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Tips to buying a home in hot real estate market; strategy and cash, not love letters – Palm Beach Post

Tips to buying a home in hot real estate market

Echo Fine Properties Realtor Andrea Roth has strategies to help buyers get their new home

Palm Beach Post

Sappy notes …….


Tips to buying a home in hot real estate market

Echo Fine Properties Realtor Andrea Roth has strategies to help buyers get their new home

Palm Beach Post

Sappy notes with pictures of babies and puppies are trifles in today’s feverish real estate market where speed, truculence, technique and deep pockets — not family portraits — separate successful homebuyers from strikeouts.    

Shrewd Realtors have dusted off tactics not seen since the heady home-buying days of the early 2000s to compete in today’s market slugfest where just a month’s worth of inventory is up for sale and 45% of people are paying in coveted all-cash deals, according to a February Florida Realtors report.

“There are a lot of ways to skin a cat,” said Echo Fine Properties Realtor Andrea Roth, who isn’t a fan of the so-called “love letters” to sellers. “At this stage of the game, you have to work on strategies that catch the seller’s attention and puts you at the top of the list.”

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Some strategies involve risk for home buyers, others tempt sellers

Some gambits can be risky — skipping inspections may make sense for a contractor who knows what flaws to look for, or in newer construction from a reputable developer. But it can be a losing bet in older homes or for buyers lacking handyman chops who may want to opt instead for a shortened inspection period of 3 days or less.

Footing the bill for the closing costs and paying both sides’ commission sweetens the contract for some sellers. Waiving the appraisal contingency, which locks in a buyer even if the appraised value of the home is lower than the agreed upon purchase price, is another cherry on top.

Pre-approved financing, a fast close and offering above asking price out of the starting gate can also work.

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Source: https://www.palmbeachpost.com/story/business/2022/04/20/how-buy-home-florida-tips-realtors-todays-hot-market/7279487001/

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