Bidding on a house here in Rhode Island can be a stressful process, especially when you’ve found the home of your dreams. While the wait to hear back on if your bid has been accepted can be a time of anxious anticipation there are things you can do to make it less so. By being prepared ahead of time and knowing what to expect, you can create a smoother, and therefore, less stressful bidding process. Keep reading this blog post for some tips on how to do just that!
Know what you’re willing to spend.
Deciding on what your ideal price is and what the maximum amount you would be willing to spend, before you begin the bidding process is recommended. This is an ideal step to take before beginning house hunting as well. Doing so will allow for a more streamlined bidding process, especially if there is a bidding war. Knowing when an offer is just too far out of your budget will prevent financial stress now and in the future as well.
Get pre-approved for a mortgage.
Before putting in your bid, get everything you need in order to ensure that you are pre-approved for a mortgage. Once you are pre-approved you can then show the seller your pre-approval paperwork when placing your bid. This will help you look more serious about your offer and even a more attractive buyer to the seller.
Schedule your home inspection.
Scheduling a home inspection before placing a bid will allow you to make a more informed offer on the house you are interested in. To get the most out of your inspection, have a list for the home inspector prepared in advance, for any concerns you may have about the house, based on your walk through. Ask your real estate agent for a referral to a few good inspectors to choose from, that have good reputation for service and competence.
An experienced RI real estate agent knows best.
Listen to any advice your real estate agent may have for you throughout the bidding process. They are experts in the home buying field and familiar with the different intricacies of home buying procedures, based on extensive experience with negotating. Not every home buying process is the same and an experienced real estate agent should be familiar with variations to each sale. If your real estate agent suggests a course of action follow suit to ensure that the buying process goes more smoothly. While we can’t guarantee an entirely stress-free experience when bidding on a house, there are the things you can do to help ease any anxiety that comes with attempting to buy your dream home. With preparedness and a smart real estate agent, like those here at Samborsky Homes in Cranston, RI at your side, you can feel more confident and less anxious in your bidding process. Once you have the keys to your new home in hand you will be glad you took the steps necessary to create a smooth and successful process!