How Buyers Can Best Position Themselves Amid Multiple Offers


With the number of multiple offers shrinking, now is a great time for buyers in our market. Here are some ways you can capitalize on this opportunity.

A question on the minds of many buyers is, “Are multiple offers still coming in on homes?”

The answer is yes, but buyers should be encouraged by a recent development: Not too long ago, a home in our market collecting 20 offers or more was the norm, but now, the average seller is seeing fewer than five.

So while you might still encounter a multiple-offer situation on the home you’re interested in, you can give yourself an edge by proceeding in this way:

First, sell your existing home before jumping into the market. This way, you’re not competing against buyers who’ve already done so.

Second, give the seller an opportunity for concessions. Whether they would like a little extra time before moving out or request to keep a piece of furniture, be willing and open to allow for small concessions.

An experienced agent will have made their fair share of counteroffers on behalf of their clients and knows the tricks of the trade when it comes to making your offer stand out.

Third, ask the seller what’s important to them. You may not know that the extra time to stay in the home or a piece of furniture is important to the seller until you ask. Find out what they put a premium on before even making your offer.

Fourth, be prepared to receive a counteroffer. In today’s market, you’ll more than likely not get everything you ask for on the first try. Brace yourself for a potential (and probable) counteroffer so you won’t be surprised.

Last, but not least, be sure you use an experienced buyer’s agent. This type of agent will have made their fair share of counteroffers on behalf of their clients and knows the tricks of the trade when it comes to making your offer stand out.

If you’d like any information on how to be in the best possible position and with the right buyer’s agent, we’d be glad to share it with you. Please either send me an email at Charlotte@CharlotteMabryTeam.com or call us at 423-593-5588. We look forward to hearing from you! Go out and make it an awesome day!
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Location: Chattanooga, TN, USA

Working With Either an Online or Local Lender—Which Do You Choose?


Is using an online mortgage lender a viable option or would you be better off going with someone local? Find the answer in today’s message.

You’ve decided to buy a home. Congratulations! The next decision to be made is who will help you in that endeavor—an online or local lender? No matter which you choose, it’s important to weigh the pros and cons of each.

In the ‘pro’ column for going the online route, you can take advantage of the Keller Williams Mortgage. Their online application is easy and painless, and you won’t have any closing costs whatsoever. What’s more, you’ll get money back at closing.

In addition to this, online brokerages are often less stringent with their credit score requirements. If yours isn’t quite up to par, you can expect greater flexibility with a lender you find online.

Now, for the drawbacks: For one thing, your risk of falling prey to online fraud and scammers is greatly increased. Anything you do online with all of your sensitive information is not without risk. By sitting down with a local lender and filling out an application the old fashioned way, with pen and paper, you’re free from the potential dangers of online tricksters.

The bottom line is the choice is yours, but take note of the fact that the best rate isn’t always the best deal.

Another thing to consider is that online mortgage lenders are more apt to approve you for more than you should buy. Just because you qualify for a certain loan amount doesn’t mean you should be spending that kind of money. When you meet with a local lender, on the other hand, they’ll tell you the unvarnished truth and help you reach a decision that’s in your best financial interest.

Not only that, but online lenders are also often less accessible to answer your questions or address an issue, should something go awry. It’s nice to know that you can physically meet with your lender and have an eye-to-eye conversation in such cases.

The bottom line is the choice is yours, but take note of the fact that the best rate isn’t always the best deal. It really boils down to who you’re working with and whether they have your best interest at heart.

We at the Charlotte Mabry Team would be happy to make a recommendation to you if you’re trying to decide on a mortgage lender. For help with that or if you have any other questions related to real estate, just send me an email at Charlotte@CharlotteMabryTeam.com or give us a call at 423-593-5588. I hope to hear from you soon!
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Location: Chattanooga, TN, USA
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