Buying or Selling a Home

Buyers Be Prepared: The Real Estate Market in St. Louis is Hot

St. Louis Real Estate Buyers are frustrated.  The inventory levels are still low and good houses are being snapped up as soon as they hit the market. Most of the last few listings that I have brought on the market since January have sold within the first week. One listing I had received 3 offers on the first day.

What can you do as a Buyer to make sure that you are the lucky Buyer of the home of your dreams?

  1. The first thing is to watch for new listings on a dependable site.  I have found that Listing Book is the best option.  It is synched with the MLS every 30 minutes and you will receive a Morning Report of new listings that meet your search criteria.  Only Realtors can sign you up on this service. Feel free to register for an account on my site: http://tedwight.listingbook.com
  2. Get a preapproval from a lender
  3. Make sure that you see the house on the first available day with your agent.
  4. Write a good offer right away.  It is okay to pay full price or even more if you want the house. Generally you will include an Appraisal Rider with your offer that will protect you from overpaying for a home. Sometimes agents will accept an offer with an acceleration clause- you will pay so much money over the best offer up to a certain dollar amount.

Good luck!

 

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