Don’t let the snow-covered lawns and cool temps fool you, spring is right around the corner, which means Lake George & Bolton Landing real estate is already starting to heat up. If you’re planning to buy a home in the Southern Adirondacks, here are 4 tips to help you get ahead of the competition in the busy spring real estate market.
Ask About Homes that Aren’t Listed Yet
In winter and early spring, many sellers are still readying their homes for sale. If you’re working with a Lake George or Bolton Landing real estate agent and your move-in date is flexible, ask your agent if they know of any homes that aren’t listed yet, but that will be later in the spring. You might just get an early peek at a house that won’t be on the market until May or June.
Obtain a Mortgage Pre-Approval
Even if you think you’ll have no problem getting a mortgage, the seller doesn’t know that, so it’s important to get a mortgage pre-approval. Speaking to a loan officer prior to starting your home search will also ensure you know how much house you can afford. He or she can help you estimate down payments and closing costs, and may even be able to offer advice for improving your credit score quickly and securing a better interest rate.
Put More Money Down
In the busy Lake George & Bolton Landing real estate market, competition can be fierce. To make your offer stand out, consider making a larger earnest money deposit in addition to your down payment, or putting down more than the standard 20%. For those homebuyers who can make an all-cash deal, the seller may be more likely to accept your offer, even if it’s less than what others are offering.
Get a Pre-Offer Home Inspection
If you don’t have the finances available to put more money down or make an all-cash deal, you can still get a leg up on your competition by removing the home inspection contingency that is included in most purchase offers. While skipping the home inspection in not recommended, you can get it out of the way early by hiring a home inspector to do an inspection before submitting your “best and final” offer. This shows the seller that you are a serious buyer and can make your offer more desirable if they are trying to close quickly.
More Tips for Home Buyers & Sellers in Lake George or Bolton Landing
Looking for more advice to help with house hunting in Lake George or Bolton Landing? Check out these Top 3 Things to Do When Stating Your Home Buying Search or read these Tips for Buying a Second Home in Lake George NY.
For those hoping to sell this spring, check out How to Prep Your Lake George Home to Sell This Spring or What to Do If You Need to Sell Your Home Quickly.
Holly Dansbury is a Bolton Landing Real Estate Agent who not only works in the Southern Adirondacks, but lives here, too. Search homes for sale in Lake George, Bolton Landing and the surrounding Southern Adirondack Region or call (518) 321-1870 to speak with Holly directly.