Invest Realty Group's Blog
Ready to make your homeownership dream a reality? In some cases, you may need to submit a home offer that surpasses a home seller's initial asking price, and these cases include:
1. You've fallen in love with a house.
Once you've found your dream residence, you'll want to do everything possible to secure this home as quickly as possible. Therefore, if you fall in love with a house, you can submit an offer that exceeds a home seller's initial asking price in the hopes of streamlining the homebuying journey.
Of course, before you submit an offer on any house, it is paramount to understand what differentiates an average home from a great one.
A great residence is one that you can enjoy both now and in the future. It likely will require minimal initial repairs, and as such, will be worth your time and resources.
2. You are facing steep competition.
For homebuyers who are competing for a high-quality residence in a buyer's market, it often pays to submit a home offer that surpasses a homebuyer's initial asking price. By doing so, you can guarantee your offer will stand out from others and boost the likelihood of securing your dream residence.
In a competitive real estate market, there is no need to hesitate to submit an above-average home offer, either.
A home offer that impresses a homebuyer may set the stage for a quick home sale. And if you put your best foot forward with a home offer, you should have no trouble acquiring a terrific residence, regardless of the current housing market's conditions.
3. You have substantial financial resources at your disposal.
A diligent homebuyer may choose to get pre-approved for a home loan. As a result, this homebuyer may be better equipped than others to submit a home offer that is higher than a home seller's initial asking price.
For example, a homebuyer who receives pre-approval for a home loan can start the homebuying journey with a budget in hand. This homebuyer then can check out houses that fall within his or her price range. And after this homebuyer discovers the perfect house, he or she can make an above-average proposal to acquire the residence.
To get pre-approved for a home loan, a homebuyer should meet with multiple lenders. Next, this homebuyer can review various home loan offers and select one that corresponds with his or her finances.
Lastly, if you need extra support during the homebuying journey, it pays to collaborate with a real estate agent.
A real estate agent will help you evaluate a broad array of houses in your city or town. In addition, this housing market professional can help you put together the right offer on a house to ensure you can secure your dream residence in no time at all.
Take the next step to acquire your ideal house – reach out to a local real estate agent today, and you can move closer to finding and purchasing your dream residence.
100 Pemberton St, Dracut, MA 01826
The regulations of real estate zoning have the potential to make or break a property, but not everyone is aware of these laws until they're confronted with the day-to-day realities of them. We'll look at the basics of zoning, and what investors and homeowners should keep in mind before making plans.
There Are Few Absolutes
When it comes to real estate zoning, there are very few assumptions you can make. Some neighborhoods give property owners near-total freedom to do whatever they like. Outside of breaking federal laws, owners are free to add, build and destroy at will. In other neighborhoods, there may be laws that govern practically any change you would ever want to make.
You may need to apply for any number of permits before you can be approved to improve your own property. If you live in an HOA, the regulations will become even more stringent, impacting everything from the color of your home to the length of your grass blades.
Professionals May Have to Get Involved
Zoning laws may prevent owners from doing their own repairs, instead requiring them to contact a pre-approved contractor to complete the job. Or they may allow you to complete the job, only on the condition that you schedule an inspector to certify that the safety of the property. These laws are put in place because one owner's plumbing fiasco can quickly spread to a neighbor's yard, and one electrical miswiring can extinguish the power on the whole block. The good news is that even the most stringent neighborhoods will typically allow property owners to do their own prep work before professionals arrive.
Zoning Laws Change
Zoning laws are not static, which can make them confusing to adhere to. There's plenty of unpermitted work all over the nation, and it can cause a lot of headaches for owners if they're challenged to prove when and how work was completed. Because of this, you're encouraged to do a little research before making changes to the property. In addition, keep track of all receipts and documents that show the dates of the changes. And if you're planning to buy a home, consider how future laws might impact the property. For example, if your land comes under environmental protection status, it may severely impact its value and functionality.
The zoning laws aren't there to impede property owners (although it may feel that way at times). These regulations were created to keep everyone in the area protected from serious property fiascos. Knowing the rules before you buy and following them after is a good way to keep yourself out of trouble.
129-131 Midland St, Lowell, MA 01851
When you are ready to buy a house, it pays to plan ahead to conduct a successful house search. That way, you can quickly and effortlessly navigate the real estate market and make your homeownership dream come true in no time at all.
Ultimately, you don't need to be a real estate expert to navigate the housing market like a pro. To better understand what it takes to complete a successful house search, let's take a look at three tips to ensure you can seamlessly go from homebuyer to homeowner.
1. Create Homebuying Criteria
If you plan to purchase a house in the foreseeable future, it helps to establish homebuying criteria. By doing so, you can enter the real estate market with a plan.
Think about where you want to reside. For example, if your goal is to live in the same small town as your family members and friends, you may want to hone your house search to properties in this town. Or, if you want to own a house that is close to your office in the city, you may want to pursue residences in or around the city itself.
Consider what differentiates your dream house from an ordinary home too. Thus, if you want to own a home that boasts an in-ground pool, dazzling garden or other distinct features, you should include these criteria in your homebuying strategy.
2. Get Pre-Approved for Home Financing
Lenders can help you get pre-approved for a mortgage prior to launching a home search. Then, you can establish a budget for the homebuying journey.
There is no shortage of mortgage options available, regardless of your credit score, income and outstanding debt. If you meet with banks and credit unions, you can learn about different mortgage options and select a mortgage that is sure to serve you well.
Of course, when you meet with lenders, don't hesitate to ask questions. Lenders employ friendly, knowledgeable mortgage specialists, and these professionals are happy to help you make an informed mortgage selection.
3. Hire a Real Estate Agent
A real estate agent can help you simplify your home search. In fact, with a real estate agent at your side, you can boost the likelihood of finding a terrific house at a budget-friendly price.
Generally, a real estate agent understands what it takes to pursue a home in any city or town, at any time. If you employ a real estate agent, you can get the help you need to accelerate your quest for your dream residence.
A real estate agent usually learns about a homebuyer's goals and maps out a homebuying plan. He or she sets up home showings and keeps a homebuyer up to date about new residences that fit a buyer's criteria. And if a homebuyer wants to submit an offer to purchase a residence, a real estate agent will help this buyer craft a competitive proposal.
Ready to buy a house? Use the aforementioned tips, and you can streamline your search for your ideal residence.