Looking to make an offer on your Woodstock GA Dream Home?
With a real estate market that’s short on homes for sale, you need to make sure you take the correct steps with both a seasoned real estate professional and a great mortgage company with a plan to help you with the best methods for getting your dream home for the best value.
Homes for sale throughout the Atlanta area can vary widely in price, but making an offer with seasoned professional should have the exact same process that benefits you in the end.
One BIG, BIG mistake is making an offer with a pre-qualification letter that shows the top dollar you are qualified for regardless of the specific home you are making the offer on.
When you get with a mortgage lender, it’s good to know how much you qualify for in purchasing a home. You need to know the price parameters to give you a peace of mind that you are not wasting your time, and the real estate professional will also require it to make sure they are showing homes that are not in your price range.
I presently have a home for sale in Woodstock GA in a very desirable neighborhood. We received two offers on the home for the sellers to review. One offer on the Woodstock home had a pre-qualification letter, but didn’t have a specific price on it. The mortgage lender was experienced and just had the specific Woodstock home address on it to verify the buyers were pre-qualified on the home they had submitted the offer on.
The second offer for the Woodstock home for sale had an offer with a pre-qualification letter with the top dollar amount documented on the letter from the lender. It’s like showing your hand in a poker game. You don’t want the seller to know “your hand.”
When I met with the seller of the home in Woodstock to review both offers, I was confident in responding with a higher counter-offer on the original offer of the second buyer since I knew the buyer would qualify for the counter-offer since it was within their high point of their mortgage qualification limits as stated in their pre-qualification letter. I didn’t know the high point of the first buyer since their mortgage lender was a seasoned professional to not disclose this up-front.
As a Woodstock listing agent represents the best interest of the seller on their home, my next step for making sure the seller was represented appropriately with this counter-offer was to get busy making sure the counter-offer had the comps to support the higher counter-offer. You want to be sure the buyer has a comfort level by supporting the higher sales price. You don’t know the background of the buyers. They might be very familiar with the sales prices in the Woodstock area or they might be re-locating to Woodstock from a different state.
The agent representing the buyers might also be from a different area of Atlanta. Many agents specialize in different areas of Atlanta, but when a buyer comes into town, they want to see homes for sale in different areas of the Atlanta area. The buyers are assuming their agent is knowledgeable about Woodstock, when they have never had a transaction in this side of town.
If I am representing a buyer who has just relocated to the Woodstock, GA area, I make sure they have the best website for getting a great start to this community by having them take a look at the Woodstock website; www.woodstockga.gov. It’s a great introduction to learn more about this amazing area of Atlanta.
One of the most trusted mortgage companies I work with on my real estate transactions is also one of the largest in the country; Movement Mortgage. They have state of the art mortgage programs that fit the buyers needs. They also have a great app available on their website, www.movement.com. My clients enjoy putting this free app from Movement Mortgage on their phones when they start the home buying process. It gives them the freedom of having the necessary tools at the tips of their finger tips.
If you are looking for a local Woodstock Georgia real estate team who has the experience and knowledge to look out for your best interest, give us a call or text (678) 462-1191.