At LRG, we want to make the home-buying process as smooth as possible, so we love offering our clients the ultimate tips and tricks. Today, we want to discuss the importance of knowing your home prices and how to use them to your advantage.  Due to current fluctuations in the real estate market, listing prices of homes are constantly changing, making it difficult always to know if these prices have stayed within your budget.

Here's what you need to know to get the house you want and surpass the rest of the market's cutthroat competition.

1- Get Pre-Approved

After touring so many homes, finding the perfect home is exciting. However, you can't breathe that sigh of relief just yet. It's only the beginning of a new step in your home-buying journey. The first step: get pre-approved. Getting pre-approved means knowing how much a bank will loan you and approximately what rate you'll be receiving it at. Having that pre-approval will reward you with consideration from agents and sellers. Now, they feel comfortable listening to your offer because you have a bank willing to vie for you.

2- Make Your Best Offer First

Since the market is currently competitive, homes may receive multiple offers from several interested buyers, meaning you may not get a chance to give a better offer. Talk with your agent and, based on comparable values, collectively decide the best offer that's ideal for your situation.

3- Use Your Inspection Results

Home inspections are meant to be helpful. We know that finding a leaky pipe or faulty wiring is stressful, but the great thing is that you can always turn a negative into a positive. Depending on market conditions, you can use an arising concern in a home inspection and lobby for a price cut or potential coverage. Often, sellers are open to negotiations so they can focus on their home-buying process.

4- Present Your Offer with Respect

Home buyers sometimes need to realize that presenting an offer is more than just the number. While it's true that the proposal should reflect a property's actual value, you're also showing your opinion of a seller's pride and joy: their home. Confronting a seller with a long list of reasons you don't like their home and why your offer is lower than the asking price can often turn them away from engaging in a deal. Our agents always work with stellar professionalism, so having them present the offer ensures they will handle it courteously and skillfully, complete with researched data and nuanced market knowledge.

5- Define the Details

A home closing relies on so much more than the big picture. Understanding and being on the same page with the details is also essential. Feel free to address the more minor questions. What appliances are included? What fixtures will be repaired and rejuvenated? Some of the more minor details can also influence the final price. Be thorough now so you can understand the situation later.

With that being said, sometimes it's ok to come to a compromise. Include the requests you're willing to give up because it takes time for sellers to meet your expectations. Now, it's a pleasant surprise for you if they agree, or you can graciously concede that request in exchange for one you truly want.

6- Work with Your Agent

Working with an experienced realtor is especially beneficial in helping achieve that lower price than trying to obtain it on your own. As professionals, agents know the real estate market well; it's their job to know it. They can help you understand property taxes, mortgages, and interest rates. And because they genuinely care about helping you get your dream home, they take it upon themselves to do what they can to negotiate the best terms possible for you.

Our team is prepared to help you with the ins and outs of buying a home. With our assistance, your dream home can be yours sooner than you think. Let the Levi Rodgers Real Estate Group help guide you through it. Contact us at (210) 331-7000 or send us a message if you're seeking our help. You can also follow us or message us on Instagram and Facebook!