Listing Courtesy of LONG AND FOSTER-BETHANY
Wasn’t it just yesterday that we seemed locked into a classic home buyer’s market in Bethany? Bad economy, bad job numbers, tanked real estate values were all we heard about…until it eventually shifted. Over the past year or so, it’s become a very different landscape. If you’ve been out looking to become a Bethany Beach home buyer, it’s possible that you’ve found yourself putting in offers on multiple houses…and also possibly watching from the sidelines as another Bethany Beach home buyer walked away with a deal. If this isn’t a true seller’s market, to you the difference may not be apparent.
In any case, when a prospective home buyer in Bethany Beach finds themselves vying for one of the plum homes that are now appearing in this season’s Bethany listings, there’s no need to passively watch as others get the nod. If you are sure of the value of the property you are going for, there are straightforward tactics for improving your chances of winning the day:
- Offering at or above list price is the time-tested way to give you the best shot of getting your contract accepted over bidders who offer less than list. Real estate prices are again on the rise, increasing your likelihood of being able to recoup the extra money if you decide to sell several years down the road. Look at the comps with your agent to determine what an aggressive—yet realistic price—will be.
- Ask your real estate agent what the recommended earnest money amount would be; then double or triple that deposit amount. It’s a sure way to signal that you’re a serious and financially able home buyer. This tactic has the advantage that it doesn’t really cost you anything in the long run, assuming you hold up your end of the contract. It is a way to stand out from other Bethany Beach home buyers without actually spending more.
- In a buyer’s market, it’s almost expected to ask for add-ons like fixing a staircase or leaving the swing set. But in a seller’s market, you can beat the competition by not asking for extras beyond what is offered in the listing. Home sellers may be fully occupied with many outside details (like looking for their own next home!) and often assign high value to an offer that looks uncomplicated.
- Along the same lines, another way to set yourself apart from every other home buyer is to offer to give the seller more than the usual time to move out of their house. Many other bidders won’t think of this—but it can make the deal if the sellers are having to cope with difficult deadlines for their own move.
Above all, don’t let yourself get discouraged. The right house is out there, and you will get an offer accepted! Particularly in a seller’s market, any Bethany Beach home buyer will be rewarded by just remaining patient and cool-headed. First step if you will be looking to buy this year: call me today to get started!
When most people picture how they will buy a Delaware house, they imagine visiting properties with their real estate agent, zeroing in on a suitable home in a neighborhood they like; making an offer; purchasing the home.
But there are also less straightforward ways to go about buying a Delaware house. One way people purchase houses today is at a local auction. Homes usually go on auction because they have been foreclosed upon or have unpaid tax liens; but there are any number of possible reasons. For the buyer, a real estate auction presents an opportunity — but also hurdles to clear.
A first possible drawback can be a real showstopper: the relative difficulty of thoroughly checking out the home’s interior. When it proves impossible to inspect inside, some research about the neighborhood, the history of sales in the area, and even visiting other open houses in the neighborhood can give some feel for what comparable neighborhood homes are like.
Too, auctions in Delaware are usually geared toward cash buyers. In many cases, companies require you to register before you may join the bidding. As with car auctions, it’s almost always necessary to come prepared with cash (in the form of certified checks). Most auctions require the entire sum to be paid immediately, while others specify a set portion or amount. In short, Delaware real estate auction buyers need to have done their homework beforehand.
There can also be vagaries in timing. For any homebuyer who needs to move in right away, an auction may not prove to be a feasible option. Especially with foreclosures, if the home is not vacant at the time of auction, the eviction process can turn into a lengthy court battle if the occupants are unwilling to leave.
Buying a home through a Delaware auction can be a great way to nab a home at a bargain basement price, but being aware of the complicating factors is a must. There are many ways to find the perfect home – and I’m here to help guide my clients through the choices that will work best for them. Call/text 302-228-7871 or email me, Russell Stucki, REALTOR ® of Beach Real Estate Market to provide detailed information on Delaware homes for sale, investment and commercial properties, luxury and waterfront homes, condos/townhomes, new construction, lots and land, farms and equestrian properties located in but not limited to Bethany, Bethel, Bridgeville, Dagsboro, Delmar, Ellendale, Fenwick Island, Frankford, Georgetown, Greenwood, Harbeson, Laurel, Lewes, Lincoln, Milford, Millsboro, Millville, Milton, Ocean View, Rehoboth Beach, Seaford, Selbyville, Delaware.