Are you thinking about buying a new home in Salt Lake City or the surrounding area? Whether you’re a first-time buyer or a seasoned real estate veteran the home buying process is always exciting and at times can be full of surprises. In today’s blog post we’ll share some helpful advice about tempering your expectations to ensure that they’re in line with the modern realities of the Salt Lake City market.
“You Can’t Win ’em All”
Once you start the home buying process, you’ll be spending time going through property listings in order to create a short list of homes that match your needs and price range in areas that you’d like to live. As you begin preparing an offer for the home that you are interested in purchasing, it’s important to remember that in a market as competitive as Salt Lake City you might not be the only buyer bidding on a listing. As the old saying goes: “You can’t win ’em all”. It’s possible that the seller will decline your bid and accept another, which means you’re back to the hunt and on to the next home.
A Number of Factors Will Influence Your Negotiation
If the seller does accept your bid or counters with a counter-offer, you’ll enter the negotiation phase of the transaction where you may end up facing a few more hurdles. Again, try to remember that you don’t know what’s going on in the seller’s mind or what sort of life or financial situations they may be dealing with. You may end up discovering something in the home inspection or assessment that wasn’t disclosed or that may cause you to change your mind about the purchase. Try to keep an open mind throughout the negotiation process as there may be speed bumps along the way.
The Entire Process Can Take Some Time
The home purchase and transfer process is a major financial transaction and at times it can seem like it’s moving along a bit slowly, so try to have a bit of patience as you move towards the final closing day. The best thing you can do in this situation is have your home inspection ready, a pre-approval for your mortgage financing and all of your paperwork together so that your side of the deal moves along as quickly as possible.
Trust in an Experienced Real Estate Professional
The home buying process has a lot of moving parts and can be a bit overwhelming once you begin tabling offers and are into the negotiation period. Your best bet for home buying success is to place your trust in a qualified real estate professional like those here at Exit Realty Success. For nearly 20 years we’ve helped individuals and families with their home buying needs here in Northern Utah, and we’d be happy to help you. Contact us at your convenience at (801) 352-8000 and we can set up a consultation where you can let us know exactly what you’re seeking in that perfect dream home.