Tips for Making Your Best Offer in Today’s Market

If you have been on the hunt for a home within the last year you may have come across a multiple offer situation. Welcome to the post-pandemic housing market, where going over asking is the new normal and waiving contingencies is just another part of your contract. That’s why in todays sellers market it is critical to stand out as a buyer, and to work with an agent who is familiar with the Northern Jersey Market. If you’re planning on buying a home this year you are going to want every advantage when purchasing your forever home.

Here are five tips to keep in mind:

1. Work with a Real Estate Agent

Even if we were not in a seller's market, it is important to rely on a trusted real estate advisor. Find an agent who is an expert in local real estate market. They will have an insight into what has worked with other buyers in the area and what sellers may be looking for. Be sure to select an experienced and trusted professionals who will help guide you in the right direction and helps you make an informed decision.

2. Know Your Budget

Knowing what you can afford is crucial when buying a home, especially in the market we are currently in. Getting pre-qualified and being aware of your budget is critical in your success as a buyer. Not only does it make you a smart and well-informed buyer but it shows the seller that you are a serious buyer.

3. MOVE FAST

In todays market, you must move fast. Like the saying goes there is no time like the present time, and this is especially true if you wish to purchase your dream home. When homes are selling as fast as they are in our market, staying on tope of the market and moving quick will ensure you are in your dream home this fall.

4. Write a Strong Offer

Long gone are the days of submitting an offer at or near the asking price. Recent studies show that 50% of offers are above the list price. This is why it is important to work with a trusted real estate agent, who is going to guide you in the right direction.

5. Understanding the Sellers Needs

When submitting your offer you are going to have to keep both your best interest and the interest of the seller in mind. Your real estate agent will help guide you in the tough process by explain the different contingencies and which ones you should not waive in order to always protect your best interest and your investment. It is important to keep the sellers needs in mind when competing in a tough market.