Numerous desperate homebuyers are making a bid for a small amount of inventory in today's housing market, while builders are building new homes at an astonishingly slow rate. As a result, demand for homes in southeast Florida is remaining high and prices are not decreasing—instead, they are staying the same or even rising in some cases.

Homebuyers must now rely on professionals with up-to-date knowledge of the modern housing market as the home-buying environment has changed. Realtors like myself take satisfaction in conducting research and gathering daily data about our community to assist clients in making the best choice. As a result, we analyze a brand-new collection of insider strategies that can give you a competitive edge in today's industry. We, as real estate agents and brokers, employ the kind of information necessary to locate and secure a good offer right now in order to keep you informed about the latest developments.

Homebuyers must now rely on professionals with up-to-date knowledge of the modern housing market as the home-buying environment has changed. Realtors like myself take satisfaction in conducting research and gathering daily data about our community to assist clients in making the best choice. As a result, we analyze a brand-new collection of insider strategies that can give you a competitive edge in today's industry. We, as real estate agents and brokers, employ the kind of information necessary to locate and secure a good offer right now in order to keep you informed about the latest developments.

Increasing your earnest money Although the vast majority of sellers prefer cash offers, let's face it: most property buyers can't afford that. Even so, your earnest money—the 1% to 3% normally put down after an offer is accepted—can increase the allure of a financed sale.

By putting down more earnest money and making some or all of it guaranteed, buyers can gain an edge. Yes, this does mean that the sellers keep the money in the event that the contract falls through for any reason at any time. Nonetheless, it gives the impression that the buyer will go above and beyond.

In this market, go above and beyond by obtaining an approval letter, which informs the seller that you were pre-approved for a mortgage. Once your loan application is granted, the lender might create an acceptance letter, also known as a commitment letter, which differs from a standard pre-approval. It normally includes information on the loan's type, size, conditions, and interest rate.

Because the house seller has less to worry about, such as your application going into underwriting and falling through, this type of document can provide you with a huge advantage.

Why include a lease-back clause? Sure, when a seller is trying to sell their house, they have a lot of leverage. Yet, after their offer is accepted, they are frequently included in the group of desperate homebuyers and must race against time to locate a new place to live. For this reason, some astute purchasers will sweeten their deal with a lease-back, which entails letting the seller stay in the property for a short while usually 30 to 90 days at a discounted fee or free while they look for a new home.

Being extremely competitive in your search for a home can be aided by including an escalation clause. This addendum to the contract, which essentially includes the initial offer, the amount to be raised above competitive bids, and the maximum amount the buyer can provide, commits you to the price you are bidding while also pledging to increase the amount should the seller get a greater offer.

The cherry on top is having the option to pick which inspections to skip. Although every situation is different, this could be a tactic to prevail in a trying situation. For example, it would be better to skip the examination if the house was built within the last 20 years because most of the mechanical and electrical components, including the roof, are still within the recommended lifespans from the manufacturer. On the other hand, if the house is older, be certain of the dates of the mechanical, electrical, and roof replacements or repairs.

Like this update? As your local real estate professional, I can provide more great tips like this and answer any real estate information questions you may have. Contact me today!

JUAN MESTRE 

REALTOR ASSOCIATE 

RAISING THE BAR FOR REAL ESTATE SERVICES 

CONSIDER: Since I'm not a lawyer but your neighbor Realtor Associate, you should consult an attorney and your CPA before making any decisions.

 If you wish to find your Home or to start your journey towards Home Ownership, Let’s start working together reach me at 305-776-5677 or register at www.juanmestre.com or email mestre.j@ewm.com. 

Sourced and digested from several locations including but not limited to: RisMedia for BHHS.com/blog, EWM Realty & my knowledge