The real estate market is booming right now, which means investors may be having trouble finding a home at a good price. It may be a sellers’ market, but these homes are still out there—you just have to know how to find them and how to seal the deal when you do. Here are some tips to help local investors shopping on the Goldsmith real estate market:
Don’t rely solely on listings.
Work with a real estate agent who is well connected within the community and has experience working with investors. Why is this so important? Many landlords that have decided to sell their properties never officially list them on the market. They do this so the tenants do not realize that ownership may be changing in the future. To find these off market listings, you will need to rely on your real estate agent to connect you with sellers in the community.
Pay in cash.
If you find a home that you are interested in investing in, make an all cash offer if it’s possible. Cash offers are attractive to sellers who want to quickly close the deal without worrying about a buyer’s financing falling through. Even if there are other buyers interested in the home—and willing to pay more—you may win it by making an all cash offer.
Be willing to put in work.
In general, buyers are interested in move-in ready homes, so if a home needs a lot of work, there probably won’t be a lot of other buyers to compete with. If you’re interested in investing in a home, you may want to look at these listings. But, be sure that you carefully calculate how much it will cost to improve the condition of the home. Consult with a contractor who can give you estimates of the work that needs to be done before you make an offer.
Be the first…
Buyers who make the first offer on a property are often the ones who end up getting the home, so move quickly if you find a property that seems like a good investment. Buyers who are eager to find a home don’t wait until the weekends to see a listing—make time during the week if possible. Read 4 simple tips for finding incredible real estate deals
…Or the last.
If a home has been on the market for a long time, the seller will probably be more willing to negotiate on the price. Look for homes that have spent months on the market and submit low offers. You probably aren’t the first buyer to submit an offer, but the seller may accept your offer if he is worried that you will be the last buyer who submits one.
Are you ready to invest in a property in Goldsmith? If so, get in touch with the professionals. Contact Elevation Realty
to be connected to a team of experienced real estate experts ready to help you on your home buying or selling journey.