AAs we all know, trying to buy a home in Dallas-Fort Worth has been a tough experience, to say the least. The minute a home hits the market, your real estate agent calls and you find a way to see it before 30 to 40 other people do. Most of the time, you are faced with multiple offers (sometimes in cash), no inspection period and / or no possibility of funding.
What can you do to prepare to “win” the home you’ve been looking for this year? Dallas luxury real estate agent Christy Berry offers her expertise with six tips to make it happen.
Tip 1: Work with a real estate agent
Many sales are negotiated off-market due to low inventory levels everywhere. People think that because the houses are “off the market” the seller doesn’t get the highest price, but they usually don’t. Buyers realize this and are prepared to pay a premium well above the asking price.
Tip 2: be prepared to go fast
Homes are trading at lightning speed and usually within the first two days of being placed on the market. Sellers don’t want to leave their homes for days and don’t have to worry about the speed of the market. Don’t think that you have three to five days to see it once it hits the market, because any good ad will surely be under contract already.
Tip 3: Be prepared to offer more than the asking price
As they say in California, the asking price is only the starting auction. For better or worse, this has slowly become the truth in DFW now too. This is generally the case for move-in homes with little interior improvement compared to a home that needs a lot of work to fix.
Tip 4: Prepare your prequalification letter with a lender
When an offer is submitted, a prequalification letter will need to be submitted with it for the property. It is a one-page sheet that lenders can quickly write; make sure your lender can do this on weekends based on the initial information you submit. If you’ve done a pre-approval, which is a bit more personal and includes financial information, your lender may tell you that you can waive the possibility of third-party financing, which is a plus for the seller. .
Tip 5: Have a personal letter written
I’m a big believer in “making it personal” when submitting an offer to the seller. Attaching a photo of you and your family lets the seller and their agent know you are serious and explains why their home is the one for you and your family. He has to define what makes the house special and give the seller a mental picture of passing the keys from his family to yours.
Tip 6: Don’t judge a book by its cover
Pictures are worth a thousand words, but if a home hits the market in the area you are looking for and the pictures aren’t great, don’t dismiss it right away. It could be a lot better or worse than you thought, but by refusing to see it you might have missed an opportunity. Those bad photos can work in your favor. If there are no photos at all, you can probably ignore them, unless you’re interested in buying a bundle.
Contact Christy Berry today to help you get ahead of the competition in 2022.
Do you have a real estate question for Christy Berry? Submit them to [email protected] for the chance to have your question featured in this monthly series.
To learn more about Christy Berry, check out her website.