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How to Show Sellers you’re Serious about Buying

Posted by VIP Realty on Tuesday, April 20th, 2010 at 9:30am.

As a buyer, you may think you are in the driver’s seat, especially given the fact that many industry experts refer to this type of market as a “buyer’s market.” However, you may not always have the perfect case scenario in your back pocket when it comes to buying a Bexar County property. In fact, you might just find yourself in a situation where you must prove yourself to your seller.

The bottom line is that the more prepared you are, and the more you show your sellers (and their agent) that you are prepared and serious about purchasing a Bexar County home the more likely you will be able to negotiate a great deal on a great home. How to Show Sellers you Mean Business

  • Get preapproved – One of the best things you can do before you start home searching is to head to the lender of your choice and get preapproved for a home loan. In many cases, agents will not even want to show you a home if you’re not preapproved and, in the case of negotiating, you will have little wiggle room if you don’t come armed with a preapproval letter. For example, if you put an offer in on a Bexar County property, and another couple does the same, but is preapproved, the seller will likely entertain the other couple’s offer more seriously. Simply put, you can save yourself a lot of time and energy if you simply get your preapproval letter before you begin the home searching process.
  • Secure a Qualified Real Estate Agent – A good real estate agent is worth his or her weight in gold when it comes time to negotiating. Do yourself a favor and find an educated, qualified real estate who can help you throughout the entire home process, from choosing the perfect home and making an offer, to negotiating and closing. A qualified real estate agent will have a good idea regarding home values in the neighborhood, thereby guiding you in the right direction when it comes time to making an offer.
  • Make a Fair Offer – If you find a home that you love, don’t insult the homeowners with a low ball offer, unless it is absolutely appropriate for the situation. Instead, do your homework and decide how much you think the home is worth. Most sellers will not approach you as serious buyers otherwise, so take your time and only enter a realistic offer.

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