Tuesday, January 10, 2012

4 Tips to Avoid Being Outbid on Your Deep Creek Lake Dream Home!

Starting fresh in the new year is an exciting time as endless possibilities lie in front of you.  If you’re reading our blog, chances are one of your goals for the new year is to buy a Deep Creek Lake home, and we want to welcome you!  Whether you’re searching for a place to retire, a vacation getaway or just a place to settle in permanently, you’re sure to find what you’re looking for on beautiful Deep Creek Lake!
As the team of Deep Creek Lake Real Estate agents here at Coldwell Banker Deep Creek Realty, our goal is to help you achieve your goals.  Our experience in working with buyers and sellers on Deep Creek Lake will ensure that you’re getting the best service possible since we understand the ins and outs of what it takes to buy one of Deep Creek Lake’s stunning homes.  
So, what happens if you find the home of your dreams but realize there are other interested buyers?  Since Deep Creek Lake is such a desired area, we know that this can be a common occurrence, especially in a buyer’s market.  However, it’s important to not let that scare you off from buying the Deep Creek home that has captured your heart.  Here are four practical things you can do to avoid being outbid on a Deep Creek Lake home
1. Beat the Crowd- Make it clear to your Deep Creek Lake Real Estate agent that you want to be made aware of new Deep Creek Lake listings as soon as they come on the market. This will help ensure that you are on top of the competition in seeing new homes and being able to make the first offer. You’ll also want to keep your offer deadline as tight as possible so the listing agent has less of a chance to entertain other offers. 
2. Do Your Homework- Many people are not able to pay all cash for a home. However, having a letter from your lender stating how much you’re qualified for will give you a boost! You want to know exactly what you’re able to spend before beginning your Deep Creek Lake home search.  Be aware that the average down payment in today’s Deep Creek Lake Real Estate market is around 20%. This type of preparation will help set you a part from the competition.
3. Aim High- It seems to go without saying that sellers tend to be more interested in the highest offer rather than an all cash offer.  Your Deep Creek Lake Real Estate agent should provide a Comparative Market Analysis (CMA) of homes on Deep Creek Lake Real Estate market that have recently sold or are currently on the market.  This will give you a good idea of what other homes like the one you’re bidding on are selling for and will help you come up with a reasonable offer. 
4. Relax- A demanding buyer can deter sellers, so it’s wise to be patient.  Although the national housing market is improving; sellers are still aware that buyers have the upper hand.  It could be that the seller is also forced to sell due to extenuating circumstances, so the selling process can be a sensitive time.  Be willing to work with the sellers’ time constraints on closing dates and don’t demand help with closing costs if you find you’re getting a good deal on the Deep Creek Lake home. Being in tune with the sellers needs can be a great way to make the seller feel good about accepting your offer. 

We hope these tips help as you begin to think through making an offer on a Deep Creek Lake home.  If you’re just beginning to search for a home and don’t yet have a Deep Creek Real Estate agent to help you through the process; we’d enjoy the opportunity to work with you!  Please feel free to contact us anytime to get started!  We can show you around the area and give you a tour of some of the homes currently on the Deep Creek Lake Real Estate market.  
We look forward to helping you achieve your home buying goals!

Patrick Kane
Sales Manager/Co-Owner
Coldwell Banker Deep Creek Realty
Your Deep Creek Lake Real Estate Expert

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