't give you information on the surrounding neighborhood, school systems, or public safety issues. That is the buyer's responsibility. Most of the answers the buyers are searching for can be found on the internet.
When searching for that home know what is the minimum you wish to own. It might mean a three car garage, four bedrooms, family room, finished basement, perennials gardens, water view, water frontage, etc. The inventory for what is for sale is enough to be able to locate that special place. If, however, you find your qualification for a loan doesn't meet the amount needed for what you are looking for the where can you compromise? Remember the more parameters you place on what you are looking for narrows the search down. That might sound bad, but think of it as not spending time looking at homes that won't work out for you. It might take longer to find that right place but it can happen.
When you find that right place then it's time for the offer. It is important to give the seller the message that you are serious and ready to buy. Counter offers can take place, but don't abuse the option by starting way low, hoping the seller will continue countering. They just might not and then you loose the property you chose. Let your realtor do a market analysis to know what is a sound offer.
Once the offer has been accepted then the work between the selling broker and the buyer's broker starts. It's important to have a Realtor who is a full service broker who can make sure the different tasks needed to be fulfilled prior to a closing are taken care of in a timely manner. There will be a lot of communication taking place. You want to be kept abreast of all that is going on. Remember, this is your purchase!
When it comes time to go to the closing table your realtor will inform you of what you need to bring to the table.
When you get your keys, leave and return to your new property.
Congratulations, you just purchased a new property. ENJOY!
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