7 Home Buyer Tips from your NJ mortgage company
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Your New Jersey Mortgage Company has some housing tips for home buyers looking to purchase a home this spring. Although getting a new home is an exciting, it can be a bit nerve racking. Buying a home is not easy, but your NJ mortgage company is here to help! Make buying your home a positive experience by being prepared and avoiding common buyer mistakes. Contact your New Jersey Mortgage Company today for more details.7 Home Buyer Tips As We Move Into Spring
Here are a few tips to make sure you get the home you have fallen in love with.
As we move into Spring and the Spring buyers market, inventory remains low. We anticipate more homes coming on the market, but we also anticipate more buyers out searching for their perfect home. Competition is great for sellers but it can prove very frustrating for buyers. Multiple offers may again be a problem faced by buyers. These tips worked in the past and will continue to work in the future. Your agent may not be aware of all of them so if you anticipate buying in the future then save these in order to structure the winning offer.
A well priced home in good condition will attract offers. How does a buyer structure or position themselves so that they are the offer chosen? Here are a few tips to make sure you get the home you have fallen in love with.
1. Make sure you offer is reasonable. If you know there are several offers on a home, you must be full price or close to it. Make sure you provide a pre-qualification letter with your offer.
2. Increase your earnest money. This is a great way to show your commitment. You will get your earnest money back if you terminate due to inspection or if you do not qualify for your loan and you have a financial contingency. If the purchase is completed your earnest money will be credit to you at closing.
3. Price is not always the number one reason the seller selects an offer. Keep the terms of your offer simple. When a seller is selecting an offer to accept or counter they want to know exactly what the buyer is asking them to do. They do not want to get bogged down with special stipulations and request for the seller to do things.
4. Contingencies scare sellers. If you can avoid a contingency in a multiple offer then leave it out of your offer. As an example, if you are a buyer that is buying with a contingency on your home closing and there are multiple offers then take the contingency out but leave the financial contingency in the contract.
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