Home prices increased 7% since last year & rates are 7%. With that being said, this is an exciting time for homeowners but a daunting time for those still looking to purchase a home.Should you
BACK on THE Market- is it worth viewing?
Dated: June 9 2023
Views: 523
As a prospective homebuyer, you may have come across the term "back on market" while browsing through real estate listings. While it might raise a few questions or concerns, don't dismiss these properties just yet! In this blog post, we'll explore why a home labeled as "back on market" can be the ideal opportunity for you to find your dream home. So let's dive in and discover the hidden gems awaiting your attention!
Expanded Options:
A property labeled "back on market" represents an expanded pool of choices for you as a buyer. These homes were previously under contract but for various reasons, such as financing falling through, inspection issues, or personal circumstances of the buyer, they have re-entered the market. This situation opens up the possibility of finding a home that was previously out of your reach or wasn't on the market when you began your search.
Potential for Negotiation:
When a property returns to the market, sellers are often motivated to close the deal quickly. This can create an advantageous position for you as a buyer. The sellers may be willing to negotiate on price, terms, or even provide additional incentives to attract serious buyers. With the right negotiation strategy, you can secure a fantastic deal that fits your budget and preferences.
Opportunity for Improvements:
In some cases, a property may return to the market due to issues discovered during inspections. While this may initially seem like a disadvantage, it can actually present an opportunity. By addressing the concerns raised during the previous contract, you can negotiate repairs or credits with the seller. This allows you to tailor the property to your liking and potentially save money in the process.
Fresh Perspective:
When a home is labeled "back on market," it's important to approach it with a fresh perspective. Take advantage of this situation to conduct a thorough inspection and revisit the property with a keen eye. You may discover aspects of the home that you missed during your initial viewing or gain a better understanding of its true value. Remember, first impressions aren't always the most accurate, so take your time to evaluate the property from a new standpoint.
Reduced Competition:
Properties that return to the market typically experience a decline in competition. Other buyers may have moved on or found alternative options during the initial contract period. This decreased demand can work to your advantage. You'll have more time and space to make informed decisions, negotiate with the seller, and ensure you're getting the best possible deal.
Conclusion:
While the "back on market" label might initially raise some concerns, it can actually present you with an excellent opportunity to find your dream home. By exploring these properties, you'll gain access to expanded options, potential negotiation advantages, and the possibility of making improvements to suit your preferences. Embrace the fresh perspective that comes with these properties and take advantage of reduced competition. So don't overlook the hidden gems that may be waiting for you in the "back on market" section. Your perfect home might just be one of them!
If you have further questions about back on-the-market homes or looking to buy or sell in the greater Charlotte area, reach out to me today!
Rebecca Bouknight
Rebecca has helped families to sell and buy land as well as assisted for sale by owners to achieve their financial goals by selling their most valuable asset. Rebecca is also dedicated to assisting ho....
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