HOW TO GET THE BEST DEAL WHEN BUYING A HOME

As an experienced, exclusively homebuyer Realtor? I’ve observed that most agents and their buyers focus mainly on the purchase price component of an offer to buy.

However, there are other key components besides the purchase price that as a Buyer’s Agent I stress to my buyer clients ?be considered and presented as well to sellers to get the best deal.

Purchase price

The purchase price?is the component that ?agents and buyers have been conditioned to focus on.

However, ?it’s important to realize how purchase prices are affected by current overall market conditions and the timing of the property’s days on market.?

The purchase price of a specific property is directly related to its days on market.

It’s difficult to negotiate the seller down on the price if the home just went on the market, and had multiple showings on the first day.

On the other hand, if a home has been on the market for an extended period of time and there are no other imminent offers, then the situation warrants negotiating harder and to be strategic in presenting the price offer.

Contingencies protection

It’s important for the buyer to know how any contingencies included in an offer are utilized to protect them and ensure that everything is as it seems.

I explain to clients what each of the contingencies are and how I ensure that they are being provide properly protected. These typically include a home inspection contingency and a financing contingency (if there is one).

The home inspection is to make sure the home is structurally sound and that all mechanical features of the home are performing as designed.

The inspection may mention cosmetic deficiencies, but the contingency is only regarding the structural and mechanical integrity of the home.

The financing contingency means the contract is contingent upon the buyer qualifying for a necessary mortgage loan amount.

Part of the financing contingency is that the home must appraise at, or above, the agreed upon purchase price. The appraisal also protects the buyer from overpaying for the home.

Earnest money deposit

Earnest money is percentage of the purchase price, which is deposited up front, and applied at the time of closing to the purchase price or closing costs.

The buyer can get their deposit back if they don’t proceed with the contract as long as they are operating within the terms of the contract.?

The earnest money deposit can be increased to strengthen the offer. If it’s an investment property or home purchase with no contingencies, I often encourage the buyer to make a large earnest money deposit to set the offer apart from other potential offers.

Settlement date

The settlement date can be utilized to increase the attractiveness of an offer for the sellers.?

Sellers may have certain life events that require closing sooner or at a specific date, which could be more valuable to them than money. This could be a job transfer, children starting school at a certain date, or their next home not being available until a certain date.

As a Buyer’s Agent I ask listing agents what’s behind the seller’s moving, and accordingly can write acceptable price offers lower than other offers the seller received.

Also, homes that are vacant or that are not being lived in typically want to close as quickly as possible.

So, by shortening the closing date, the offer may? more attractive to the seller.

Sometimes giving the seller what they need on the settlement date can help my buyer clients get more of what they want on the purchase price or terms.

Closing costs

Most buyers have heard the term closing costs, but are not understanding of what’s involved, the amounts, and who pays what, buyer or seller? Few agents take the time to explain closing costs to buyers.

Closing costs are the fees that the closing agent charges at the time when a real estate transaction is completed. These costs can vary depending on the location and the purchase price of the home.?

In Florida, the average closing costs can amount to about 5-10% of the purchase price. Usually, the seller and buyer each pay a portion of these costs. In representing the best interests of buyers, I look for opportunities to negotiate certain closing cost amounts assumed by the buyer.

Closing costs amounts vary depending on the location and the purchase price of the home, but generally, there are a few standard costs including title insurance, recording fees, and closing fees that a buyer can expect to pay.

I work to help ensure that the closing goes smoothly, and that all of the buyer’s interests are protected.

Book a best deal strategy session

Feel free to contact me for free strategy session and more information about how I as an experienced Buyer’s Agent work closely with buyers to fully cover all the components of purchase offers, and get the best deal.

I cover Southwest Florida communities located in Naples, North Naples, Bonita Springs, Estero, Miromar Lakes, Fort Myers, and other communities located throughout Collier and Lee Counties.

To view homes available in these areas, visit my website: findswflproperties.com

With my local real estate insider knowledge, I’ll help you strategize a realistic plan, find a property that meets your budget and criteria, negotiate with listing agents on your behalf, and help you avoid costly homebuying mistakes.

Let me guide you through the entire process to secure your Florida dream home.

To schedule a free, no-strings-attached, consultation (in-person, by phone, or virtual), call/text 239-850-1650 or email [email protected]

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