It’s no secret that the University Hills real estate market is competitive these days. Not only is this a great area in which to live, but there are a lot of people searching for homes—and there is never enough inventory to go around. Multiple-offer scenarios are not unusual for homes all over the Denver metro area. What can you do to make your offer the one the sellers can’t wait to accept? We’ve included some tips here on making your best offer so you can buy your dream home.
Get Preapproved for a Mortgage Beforehand
Unless you are one of the lucky ones who will be paying cash for your next home, make sure you get preapproval from a lender before you even start house hunting. If you find your dream home only to discover that you cannot afford the payments, you are just wasting your time. Furthermore, your offer will be that much stronger if the sellers know you are already preapproved for a loan; they’ll know that financing for the deal is likely to go through. Read How to Get Preapproved for a Mortgage
, an informative article by the people at Credit.com.
Leave Some Room for Negotiation
Unless you know there are already multiple offers on a home—in which case you should offer the max you could afford to pay—leave a bit of room for negotiating the final purchase price. For instance, if you are searching for homes in the $600,000 to $650,000 price range, don’t offer $650,000 immediately. Offer a bit less to leave yourself a bit of wiggle room for negotiating with the seller.
Listen to Your Real Estate Agent’s Advice
Buying a home is a complicated process, and when you have a real estate agent in your corner, it’s important to listen to their advice. For example, if you want to make a lowball offer on a home and your agent advises against it because he or she feels you will insult the seller—listen to what your agent has to say. If the seller feels insulted or believes you are not serious, they might completely ignore your offer altogether. The home you think is “the one” will probably go to another buyer who makes a better offer. Real estate agents know the market—and they know about the buying and selling process. Heed their advice and you’ll save everyone a lot of grief.
For more information on the University Hills real estate market, read this snapshot of the latest market trends
If you’re ready to move to a great neighborhood, such as University Hills, Elevation Realty can help. The University Hills area is great for singles and families, as well as those who just want to live near the University of Denver. It’s an easy 10-minute drive from downtown Denver, and it also offers easy access to the light rail. Contact
the Elevation Realty team when you are ready to find your dream home or give us a call at 303-579-3566 to begin your search.