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Buying a Portland home? Search all homes for sale
Buying a Portland home? Search all homes for sale
The Portland real estate market continues to be brisk and fast paced. Because of the competitive climate, it's important to make yourself stand out from the rest of the crowd. Today, you will learn creative ways to make yourself stand out as a buyer, despite the rigorous competition.
Get pre-approved! Instead of only getting pre-qualified, it's useful to get pre-approved by a reputable lender in the area. Allow a well known, reliable lender to help you through the entire process in a timely fashion. They will help you look as strong as possible on paper when it comes time to negotiate.
Have at least a 20% down payment. Even if you can't afford a 20% down payment, look for innovative ways or creative terms to make yourself stand out. For instance, suppose the seller needs a quick close in order to return to their job in another city. You then have the advantage to market your ability to close quickly. Your flexibility to accommodate the seller's needs could be a great selling point.
Have all your paperwork in order. Organization always works in your favor. Avoid any incomplete paperwork to save everyone's time. Check for any missing signatures, unanswered questions, and any other blank fields. Remind your agent to make sure everything is complete.
Forget lowball offers. Lowball offers simply don't work in the current climate. One day, they will work in the future, but not today.
Keep your contingencies reasonable. It's difficult to get a contingent offer accepted today, even on a good house. Get your home in escrow in order to move forward and enter the market. Other contingencies include shrinking your inspection period from the standard seven to ten days. Again, look for ways to make yourself look good. Remove any barriers that may get in a client's way.
Feel free to reach out to us if you have any questions. We look forward to hearing from you.
