Chris Estrada

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Making an Offer in a Competitive Market


So, imagine finding a home you love, making an offer, and then finding out there are other competing offers on the table. This has been the norm, in recent months, when negotiating on a property.   


If you’re looking for a property in a competitive market, it is likely that there will be multiple, or competing offers. Even just one other offer can create the risk that you’ll lose the home. So how do you make sure your offer is enticing enough to win over the seller? Here are some ideas:



• Don’t make a low-ball offer. If you do, it might be dismissed and you probably won’t get another chance to bid — especially if the other competing offers are near, or over the list price.


• Have a pre-arranged mortgage and include that with your offer. This reassures the seller that there won’t be any money issues. (Most lenders will provide you with a pre-arranged mortgage certificate for this purpose.)


• Go in with a price high enough that the seller will be interested, but not so high as to be leaving your money on the table. This is tricky and requires a savvy knowledge of the current market.


• Have a professional real estate agent present the offer on your behalf. A great realtor will know how to do so professionally, and in a manner that gives you the best chance of getting the home, presenting your offer in it's best light. 


In a competitive situation, working with a realtor who is an expert on the local market — and a skilled negotiator — is crucial. Looking for a like that? Give me a shout. 


All the best,



Chris.

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How a Home Inspection Helps You
Whether you're considering buying a particular home, selling your current
property – or both – a home inspection can help.
A home inspection is an inspection by a qualified professional who takes a
close look at every aspect of a home – structure, wiring, plumbing, and
more – and identifies issues you may not have noticed yourself.
For example, a home inspection can reveal that a furnace will need to be
replaced soon, or that there is a water leak into the basement that needs to
be fixed.
You'll definitely want to get a professional home inspection before you buy a
particular property. That's why most offers to purchase a home are
conditional upon passing a home inspection. (The last thing you want is to
buy your dream home only to discover that the wiring needs to be updated!)
You may also want to get a home inspection on your own home before you
list it for sale. A certificate from a qualified professional that states that your
home passed inspection will make your property more attractive to buyers.
Many reputable home inspectors are members of a professional industry
association.