Date Archives: November 2016

The inventory of homes in the Lancaster County real estate market is rising, but the number of homes that are for sale compared to the number of home buyers is still below average.

According to the Lancaster County Association of Realtors president, Lynn Zimmerman, "The limited supply [of homes on the market] in the most popular price points is causing homes to sell very quickly amidst multiple offers and record-setting sales prices."

This gives sellers an advantage over buyers.  When multiple buyers are competing for a home, sellers will likely get full-price offers, and a house may go for more than its asking price. Sellers can often hand pick the offer that suits them the best, and it doesn't always come down to the sale price.

Here are three things we consider when helping our clients write the best possible offers:

1. Choose a local lender: Sellers want to feel confident that your financing is solid. Online or unknown lenders could raise a red flag. We can recommend local reputable lenders.
2. Get pre-approved: There's a difference between being pre-qualified and being pre-approved. Most buyers are only pre-qualified. We can connect you with lenders that will supply a pre-approval letter.
3. Home inspection: If you feel confident in the home's quality, an "as is" inspection contingency may be a consideration, depending on the property and whether there are competing offers.  The "as is" inspection contingency lets buyers determine the condition of a property without holding the seller accountable to cover the cost of any necessary repairs.

The most important thing to remember is to make your best offer the first time. Don't assume you'll have the opportunity to negotiate. If this is your dream house, put all your cards on the table in your first offer. In the current market, your strategy shouldn't be to hold something back for a counter offer, because you might not get the chance.

We've been helping buyers find their dream homes for more than 30 years. We can help you make the best offer on your next home!

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