Debby Nesiba

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How To Get A Good Deal When Buying A Home

Posted On: October 14th, 2021 2:53AM

Are you looking to buy a house but are worried about getting the best deal? In this video, I’m going to show you how to get a good deal on the purchase of your property, especially in this market. We’ll look at three specific situations where the right timing can get you the home of your dreams.

 

 

Timing Is Everything

Buying a house is very exciting, but it's also scary. One of the things you might be worried about is if you’re getting a good deal. Are you overpaying? Are you buying in the right location? And how much do you need for a downpayment?

 

Buying a house is a place to live, but it's also an investment. To make the right investment in this busy market, the first thing to know is there are good deals in every market. However, timing is everything. People are always asking me, when is the right time to buy a house? The answer is it's always the right time to buy a house.

 

The key is jumping on the right opportunity when it becomes available, regardless of where you're looking or the price range you're looking in. The best deals always come up in one of the following three situations.

Ready For Action

The first situation is when the property just gets listed on the market. You see, good deals come and go on the market all the time. You have to be ready to jump on those deals when they come because everybody else is ready to jump on them, too. The key is being ready, willing, and able at any given time to make an offer—sometimes without seeing the property or leaving work early to view it as soon as possible.

 

Another strategy we like to use without involving all the competition is identifying a property that is about to have a price drop. There are many properties out there that are priced too high, and the sellers are getting ready to drop the price because they've been on the market too long. The key is to get to those properties before the price drop happens. The longer the property sits on the market, sellers get a little antsy and are willing to negotiate on price.

 

A strategy I like to use is to look at properties that have had an extended market time with a price a little bit out of your budget. For example, let's say you're looking at properties up to $600,000. I would suggest we look at properties that have been on the market longer that are up to maybe $650,000. Chances are there's a seller in that price range that’s about to make a price drop and would be willing to entertain your $600,000 offer.

 

When you don't have any competition like you would with a brand new property just coming onto the market, you win.

Off-Market Properties

The last strategy is to find a property that hasn't hit the market yet. If you know of a neighborhood that you're interested in moving into, this strategy might work for you. We can actually door knock or even send out a piece of mail asking people if they are wanting to sell their homes. While this may seem like a far-fetched idea, it actually works.

 

Did you know that roughly 10 to 15% of the population moves every year? If we're looking in a neighborhood of 300 homes, roughly 30 to 45 homes are going to turn over this year. The key is not theory; it's mathematical.

Getting Into Your Dream Home

I hope this helped you understand the three ways to get a great deal on a home. When you have the right agent willing to do the work for you, this is how you're going to find your dream home. If you have any questions, feel free to reach out to me and I’ll be happy to help.

 

Don’t forget to subscribe to my channel so you never miss an episode of my show, all about real estate. Stay tuned to see what I feature next!

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