If you are buying South Lake Tahoe real estate in this current market, you may feel like you are hitting some road blocks. Low inventory can be a frustrating obstacle for buyers. Whether you are dealing with being outbid or a brand new listing goes pending before you can even see it, be sure to check out these tips if you are not having luck with purchasing a home for sale in South Lake Tahoe.
Don’t delay
If you take your sweet time trying to view a home for sale in South Lake Tahoe, you could miss out on an opportunity that is perfect for you. Time is of the essence in this market so get everything ready and try to be the first one in the door after a listing hits the market.
Don’t submit a lowball offer
Lowballing can back fire in a big way, regardless of the market. This is not the time to play hard to get. Make an offer based on market value, otherwise you could offend the seller and turn them off completely from countering. If you are serious about buying South Lake Tahoe real estate, be respectful of the sellers and discuss a good offer with your South Lake Tahoe realtor before submitting.
Don’t make an offer for the pre-approved amount
Speaking of offers, smart buyers know that getting pre-approved is the best way to prove to a seller that you are serious. However, using the document to come up with an offer amount could work against you. In a seller’s market where homes for sale in South Lake Tahoe are getting multiple bids, a seller may feel like they don’t have any wiggle room with your offer if the number is exactly the pre-approval amount.
Don’t waive inspection
Yes, waiving as many contingencies as possible is a great way to get your offer on South Lake Tahoe real estate accepted. However, the inspection should not be one of them. You want to make sure the home doesn’t have a bunch of expensive repairs lurking below the surface that could cost you dearly later on. When you waive inspection, you also run the risk of losing your earnest money if you decide to back out of the deal later. The only time this could be acceptable is if you, or a dear loved one, is a maintenance expert or a contractor and can do the work or repairs for cost. Even then, think long and hard about this one, and as always, consult your South Lake Tahoe realtor.
Don’t misrepresent yourself
If you are serious about buying South Lake Tahoe real estate, make sure you look great in the eyes of the seller. This market is competitive, and sellers usually prefer a buyer who is going to be the easiest to do a deal with. So be sure to avoid being too picky, making high maintenance requests, questioning the seller’s décor decisions and overall being too nitpicky.
As always, be sure you have a qualified South Lake Tahoe realtor working on your side. Having a long time, local expert working on your behalf ensures you not only have the best representation, but also the upper hand in a multi offer situation. For more information on real estate in South Lake Tahoe, feel free to give me a call.
