4 Tips on How to Make an Offer on a House in Mountain Island

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4 Tips on How to Make an Offer on a House in Mountain Island

Are you wondering how to make an offer on a house? There are a variety of homes for sale in Mountain Island, and depending on your price range, offer and Broker’s negotiation skills, you could be the proud homeowner of a beautiful home in one of the most picturesque locations of Charlotte.

In our current competitive market for Mountain Island homes for sale, here are 4 Tips on how to make an offer on a house that you like from the experts at Freddie Mac to give you the best chance to beat out your competition and seal the deal:

1. Know How Much You Can Afford

Before you start hunting for a house on the Internet, it is important to find out home much home you can afford, first.  This will help you save time by giving you a clear idea on which neighborhoods offer you your ideal lifestyle options within your price range, and establish your finances for a realistic and solid offer. Home prices in Mountain Island range from $250,000 to $1,000,000.

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In addition, here are a few communities surrounding Mountain Island, in case you need to expand your search:

The Riverbend – $140K – $300K
The Overlook – $350K – over $1M
Stonewater – $350K – over $1M
Preservation Pointe – $50K – $1M
Mt. Isle Harbor – $250K – $1M

This best thing you can do before you start house hunting is to get pre-approved.  Taking this one step makes you a serious contender, showing home sellers that you are serious about buying, and that you can make the offer with confidence knowing that the lender has already approved you.

2. Act Fast

Regardless of fewer investors in the market, low inventory is still creating very fierce competition across the country.

In a recent Existing Home Sales Report it was reported that there is only a 4.7-month supply of homes for sale across the U.S. including areas like Mountain Island, NC. With the normal market sitting at a 6-month supply of homes, demand is high and buyers are willing to pay more. To ensure that you get the home you want, try to be quick with your decision making and work with your realtor to decide on a solid offer as soon as possible.

3. Make a solid offer

Freddie Mac explains that to create a strong offer, it needs to be comparable to other sales in your neighborhood. Having a licensed and knowledgeable real estate professional who knows their neighborhood is instrumental in helping you to put in a solid offer that considers factors like recent sales to similar homes, conditions of houses and what you can afford.

Some buyers stand out in the crowd by writing personal letters to the sellers explaining why they love the property and how excited they are about the opportunity. Ask your realtor for other ideas on how to make an impact.

4. Prepare to Negotiate

Expect there to be counteroffers from the seller, based on your initial offers. Generally, sellers want to negotiate on two main things: The selling price and the closing date. Knowing how much you can afford prior to making an offer will be helpful to preparing for these instances.

Your real estate professional will be the key to the negotiation process, helping to guide you with the counteroffers and to ensure that agreed-to contract terms are met.

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Freddie Mac advices that once the seller has approved your offer, you’ll want to have your own home inspection done on the home to be sure of the home’s condition. If there are in fact issues, you can usually re-negotiate or cancel the contract.

Bottom Line

Whether this is your first home or your third, hiring a local real estate professional who is an expert in the housing market will be your best asset for a smooth home buying process.

Have you been wondering how to make an offer on a house? These 4 tips on How to Make an Offer on a House are sure to help you get much closer to owning the home you love! Are you finally ready to buy a property in the Mountain Island area? If you are, allow Showcase Realty to help! Showcase Realty’s team are experts in the local area of North Carolina and they’re ready to help you! Call today at 704.997.3794 or send us a message here! To get started, feel free to browse our Mountain Island Homes for Sale.

Considering a home inspection? Great idea! Be sure to read How Much Money Can a Home Inspection Save You to learn more. Let’s go house hunting! Find your dream home with us like this Happy Couple finds New Home with Showcase Realty!

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