The snow continues to fall and temperatures are chilly, but, believe it or not our spring market is starting to heat up! As the spring market kicks off you are sure to notice a lot more competition in the real estate market. With inventory still relatively low, buyers may be finding themselves missing out on their dream home if they do not act quickly enough. Here are some key things to consider when beginning your home search:
~ Be Prepared ~
Before you head out to look at homes, be sure you are fully prepared. Having all your ducks in a row will put you in the best possible position when you find your dream home. This entails having your pre-approval letter in hand. When you decide to make an offer on a property It is always best to provide this letter in order to show sellers that you are serious and qualified buyers.
~ Know your Timeframe ~
Review any lease agreement terms or mortgage prepayment penalties, know school start/end schedules or work commitments, as well as, any impending travel commitments that could factor into your timing. This information will be important when submitting an offer and agreeing to a time frame for closing. Your timing could be a significant factor to whether a seller accepts your offer.
~ Understand your Options ~
Many times buyers have variables that impact their ability to purchase. For example, they may need to sell their current residence first, or perhaps liquidate other obligations prior to buying, etc... Be sure you communicate these circumstances with your agent so that they can best advise you on all your available options including contingencies. There are many available contingency options that allow a buyer to submit an offer on their dream home, and allows them the necessary time to resolve outstanding commitments, without losing out on that perfect property.
Always keep open communication with your agent, remember they are on your team! Working together, you can be sure to take full advantage of this spring market and get to realize your real estate goals when you find that dream home.
For more information or to discuss you specific circumstances, call us to learn more about how we can help you realize your real estate dreams!
Hanna Gorka Homes
(847)975-0015
100 Illinois Street, Ste. 200
St. Charles, IL. 60174