It might be nice if money were no object, but even if you had unlimited funds, you'd still want to get the best deal on Meridian real estate. There's nothing like the feeling of having equity in a home the day you move in or getting a lot of house without spending a lot of money. "Flippers" are legendary for paying pennies on the dollar for houses and turning them around and selling for nice profit. But even if you are looking for a house to make your home with no intention of selling in the near future, I have yet to find anyone who doesn’t want a good deal on their new home.
Consider Foreclosures and Auction Properties
There's always a slight chance that you'll stumble onto that beautiful home in pristine condition that, for whatever reason, is selling below market value. It's OK to keep an eye out for those, but you're more likely to find a good deal on Meridian Idaho Real Estate if you look at foreclosures and auction properties. FortuneBuilders puts them at the top of the list when bargain shopping for real estate, along with bank-owned houses (REOs). Rather than paying market-value, you'll likely be able to purchase property for at or below the amount of existing mortgage balances. Plus, in the case of REOs, repairs and tax liens are often taken care of already, and some mortgagors offer good deals on terms, too, when they're trying to sell an REO. If you want to see a current list of Bank Owned or Short Sale properties in Meridian Idaho, submit your information on our home page and Jeff or Sheri will reach out to you soon.
Meridian Real Estate That's Been on the Market Awhile
When you're shopping the MLS for Meridian Idaho homes for sale, pay extra attention to the houses that have been on the market for awhile. According to Entrepreneur, the longer a homeowner has to hold onto a house, the more willing they might be to bargain. That's logical reasoning; if someone has been paying two mortgages for any amount of time, they're likely to entertain any reasonable offer, even if they've already dropped their original listing price once or twice. This is more likely to happen when real estate is seasonally slow, typically during the winter in northern climates like Idaho.
If you have the resources, making a cash offer will make sellers give you serious consideration, even if your offer is substantially less than their listing price. Most buyers will make an offer and then begin the arduous process of getting a mortgage to pay for the house, but everyone gets to pass "Go" and skip directly to closing by cutting out the mortgagor middleman. If cash isn't an option, at least get pre-qualified with a mortgage lender. Sellers like to hear that a buyer has been prequalified because that will reduce the amount of time between making an offer and closing and they know that there will be no surprises on the loan side, because there isn’t one.
Get Help from a Professional
Even those who have experience with real estate benefit from working with a real estate agent who knows the current market and can help you negotiate the best deals on real estate in Meridian, Idaho.
The Washington Post points out that local Realtors can help you analyze the numbers to ensure that something that looks like a great deal really is one. Whether you're looking at a home or Meridian land for sale, a real estate agent's experience is invaluable for performing the market analysis, negotiating a price, and helping with the paperwork from contract to closing, plus they know when new homes are listed and know which areas in Meridian Idaho you may want to stay away from and also homes for sale have been on the market the longest.
For help getting the best deal on Meridian Idaho real estate or anywhere else in Southwestern Idaho, give Jeff Stewart at Stewart Realty a call for an assessment of your goals, a personal tour of the area and some great home options that fit your needs and budget.
Jeff Stewart, Broker/Owner 208-602-1993 or email@example.com