4 Tips for Making the Best Offer on a Home in the Fort Lauderdale Area
Do you plan to purchase a home in the Fort Lauderdale area this spring? Though the market is more balanced than it was at the height of the pandemic, it remains a sellers' market. So, when you find the home you want to buy, keep these four tips in mind to make the best offer possible.
1. Lean on your Fort Lauderdale Realtor for Advice
Rely on an agent who can help you achieve your goals. According to Bankrate:
“. . . select the best real estate agent for your needs. They will be a critical part of your home buying process.”.
As Realtors in Fort Lauderdale, we understand the local market. We are aware of what has worked for previous buyers in the area as well as what sellers may be looking for in an offer. It may appear simple, but catering to the needs of the seller can help your offer stand out.
2. Know your Budget
Understanding your budget is especially important right now. According to Sandy Higgins, Senior Wealth Advisor at Capstone Financial Advisors:
“Understand your current budget … what are your expenses, how’s your spending, would you need to make changes?”
Working with a lender to get pre-approved for a loan is the best way to understand your numbers. It boosts your financial confidence and demonstrates to sellers that you're serious. Doing this provides you with a competitive advantage.
3. Consider everything before making an offer.
Today's market isn't moving as quickly as it was during the pandemic. That means you may have a little more time to think before making an offer. Danielle Hale, Chief Economist at realtor.com, says:
"In general, you should have more time to make an offer, though this is not a guarantee. If you're on the fence about a home or its asking price doesn't quite fit your budget, keep an eye on it, and if it doesn't sell right away, you may have some negotiating room with the seller."
While staying on top of the market and being prepared to
move quickly is still important, there may be more flexibility today. As you
search through the market options, feel free to consult with us your Fort
Lauderdale area real estate experts.
4. Collaborate with Your Advisor To bargain
During the pandemic, some buyers skipped home inspections or did not ask the seller for concessions in order to submit the winning bid on a home. Fortunately, the market has changed, and you may have more bargaining power than before. We will assist you in determining which levers to pull when putting together an offer.
When you buy a home this spring, let’s connect so you have the guidance to make your best offer.