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Do you want to buy a home in Tacoma? Let’s make it happen. Whether it’s your first home or one of many, we’re here to help you. If you’re just beginning the home buying process, or you’ve written a number of offers without having success, here is the information that will help you write the winning offer.
Earnest Money Deposit – Showing “Good Faith” to the Seller
Earnest Money shows the seller, you (the Buyer) are making a good faith offer. Your earnest money goes towards your total purchase price and closing costs at closing. The higher the earnest money deposit the more appealing to the seller. More specifically, we are seeing earnest money deposits of winning offers be at least $10,000 and sometimes as much as $100,000 especially for higher priced home.
For more information about Earnest Money and its importance when buying a home.
Closing Date – Convenience Has No Price Tag
Make it easy for the seller and give them what they want. Convenience cannot be understated and a quick (15 – 21 day close) or prolonged closing to accommodate the seller could be the golden ticket you need for offer acceptance.
While getting approved for your home loan, be sure to discuss with your chosen lender their ability to close quickly.
Financing – Fully Underwritten & Guaranteed
If you are obtaining a loan for the purchase of your home this is a non-negotiable. Not only does this help you compete, it gives you time and confidence that there won’t be any hiccups with your financing.
We are seeing more and more buyers waive their financing outright. This is being done to better compete with cash buyers or buyers who have a larger downpayment amount. If you waive your financing and are unable to close because of an inability to obtain the loan, the seller could have grounds to keep your earnest money deposit.
Not sure what loan type you should get when purchasing your next home in Pierce County? Read about the various financing options for you in this blog. Your local lender is your expert when it comes to all things financing and will breakdown the numbers and what loan type is best for you.
Pre-Inspecting or “As-Is” Offer
In our real estate market, you’re likely to compete against other buyers who are willing to waive their Inspection Contingency to make their offer more appealing to the seller. However, we recommend pre-inspecting the home you’re interested in prior to waiving your inspection. Complete the pre-inspection before the seller reviews the offers. For more information about Home Inspections and other inspections you should have when purchasing a home in Pierce County, click here.
Hire a LOCAL Expert
Finally, hire a LOCAL real estate agent who knows the ins and outs of the real estate market. You’ll be spending a lot of time with your real estate agent. It’s important to make sure your realtor is a good match for you and your family.