Once you find a home you want to pursue I will assist you in preparing the offer. The first step in the offer process is to determine what the home is worth. This is accomplished by reviewing recent comparable real estate sales and accounting for how the real estate market is performing overall.
- When the supply of homes for sale is greater than Buyer demand. Buyer's markets are less competitive than Seller's markets and are an ideal time to buy. Buyer's will have more leverage in regards to offer price, contract terms and contingencies in a Buyer's market.
- When Buyer demand is greater than the supply of homes for sale. Seller's markets are competitive amongst Buyers. There will be multiple offers submitted on the desirable new Ocean City real estate listings that come on the market. Buyers will compete based on offer price, as well as contract terms and contingencies.
Once we have determined the offer price I will prepare the contract with all of the necessary contract contingencies. Typical contract contingencies include property inspections, HOA reviews, financing and title review. I will go through the contract with you, ensuring you understand all of the terms, provisions and contingencies.
Once you sign the offer I will present it to the Seller's side for consideration. I will negotiate on your behalf to secure the best deal possible with the most favorable terms. Through my years of experience and hundreds of successful real estate sales I have several "tried and true" strategies that aid in securing the best deals for my clients. A few useful tips to keep in mind when negotiating:
- Respond relatively quickly to keep momentum going
- Meet halfway where possible and make a concession to a Seller concession
- Keep the offer as "clean" as possible
- Ensure mortgage pre-approval or proof of funds are readily available
- Stay calm, patient, and focused on the goal of purchasing your new coastal home
The experience of the real estate agent you choose to work with will have a considerable impact on the negotiating process. Choose wisely and look for an experienced real estate agent that has a proven track record of success. When the negotiating phase is properly managed you will walk away with a good deal on the right coastal home that fits your wants and needs. If you would like to discuss the process of buying a coastal home in greater detail feel free to contact me directly anytime at 443-614-9179 or via email.