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Orlando houses - Buyer tips on buying real estate

Tips on Buying in a Tight Market

Increase your chances of getting your Orlando dream house instead of losing it to another buyer, with these easy steps.

1. Get prequalified for a mortgage. You'll be able to make a firm commitment to buy and make your offer more desirable to the seller.

2. Stay in close touch with your real estate sales associate to find out first about new listings of Orlando houses that come on the market. And be ready to go see properties as soon as they go on the market.

3. Scout out new listings yourself. Maybe you'll see a brand-new "for sale" sign before anyone else. If you see a for-sale-by-owner property, give your Realtor a call with the advertised phone number and the address. Your Southern Realty Associate will be happy to arrange for a private showing. Most sellers will cooperate with a buyer's agent since they would need otherwise an attorney to draw up the contractual paperwork.

4. Be ready to make a decision. Spend lots of time in advance deciding what you must have so you won't be unsure when you have the chance to make an offer.

5. Bid competitively. You may not want to start out offering the absolute highest price you can afford, but don't try to go too low to get a deal. In a tight market, you'll lose out. Keep in mind that Orlando houses of sell above the asking price.

6. Keep contingencies to a minimum. Restrictions such as needing to sell your home before you move or wanting to delay the closing until a certain date can make your offer unappealing. In a tight market, you'll probably be able to sell your house rapidly. Or talk to your lender about getting a bridge loan to cover both mortgages for a short period.

7. Don't get caught in a buying frenzy. Just because there's competition doesn't mean you should just buy anything in Orlando. And even though you want to make your offer attractive, don't neglect inspections that help ensure that your house is sound.

8. Get Insurance coverage as soon as you found your new Orlando home. During Hurricane season insurance carriers may decline new coverage if a storm is approaching Orlando.

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Copyright 2005 - Malte Strauss -  office phone 800-771-0031 extension 298  -  direct line 407-416-9659 - fax 407-650-2769 
All information believed to be correct but not guaranteed. Usage of information at your own risk. Southern Realty Enterprises, Inc. is an Equal Opportunity Company. equalhous.gif (1822 bytes) Equal Housing Opportunity. Each office is independently owned and operated.