In this current market, selling or buying a home requires a little extra work. Those who are looking to buy or sell a home should obtain a competitive edge rather than go the traditional route. Here are some quick advice for Sellers: 1. Get Competitive and Sell Quickly.
According to Barbara Corcoran, founder of real estate firm the Corcoran Group, sellers should underprice their homes from the beginning
. We know, it seems counterintuitive, especially at a time like now when demand is so high. But if you list your home for at least 10% less than it's worth, you're more likely to sell it for 10% more. Not only will potential buyers know that it's underpriced, but they will also fall into a bidding war with other buyers. 2. Try sweetening the deal a bit.
One of the negative outcomes of our competitive market is that some buyers feel rushed during the decision-making process, sometimes resulting in cold feet and backing out. By offering an incentive to follow through with the purchase, buyers may feel that they're making a good, thoughtful decision. A transferable home warranty
costs about $300-$400 for a one-year policy. This will cover appliances that fail such as refrigerators, microwaves, etc. Quick Advice for Home buyers: 1. You're more likely to enter into a bidding war in this market.
And when you do, make sure to be strategic. Other buyers may already have their paper work and deposit ready at the time of the showing. So what can you do at this point? Go as high as you'll ever go in terms of price. If someone outbids you, then you'll know you've done your best. 2. Get your paperwork ready.
Traditional methods of home searching doesn't exist right now. And what that means is potential home buyers should try to obtain a "pre-approval" letter from a lender to present with their next offer. It might make the seller feel a bit more at ease to know that you're a serious applicant.