Today, I’d like to talk about the effects of a fast-moving market. Recently, I’ve been hearing from a lot of frustrated buyers who are tired of losing out on homes.
Oftentimes the reason they lost out was that they told their Realtor they needed time to think. When the client calls their Realtor back with the decision to buy, they do so only to find out the home has already gone under contract with someone else.
This situation is frustrating for the buyer and their agent alike. In this market, you must be prepared to make fast decisions.
Many Realtors tell me that any home under $250,000 in our area is likely to move off the market in just one or two days. This doesn’t leave buyers with time to wait around and think.
I think a great solution here is to take advantage of the 10-day option period our Texas real estate contracts provide. The beauty of this period is that you can go under contract but still think about it.
Taking advantage of this option period costs just $100, which is well worth it if you’re unsure of whether you want to commit but are afraid of missing out. If you decide during that 10-day period that the property isn’t the right home for you, all you’ve lost out on is that option check. You will get your earnest money back. I truly think this is a great strategy for undecided buyers to utilize.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.