Before everything else…
When it comes to buying a home, whether in the Miami real estate market or any other housing market in the country, know that everything is negotiable: from the price to the terms and even to the date of occupancy. This is the first and most important thing you should remember because knowing so will take away buying jitters when furnishing an offer to the property.
However, this doesn’t mean that you should get carried away. Although buyers indeed have the upper-hand in the Miami real estate market, the sellers also get to have a say in the negotiation. The most important thing to remember is to work closely with your agent in order to find out the best action to take and get the long end of the stick.
Amount
There are several factors to consider when coming up with the amount you can offer to the seller. Generally, though, using the comps will point you to the best direction.
Focus on the price of properties similar to the property you're planning to purchase, including square footage, number bedrooms and baths, and other crucial elements. Compare the value of the home to the recently sold properties, as well as properties that are still in the market. Always remember that working closely with your agent in this vital step can help save time in gathering the resources you need in order to come up with the right offer amount.
Terms, terms, terms
When you are indeed making the offer on the Miami real estate property, never forget to specify the terms of the sale. There are several things that may be included in your terms. Seller financing or asking the seller to pay for the closing costs is an example. Response time is also a good inclusion. Give the seller a specific amount of time to respond to your offer. Also, remember to include your request for the seller to pay for the repairs that may come out of the home inspection. Keep these things in mind and you will surely keep the transaction moving.
Mark Michael Ferrer
Miami Real Estate
Keywords: Miami, Miami home, Miami real estate, Miami real estate market, real estate