4 Ways To Get A Bargain When Buying Your Next Home

#1) Watch for recent price reductions (not just new listings)
Only watching the market for the hottest new properties to hit the market each day? You and hundreds of others! So, beat the crowds by keeping your eye on those homes that might be lingering on the market longer than expected and be ready to jump on those with recent price reductions. After all, if a seller’s home is sitting stagnant on the market for longer than expected, they might be eager to do a deal (and possibly accept an even lower price), even if they’ve just reduced.

#2) Know & adjust to the seller’s needs
Always rely on a trusted and talented Grand Rapids realtor for any intel they might have on the seller you’re considering buying from. They may know more about the seller’s situation that could help sweeten the deal and set your offer apart from the rest. For instance: are the sellers floating two mortgages and looking to close quickly? Bump up your timeline to make it happen. Or, are the sellers looking to stay in their current home while their kids finish out the school year? Let them keep possession of the home for a few weeks (or months) after closing in exchange for rent or a reduced purchase price.

#3) Consider your contingencies & financing.
Even if your offer comes in under asking price (or under other offers), often, less contingencies and financing hassle can be more enticing to sellers. Consider making a more substantial downpayment (or even a stronger earnest deposit) to show the seller that your offer is serious and less likely to fall through (especially if the words “all cash offer” simply aren’t in your financial future). Or, if buying an as-is home or one that needs substantial work, consider waiving inspections to show the seller you understand the nature of the sale and the work ahead. Removing any extra contingencies and financing hassles from the equation gives sellers confidence that your offer is solid, steady, and much less likely to fall through the cracks.

#4) Save for a substantial downpayment.
Saving up to make a substantial downpayment does more than bring down that big, scary principal loan amount – it can also make your monthly bill more affordable by helping you avoid costly private mortgage insurance. By putting down 20+%, you can avoid that costly PMI add-on each month and keep your payments much more manageable.

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