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.
Jim Duncan on WINA radio discussing Charlottesville and Central Virginia real estate market | Real Central VA
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