Homebuying Tips: Consider the Property Seller's Perspective

by Tammy Lord 01/14/2019

As a homebuyer, you may want to consider the seller's perspective before you submit an offer to purchase your dream house. That way, you can boost the likelihood of receiving an instant "Yes" to your homebuying proposal.

Now, let's take a look at three tips to help you analyze the seller's perspective.

1. Review the Prices of Comparable Homes

Once you find your dream home, you may want to take a look at the prices of comparable residences in the same city or town. This housing market data can help you narrow the price range for houses in a particular area.

With insights into the prices of houses that are similar to your dream home, you can put together a data-driven offer to purchase. Perhaps best of all, you can avoid the risk of submitting a "lowball" homebuying proposal that misses the mark with a home seller.

2. Assess the Housing Market

The current state of the housing market may have far-flung effects on how much you should offer to pay for a residence.

For instance, in a buyer's market, there is an abundance of available houses and a shortage of buyers. This often means buyers can browse dozens of outstanding houses and won't necessarily face steep competition to acquire the right residence at the right price.

On the other hand, a seller's market favors sellers. It generally features an abundance of buyers and a shortage of top-notch residences. Therefore, if you're searching for a home in a seller's market, you may need to submit a competitive offer to purchase to secure your dream house.

Review the housing market closely so you can differentiate a buyer's market from a seller's market. If you find houses are selling quickly at or above sellers' initial asking prices, you likely are operating in a seller's market. Or, if you find houses linger on the real estate market for many weeks or months and sell at or below sellers' initial asking prices, you may be working in a buyer's market.

3. Collaborate with a Real Estate Agent

A real estate agent is a homebuying expert who can provide you with housing market insights that you may struggle to obtain elsewhere. Plus, he or she can help you evaluate the seller's perspective so you can submit a competitive offer to purchase the home of your choice.

Let's not forget about the assistance that a real estate agent provides throughout the property buying journey, either. A real estate agent can help you hone your home search and find your ideal residence in no time at all. Furthermore, if you have concerns or questions at any point during the homebuying journey, a real estate agent is ready to address them.

Want to purchase your dream house at a price that matches your budget? Consider the seller's perspective – you'll be glad you did. If you review the seller's perspective, you can craft a competitive homebuying proposal and move closer to acquiring your ideal house at a budget-friendly price.

About the Author
Author

Tammy Lord

 

HI. MY NAME IS TAMMY LORD. HOW CAN I HELP YOU?
Buying or selling a home can be the most emotional financial decision of our lives. I have over 24 years of experience as a Realtor in Michigan. I have closed thousands of homes in my career and can assist you with Residential, New Construction, Waterfront, Vacant Land and Commercial properties in Genesee, Oakland, Lapeer, Livingston and Shiawassee Counties as well as any other areas in Michigan. Although I am very proud of every home I have ever helped someone buy or sell, I am most proud of the number of clients that have asked me to assist them time and time again. I have clients that I have helped buy and sell homes 2, 3 and even 4 times. I have had parents recommend me to their children to help buy their first home. Couples refer me to neighbors. Others have recommended me over the internet and in reviews. I have been honored to help families with their loved ones estates. A referral is the highest compliment that I could receive and I am grateful for each and every one of them. Throughout the years of various challenges that can arise when buying or selling a home, my philosophy has been very simple and unwavering. Honesty, patience, and availability.

Buying or selling a home with an experienced Realtor is an important partnership, and that means we need to be in it together. I am committed to that partnership 24 hours a day, 7 days a week, and 365 days a year. I'm always just a phone call away.

"The lighthouse served several purposes for ships over the ages. The first was to warn of dangerous waters…another was to let weary sailors know they were safe and that they were HOME."

I hope I can be your beacon. Give me a call at 810-397-3803 so we can discuss your needs. www.tammylordsellshomes.com