Build Buyer Muscle!
Before
you could compete in the Olympics, it's a safe bet that you would want to do
some strength and aerobic training. How could you hope to compete if you weren't
fit for the competition?
Planning to buy a
home? Hmmm. Are there some things you could do to prepare for the event?
What steps could you take to convince sellers you are a sincere, motivated
buyer, capable of purchasing their home?
First, get
your finances in order. Ask the real estate agent to set an appointment with a
mortgage lender. By providing information about debts, employment, etc.,
you may obtain a firm mortgage commitment before ever beginning your home
search. What property owner wouldn't be pleased to know that you already
had loan approval?
Next, when you find the right
home, offer a substantial earnest money deposit. Again, sellers are looking for
the most promising of buyers. Even though they will not receive your deposit
money until closing, they will react positively to your larger deposit offer,
believing you to be a more substantial buyer.
Using
the suggestions above, your purchase offer may be given more favorable
consideration, allowing you to edge out less qualified buyers. Look for other
ways to strengthen your buying position too. Each added benefit to the
seller might increase your chances of "going for the gold!"