If you’re thinking of buying a lake home in the near future, here are 5 tips to ensure your success in the current market and get your dream home:
- Be Prepared to BUY! Instead of saying “I’ll think about it,” you should be ready to make a down payment on a lake house. Otherwise, good listings will be gone.
- Find a Local, Lake Agent. These agents will be aware of local market changes that you won’t see online. You can find a great agent at Lakehomes.com.
- Use Escalation Clauses. Many buyers use these clauses which essentially say “If I’m not the highest, I’ll increase my bid up to a certain point.” This “auto bidding” can be helpful to ensure your bid is the highest.
- Be Ready for a Low Appraisal. Remember that appraisers are looking out for the bank rather than you.
- De-Risk the Deal! Many offers have a great price, but they also include other contingencies for the loan. Be on the lookout for these risky buys.
For more information on buying or selling a lake home, visit the Lake Homes Realty blog or connect with one of our lake expert agents. We wish you the best of luck in finding your dream home!