Searching for a home is an exciting process, but in a competitive real estate market, it’s important to be able to act quickly when you find the home you love. At Fairway Independent Mortgage Corporation, we want to help ensure you are prepared to make your best offer on a house, through the following:
TEAMWORK – Having a trusted real estate agent is key to writing a successful contract, while working with a mortgage planner on your pre-approval* can make all the difference in whether an offer is accepted. A pre-approval letter shows the sellers that you are qualified and serious about purchasing their home. This will give you an advantage over other buyers, because the sellers will know you can afford the amount they are seeking.
RESEARCH – When the time comes to make an offer and negotiate the best deal, the research your real estate agent will do for the property and the area is critical. Take time to compare the price, quality and features of the other homes you are considering in the area.
NEGOTIATION – Your purchase offer will contain all of the items that will act as a guide for the final agreement. This includes the purchase price offered, the down payment and other contingencies. If the seller likes almost everything and wants to further negotiate the terms, you will likely receive a written counteroffer with changes requested by the seller. Each time the buyer or seller makes changes to the terms, the other party has the option to accept or reject. Once either party signs an acceptance of the proposal, the document becomes a binding contract.
Purchasing a new home can be both exhilarating and a little nerve-racking, so my team here at Fairway is here to answer any questions you have. If you don’t have a real estate agent, I would be happy to suggest the name of an excellent agent who can help you. Call me at your earliest convenience, and we will work together to make your dreams of owning a new home a reality.
*May not be applicable in the state of Texas. Please check with your mortgage planner for more details about programs that are available for homebuyers.Tags: First-Time Homebuyer, Homebuying