If you are in the process of purchasing a new home, then you need to ask yourself some important questions. Firstly, Why Pay Market Price for A Home? Do I have the money to buy what I want? Will I be purchasing the house or condominium that I need?
If you are single, then your situation is surely different from married people who will be competing for the same property. As a single person you may not have the same credit history or credible standing with bank or loan company. A lender may view you, a single entity, as being unstable.
Whether or not their is any credibility to the lender’s view of you, the way market yourself matters. If you present yourself as being grounded and interested in putting down roots, then the lender may be willing to take a chance on lending you money. The leverage a married couple may have over a single person is that the lender envisions the married people as one unit that is focused on one goal: building a home in their house or condo.
Real Estate Agents, similar to lenders, also assess prospective purchasers. They will size you up based on their set criteria. Perhaps they will consider you a more serious investor if they know you have already been pre-approved for a line of credit for a substantial amount. If you have a strong career, in which you are advancing in terms of job position and salary, then both a Real Estate Agent and a lender will consider you to be someone to bank on.
Based on how you present yourself and your financial position to lender’s and Real Estate Agent’s, you will likewise receive measurable service. If an Agent knows you will certainly qualify for a mortgage and that you have a readily available down payment, then they will be more inspired to show you their special book of property listings. Agent’s may not show the same properties to all clients and / potential clients. This is because they do not want to sully the relationship they have will a seller and also do not want to build a relationship of bringing would-be buyers to the table who are just not serious, or who are unable to close the deal.
If an Agent brings buyers to sellers and deals do not close, then eventually the Agent will become known as an unreliable Agent. To build and establish a portfolio of successful transactions, Agents will reserve their best buy’s for buyers that can close the deal. The benefit to for real buyers who have cash on hand, is that they will be able to get bargains on properties. If there is no condition based on financing and a down payment, without limit, can be provided on a moments notice, then a seller will likely be willing to substantially bend on the price.
But there is such much more. Power of Sale properties, urgent sales due to divorce, bankruptcy or general financial problems can be secured by buyers who can show the money quickly. These real deal properties need to be liquidated to satisfy immediate debts. Buyers who have liquid capital will be able to cash in big time on these super- save homes.
To pay less than market price for a house or condominium you need to be known as a buyer who can close a deal without any doubt or fuss. Seem to be an Agent’s dream and you will be able to make your own dreams come true.