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Buyers Tips
There are a number of things a buyer can do to position themselves to
have a real estate offer accepted. Buyers can enhance the chance of
getting the home of their choice by doing the following:
Get pre-approved
for the purchase.
This takes very
little time and lets you know the price range you qualify for and which
fits your lifestyle.
Obtain your own
credit report.
This allows you
to make sure the information is accurate. If it isn't, take steps to
correct the report immediately.
Keep your debt
load to a minimum.
Don't make any
major purchases or incur any additional debt until after your purchase.
Pay down credit cards and don't apply for any new ones. Remember,
financial institutions evaluate your financial situation on your gross
monthly income. Your total monthly house costs should not exceed 28
percent of your gross monthly income.
Submit a strong
competitive offer.
Include a
substantial earnest money deposit.
Sometimes offers are accepted based on the amount of the deposit.
Try to minimize
the number of contingencies.
Fewer contingencies mean a stronger offer.
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