As the home prices continue to raise this leads to immense drop in the inventory levels, the competition for a great deal on home can get tough. According to reports, around 8.1% prices are up and continue to climb up widespread. In the hot market, the inventory of homes is limited and many buyers are fighting for a fewer homes. We have emerged as one of the premium villas in kochi, kerala, India. We have dealt in providing wide range of villas in cochin, kochi and can provide you solution on how to deal the situations in the market.
- Having Ready Cash
If you are able to buy a home with full cash offer, then you will have an edge over other offers with mortgage requirements. According to the reports of NAR (National Association of Realtors) 43% of home was purchased with full cash. With this there is no issue involved in mortgages, closes faster, and there is no appraisal requirement.
- Getting a preapproval letter
A preapproval letter is the confirmation from the relevant mortgage broker or bank that you are eligible to borrow the necessary money for financing your home. This indicates you to that you are eligible for a loan. This also makes an impact to the seller that you are more qualified and serious about purchasing your home. Another person may pay more but if he is not preapproved then you will have the leg up.
- Maintaining the Time Flexibility
Mostly the deal takes place within 30, 60 or 90 days. Customizing the length of the closing the needs of the seller can often seal the deal over a high priced offer. Unless there are any other requirements, a seller wants a pretty fast closing usually 30 days.
- Proper Inspection contingency
It is pretty important to forgo an inspection contingency to make the offer more attractive and Effective. After the thorough inspection, provide the seller with a list of issues and the solution to address them by fixing them. Make a price adjustment or giving back your credit back. In case if the seller does not agree to your requests cancel the purchase. Make sure that you are not forced in to this forgoing this contingency; you will be taking a huge risk.
- Chances Upon Financing
This is another important thing that you should never omit in your offer, unless otherwise you are not making the full payment. Generally a 30 to 45 day closing has usually a period of 17-21 days for a mortgage approval. The preapproval letter will make this finance contingency a less of an issue with the seller.
- Contingent upon appraisal
It is most probable that your house may not appraise at your offer price. However if you are done with your work and are comfortable with your offer, you might consider waiving this contingency.
Selling a home is extremely an emotional process for those who has lived in their home for a long time and raised a family there. Some sellers may get cold feet if an offer comes through that isn’t quite as high as they were hoping. It is going to be very difficult for those having a lot of unforgettable memories. I would refer you to get the assistance from this leading Premium villas in aluva who can guide you with valuable advice and suggestion