Thursday, June 17, 2021 / by Alex O'Brien
The Kat Geralis Home Team has decades of experience to help you get through a bidding war in Delaware and Pennsylvania real estate and we've included a few of the best tips for local buyers below!
Set Emotions Aside
One major aspect of buying a DE or PA home successfully is getting pre-approved for a mortgage. Not only does this show you’re a qualified buyer, but will allow you to act quickly in this highly-competitive market. During the pre-approval process, lenders will review your income, assets, and credit scores to determine how much you can borrow. You will need to provide other documentation like bank statements, pay stubs, and tax returns to finish this crucial step.
The majority of sellers see contingencies as roadblocks to a smooth sale. For example, the mortgage contingency allows you to pull out of the deal if you can’t secure financing. Be sure you’re only waiving contingencies you are confident you can proceed without having in place.
Write a Love Letter
Another strategy increasing in popularity is the “love letter” to the seller telling them how much you love their property and how it will be perfect for your family. Make sure you speak to your agent before writing once as, in some cases, they can raise fair housing law concerns.
Ready to get started on your home search in Delaware or Pennsylvania? Give the Kat Geralis Home Team a call today for a list of homes available in the area!
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