Here's 4 Tips For Making An Offer This Spring

Depend On A Real Estate Professional

Rely on an agent who can help you achieve your goals. As Bankrate points out:

“. . . select the best real estate agent for your needs. They will be a critical part of your home buying process.”

Agents are specialists in the local market. They know what has worked for other purchasers in your region and what sellers may be searching for in an offer. While it may seem basic, focusing on what a seller needs can make your offer stand out.

Details such as a specific closing date, a rentback to facilitate the purchase of the seller’s next home, or even allowing the seller to leave possessions they no longer want can tip the scales in a multiple offer situation.

Understand Your Finances

It's critical to comprehend your budget right now. According to Sandy Higgins, Senior Wealth Advisor at Capstone Financial Advisors:

“Understand your current budget…what are your expenses, how’s your spending, would you need to make changes?”

The ideal approach to comprehend your bottom-line number is to work with a lender so you can obtain pre-approval for your mortgage. This provides you with greater financial confidence and demonstrates to sellers that you're serious. This may give you a competitive edge.

Carefully Consider Everything Before Making An Offer

The current market isn't moving as quickly as it did during the pandemic. As a result, you may have a bit more time to think before making an offer. According to Danielle Hale, Chief Economist at realtor.com:

“In general, you likely have more time to make an offer, although that’s certainly not a guarantee. If you’re on the fence about a home or its asking price doesn’t quite fit your budget, you might want to keep an eye on it, and if it doesn’t sell right away, you may have some room to negotiate with the seller.”

Although it's still important to stay on top of the market and be prepared to act quickly, there is more flexibility today. Rely on your agent's guidance as you explore the possibilities in Maine's shifting real estate market.

Collaborate With Your Advisor To Negotiate

During the pandemic, some buyers waived home inspections contingencies or avoided asking the seller for concessions in order to make the winning offer on a home. Fortunately, today's market is different, and you may have more bargaining power than before. Your trustworthy real estate advisor will assist you in determining what levers to pull while creating an offer.

Let’s Connect

If you plan to buy a home in Maine this spring, let's get in touch to ensure that you have the direction you need to make the best offer. I’m always available to you whether you’re just kicking some ideas around or need to pull the trigger today.