Home Buyer Real Estate Tip
Are you buying a home? I have been getting phone calls from home buyers who tell me their offers have not been accepted with the real estate agent they are working with. There are several different reasons home buyers offers have not been accepted.
Since as a Sacramento REALTOR ® I have not been privy to the contract your real estate agent filled out, I can only give you some of the many reasons this may have happened.
- Your offer was too low in a booming real estate market where prices are going for more than the asking price.
- Your offer was not the highest offer received by the seller
- Your offer did not include your PreApproval letter
- Your offer included too many seller requests
- Your offer was not filled out properly
- Perhaps there were all cash offers & yours is not
These are just a few of the reasons why a Sacramento home buyer’s offer may not have been accepted. Currently, there is very low inventory and many home buyers so a Sacramento home buyer needs to be aggressive in this real estate market in order to get a house. Otherwise, the longer it takes you, the more you will pay in the end.
The real estate Purchase Contract needs to be filled out correctly. All those little lines and spaces for information on the Purchase Contract that home buyers sign are there for a reason. The REALTOR® that the home buyer decides to work with is vital toward getting the home buyer’s offer accepted.
The REALTOR® must understand the current real estate market in order to get the home buyer’s offer accepted and counsel the home buyer on what they need to do as well as pay if they really want the home for sale. In the end, it is the home buyer’s decision of course but you should know all the facts before making an offer.
Sacramento homes are receiving multiple offers
Since most homes for sale receive multiple offers, a
Sacramento home buyer wants to make sure their offer is accepted. Is your contract fully filled out? Have all the additional documents been provided with your offer? If not, your offer may not be accepted. Homes for sale are moving rapidly, so make sure all your documentation has been provided without the listing agent asking for it, because many won’t waste the time. They will just move on to the buyers who did submit all the necessary documentation.
As a Sacramento REALTOR®, I see lenders who write offers for home buyers, but don’t fill out the contracts correctly nor in the best interest of the home buyer. Of course, if I dabbled in loans, I’m sure I wouldn’t do a good job either. In real estate, the more “deals” a REALTOR® has had experience with, the better professional representation a home buyer or seller will have. Experience in real estate is like anything else, the more you do it, the better you get at it and the more you learn.
In the old days, the real estate Broker checked each agent’s file long before the escrow closed so that mistakes could be caught but lately, I’m not sure anybody is checking the contracts being written. So, do yourself a favor, home buyers and check your own contract, making sure all the lines are filled out so your chances are better toward getting your offer accepted.
Here are a few key points as a home buyer who should expect from your REALTOR®:
- show you homes with no pressure
- expect home buyers have Pre Approval Letter and/or a bank statement showing proof of funds
- provide CMA(comparative market analysis) before writing offer
- keep you well informed & communicate at a minimum, weekly
These are just the minimum requirements you should expect from your agent if you are a home buyer. Do you need a professional real estate agent who will have your best interest in mind? I’m here to help you if you are really ready to buy a home.
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