Making a Strong Offer on a Granbury Home

Making a Strong Offer on a Granbury HomeIf you are a hopeful Granbury home buyer looking to purchase your next or first dream Granbury property it is good to know that as inventory remains low competition is still happening between home buyers. This means a buyer wants to come to a home seller with a strong offer so that a seller will accept it. Even in a balanced market, it is always best to present a strong offer as a home seller has the right in any market to refuse an offer.

Some tips on making a strong offer on a Granbury home

Work With a Trusted Real Estate Agent

Work with a buyers agent who knows your goals and knows the Granbury real estate market like the back of their hand. It is not required that you work with a real estate agent to purchase a home, but why not have professional expertise on your side? It would be like having the opportunity to pick a team of players for a tournament and choosing between professional players and amateurs to be on your team. The smart choice is to use the pros. 

A real estate agent knows contracts inside and out and how to negotiate the best terms on their client's behalf. They know your purchasing goals and your home affordability as well as the fair market value of homes. They can help you to make a strong offer and negotiate if needed while helping you refrain from overpaying for a home. 

Know YOUR  Affordable Budget

Before even shopping for homes it is in a Granbury homebuyer's best interest to know what is a comfortable affordable purchase price and what is pushing affordability to stretch your budget. One way to do this is to work with a lender on preapproval and after that preapproval number comes back, calculate ALL of the payments to close on the home purchase to determine if you can truly make those home payments. 

Any financial expert will tell you that you should pay no more than one-third of your income on housing so you are not struggling to make ends meet for all your life expenses. Some experts will advise that this number should only be one-quarter of your income. 

Dave Ramsey, a leading financial advisor says, " To calculate how much house you can afford, use the 25% rule: Never spend more than 25% of your monthly take-home pay (after tax) on monthly mortgage payments. Following this rule keeps you safe from buying too much house and ending up house-poor." 

Knowing this number will help you to know what you can offer for a home. Not only that but you can offer this amount confidently knowing that there is an extremely high chance of your loan being approved because you already talked with a lender. Including the preapproval letter in your offer communicates to the home seller you are a financially solid candidate. 

Don't Low Ball- Know the Market

When deciding just how much money you will write into your purchase offer, it is always best not to lowball, especially in certain market conditions. It can be tempting to offer a lower number and try to get a home for a lesser price, but this will not work in a buyer's favor when inventory is low and more than one buyer is making an offer. 

Make sure you know the market conditions and the desirability of the home you are purchasing. Making an offer that is too low could end up with a rejected offer, no negotiations, just a straight-up no answer from the home seller. It might hurt your chances of making another offer if there are more buyers interested in the home. 

Be Willing to Negotiate- Be Aware of Seller's Needs

When purchasing a home it is not uncommon for a buyer to focus on their excitement and their needs for a home. It can be easy to forget that the home seller is a human with equally important needs, but they have the power to accept or reject your offer on the home you need. Understanding and being sensitive to what the seller needs in the sale transaction can help you gain a reputation and stand out to the seller among other buyers. 

Be willing to be flexible with a closing date to help the seller out. Understand what matters to the seller and be willing to negotiate with the expert help of a realtor to help your offer look more attractive to the seller. Your agent will keep your best interest as a priority while also helping you to work with the seller to get your offer accepted. 

If you are looking for a home in Granbury, I am here to help. I am a local agent with extensive expertise in Granbury real estate. Contact me any time to get started looking for your next Granbury home. 

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