A Home Offer Guide for First-Time Home Fort Wayne Homebuyers
When first-time Fort Wayne homebuyers finally find the home that is exactly what you’re looking for it’s time to make an offer. Are you prepared for to do that?
As first-time Fort Wayne homebuyers, making your very first offer on a home can be an intimidating process.
To help you get the process started, here are a few tips on how to make an offer as first-time Fort Wayne homebuyers.
Know the Fort Wayne Market
Now that you’ve found the Fort Wayne home you want to make an offer on, your research isn’t over. Find out as much as you can about the listing.
How long has it been on the market? Are there other offers already on the table? Is there a timeframe in which the offers will be reviewed? Also take the time to figure out why they are selling and what their motivation may be.
This information can tell first-time Fort Wayne homebuyers a lot about the seller and help you to make an offer that will appeal to them.
Research Fort Wayne Comps
In any Fort Wayne home buying venture you want to learn about similar properties and how this home matches up. Compile a list of the last six months worth of sales in the area and similar to this home and compare them to help get a better idea of what your offer should be like.
First-time Fort Wayne homebuyers will also want to take a look at pending sales to see if you can find out the number of offers in order to ballpark what those offers may be. Pending sales are the best and most up-to-date representation of market stats.
Keep in Touch with Your Lender
By now your lender should be one of your most-called phone numbers. You will need a pre-approval letter and will want an update on mortgage rates and products as well.
Since mortgage rates change on a daily basis it’s important to keep up to date on how things have changed and what can affect you.
Understand the Terms
As first-time homebuyer Fort Wayne homebuyers, it’s important for you to know the terms going in. How long will everything take? How long for the inspections, closing, appraisals, and loan contingency?
Be Confident
You’ve looked at several Fort Wayne homes and have worked the Fort Wayne market long enough to know your way around it pretty well. This means that you should be able to go into the offer with the confidence of a seasoned buyer.
The key is to trust your own judgment, as well as all that you have learned along the way.
Remain Unattached
First-time Fort Wayne homebuyers should keep in mind that it is rare to actually get the first home they make an offer on. Remember: it’s not the end. There will be other homes.
Understand that there is no actual big hurry for first-time Fort Wayne homebuyers to purchase a home. You should take your time and find the one that’s right for you.
Do your research and work with your lender to create the best offer possible if you truly love a home. Know the terms and process before you get started and you’ll be on your way to buying your first home!