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What Homebuyers Should Know About Buying Lowry Park Real Estate in a Seller’s Market

July 4, 2018

If you are in the market for a new home, you are probably well aware that it is a seller’s market. Across the Denver metro area, homes that are on the market frequently receive more than one purchase offer. The Lowry Park real estate market is no exception, so if you want to find a home, you need to follow some guidelines if you want to present an offer that is accepted.

Get Your Finances in Order First

Get your pre-approval from the lender before you start looking at homes. If you don’t already have financing in place, you might miss out on a listing putting because you are taking precious time to get the financial end of things in place.

Move Quickly When You Find a House You Like

In today’s hot market, you don’t have the luxury of “sleeping on” your decision. If you find a house that checks off a lot of your boxes, you need to move immediately. Let your real estate agent know right away that you’d like to make an offer. Ask your agent to call the home’s listing agent rather than texting or emailing. A phone call has more teeth and can let the listing agent know you are serious about your offer.

Come in With Your Strongest Offer

Because multiple offers often drive up the sales price of a home, you want to make sure your offer is strong right from the start. You should minimally consider offering the listing price—and you might even want to offer more than the listing price if you are serious about the home.

Write a Letter to the Sellers

People are often sentimental about their homes, and if you write a personal note to the seller about why you want their house, this can often make your offer stand out from the others. For example, empty-nesters who are selling because they intend to downsize might like the idea of another family with children settling down in their home.

Make an Offer Even if the Home Is Already Under Contract

Deals fall through all the time, so make a backup offer even if a home is already under contract.

Consider Leaving Out Contingencies

Most offers have some kind of contingency attached, such as mortgage approval from the bank or inspection approval from the buyer. In a seller’s market, it might make sense to leave the contingencies out—or at least shortening the time involved.

For more insight in waiving contingencies in a seller’s market, check out this moderated discussion on the Reddit website.

When you are ready to purchase Lowry Park real estate in this competitive market, you need the expertise of Elevation Realty in your corner. We can help you find the right home and assist you in putting together a strong offer that will help you come out ahead of the pack. Contact the experienced professionals at Elevation Realty team when you are ready to find your dream home; or give us a call at 303-579-3566. Let’s get your search started!