"Should I be offering list price on homes that come on the market?" Great question!! My client asked me this and another question today. If you are a frustrated Livermore area buyer read on for the answer.
" What a buyer offers should always depend on the situation. If a home is on the market awhile you can offer lower. If it is new to the market, you need to offer nearer or at list price. Any new home that is priced right will attract attention in this market and may receive multiple offers. Just this week I have had clients competing against multiple offers. For homes that are new to the market it is not wise to being offering lower than list price in most situations. If you offer a seller what they want for a reasonably priced home, the faster you get the offer in, the best shot you have at getting a home without having to compete. When you make an offer for less than full price you leave valuable time open for others to come in while the seller gives you a counter offer. Most buyers who are frustrated at having their homebuyer experience take too long are guilty of offering too low for homes unless they are just not writing offers."
You mentioned waiting to get financing in order. I would recommend doing it now. From application to desk top underwriting approval, which is what you want, takes about 1 week. If you find the home you love and can't get a pre-approval letter in time, you are going to miss out on the home and be disappointed. My job is make sure that does not happen. This is the first step to the home buying process and should really be done before physically shopping for a home. The actual approval letter and your preferred budget, will help me to help you narrow down your search.
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