The Boston area is a wonderful place to start a new life, as is evident in the fast sale of houses all around town. So, it’s no surprise if the thought of looking for houses in areas like Cambridge, Belmont or beyond puts you a bit on edge. If you want to get a leg up on the competition and push yourself to the top of those offer piles, here are three great tips to help you purchase your dream home.
At the end of the day, purchasing a home is about the money. If you have the ability to flex some cash, this is a proven method to put you at the top of a seller’s offer list. On a smaller scale, getting pre-approved for your loan is an easy way to show you have all the necessary funds prepared upfront. Another way to impress the seller is by waiving certain fees on your contracting process or offering above the asking price. Real estate professionals often advise their clients to pay 1%-3% over the asking price
to ensure their offer can compete. In addition, if other buyers are feeling super competitive, an escalation clause never hurts in helping you secure your dream Cambridge real estate. You can also always put in a cash offer, which raises your chances of getting a home immensely.
Give them options
Proposing the option for some added wiggle room during your transition from offer to owner can make you a top pick for the seller. If you’re flexible on their move-out date, the current owners of houses for sale in Belmont may feel more comfortable about handing their homes over. For example, previous owners get roughly 30 days during the closing process to get their home in order
, and then how much time they spend in the home afterward is negotiable. By giving them an extra ten days to get their affairs in order post-closing, you’re more likely to get on their good side. You can also waive contingencies (such as an inspection) on your Cambridge real estate. And if you think that sounds a little too risky, you can do a pre-inspection before committing to any contingencies, which would give you some peace of mind to move forward with negotiations
. This way, you’ll have less time trapped in contract limbo and still feel safe about your purchase.
Shop under your budget
When looking at houses for sale in Belmont, it’s important to be aware of how far other people will go to compete for this real estate. If you look for houses under budget, you’ll have more financial leeway to make higher offers. Therefore, you’re more likely to outbid other people and win the house you want. But if you keep stretching your budget thin and coming up short, you’re going to get burnt out.