I surveyed the Nest Realtors and asked for the top three things that buyers need to do in preparation for buying a house in Charlottesville. These are the responses, in no particular order:
- Have no house to sell / No home sale contingency – this could be your single best advantage in this market.
- Prepare to be flexible on closing date – offer 15-120 day close – meet the sellers’ needs where you can, if you’re not giving them their price.
- Be prepared to take a shot at more than one house. Believe it or not, houses are selling, occasionally with multiple offers!
- Offer an aggressive yet fair price based on real comp data and be prepared to back up your offer.- Back up offer with real data or a real explanation (don’t just look at the list price and knock of 20%)
- Have a generous good faith deposit/strong pre-approval to assure the sellers you are viable and in earnest.
- This is a great time to re-assess some of the older inventory and get a great deal on a house that might need some TLC/decorative love/attention. Too many buyers have decided they now want to “have it all” and are passing up on homes with good space and good bones because they seem stale.
- Hire a knowledgeable Buyer’s Agent who knows the market.
Jim Duncan is one of the founding members of Nest and is a Charlottesville Realtor who writes at RealCentralVA, RealCrozetVA and AgentGenius.
Nest Realty was recently awarded the "Most Innovative Brokerage or Franchise" at the 2009 Real Estate Connect Conference in San Francisco, CA.
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