First Time Homebuyer Programs

First Time Homebuyer Making an Offer Tips

We’ve been working with a First Time Home Buyer who has been looking for a house for 7 months.  She’s seen MANY houses – and she’s made 5 offers that have not been accepted… which is really frustrating her.

We understand that she’s frustrated – but she has to be realistic. The Real Estate market in Raleigh has changed.  We are not like some other parts of the Country… there are fewer houses on the market in several price ranges, and Sellers are not going to just “dump” their house!

It’s not ALWAYS the Price that causes the Seller to accept another offer.

Hesitation also kills deals – If the house you love in Cary is in good condition, and is priced “right” then there will be more buyers looking at it.  We’ve seen First Time Homebuyers miss out on a home because:

  • The buyer loves the home, but is afraid to commit, so takes an extra day to make an offer or respond to a counter and loses it to another, more aggressive buyer.
  • The buyer whose anxiety snowballs into feet-dragging on getting their documents to us (the lender), forcing them to run behind on loan contingency removal.  If you are purchasing a short sale, or a foreclosure – the bank you are buying the house from could refuse to sell it!
  • The buyer waits so long to get serious about reviewing disclosures, reading inspection reports and obtaining repair bids that they panic and consider pulling out of the deal when the first inspection reveals even a few condition issues that would not otherwise be so worrisome.Additionally, because much of the early-deal hesitation arises from the novelty of the idea of making such a major financial commitment… we suggest that BEFORE you go out to look at the properties, do a very thorough job of reviewing other homes that are for sale in that area, and look at what homes have sold for during the last 3 months.  Because of this “homework” we strongly suggest that all home buyers in North Carolina work with a BUYERS representative Just calling the agent who is representing the Seller is not the only option you have!

It’s a Great Time To Buy a House!  You can do this!  We also offer NC Housing Finance Agency First Time Home Buyer Programs you might want to get more information on! Buying your First Home is an exciting time! Call Steve and Eleanor Thorne, Best Mortgage Rates in Cary NC, 919-649-5058

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