Buying Strategies

Your #1 objective is to try to make your offer a "Pre-Approved",
"Non-Contingent", "All cash" (no seller financing) offer.


Get "Pre-Approved" 

It's important to put yourself in the strongest negotiating position
possible when making an offer.  You want to present a pre-approval 
letter with your contract offer and ernest money so that when the seller 
and their agent evaluate your offer they know that it's a credible
offer that won't fail due to credit or financing problems.


Sell Your Current Home First

If you have to sell your present home, try to sell it first to 
avoid placing a offer on your new home that is contingent on selling
your present home.  You may have to offer more money to entice a
seller to accept your contingent offer.  In some cases, sellers
won't even accept contingent offers.  This will avoid putting
you in the position of feeling presure to accept less money for your
current home in order to get your new home.


Determine Seller's Motives

If you can determine the driving factors/motivations of the seller,
you can structure your offer to play towards their goals.  It may not
just be the highest price.  They may want a fast closing or a lease back 
arrangement or they may want to sell subject to their finding a new
home etc.  If you can meet some of these other motivations, you may be 
able to offer less than their full asking price and still walk away 
with the home you want.


List "Wants" and "Needs"

List and seperate the features and amenities that you absolutely "Need", 
such as the number of bedrooms/bathrooms/garage from those which you
"Want" but could live without.  Keep this list and evaluate each 
prospective home according to how well it meets your "Wants" and "Needs".
Also, keep in mind what you can't change (location, neighbors, number
of rooms etc.) and what you can (paint, wallpaper, fixtures, window
teatment etc.).  Try to imagine each home you view in it's stripped
down form (empty, neutral color) so that you can get an idea of it's
potential.


Please let me know if I can be of any further assistance.