As your Boston real estate agent, I’m here to tell you that
buying a Boston home in the winter, around the holidays, is a great idea. I
know it doesn’t seem like it is, but you have less competition from other
Boston homebuyers, and agents and lenders are often less busy and have more time
for you. Also, you get to see homes in a whole new light. It’s easy to make a
home look good in the summer, but what is it like in the winter? Feel any
drafts? How high is the heat set?
With home prices continuing to rise and with low
inventory in the Boston real estate market this time of year, it’s important
you learn how to make your offer stand out to Boston home sellers. Boston.com
shared some tips recently that I have summarized here for you:
- Likeable. Letting the seller know why you’d like to live in their home is a good step to take. Chances are, the Boston home seller fell in love with their home while living in it, so they’d like to know they are selling it to someone who will make it just as meaningful. Write a letter! Speak from the heart.
- Quick inspection, no repairs. A Boston homebuyer shouldn’t need more than five days to get an inspector to the house, especially in the off-season, so don’t take 15! The Boston home seller could still turn down your offer. Make it quick, and consider an “as is” approach, where you’ll have the option to accept the house or walk, but the seller doesn’t have to make repairs.
- Noncontingent offers. With so many cash buyers out there now, waiving the contingencies on financing or appraisal are options to stand out from the rest of buyers. Just realize that both of these methods are risky. Only agree to these if you have a trustworthy lender or a good amount of money saved.
- Escalated offer. You don’t have to hold out with your best offer, and play the counteroffer game. If a seller has numerous buyers interested, they could just accept the best offer and run with it. Don’t be afraid to make your first offer your best offer. You could also add an escalation clause.
- Get preapproved. It’s almost standard now for sellers to only choose Boston homebuyers who are preapproved. Visit a lender in Boston, MA before you even begin your home search, and get a preapproval letter to verify that you qualify for a loan.
For more details on each of these, check out the Boston.com article or contact me with questions!
You don’t have to do all of these, or any
of them. They are just examples of how you could stand out in a group of
homebuyers when inventory is low. As your Boston real estate agent, I can help
you determine what the best action is for you to take as a Boston homebuyer this
winter.
Phone: 617-642-7585
Email: pf@pattifine.com
Patti Fine Real Estate
Greater Boston Area Homes
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