Hi
John and Beverly here, with Fine Properties on the Sarasota Suncoast
Today we want to discuss the concept of buying power as a buyer.
Beverly what exactly does that mean?
Well buying power, you know, it really simply just refers to how much house that you, as a buyer, can afford
So what does that mean to a buyer, a seller and how do we use that power in negotiations?
So first you want to understand how much house you can afford and also how much house you want to afford and that could be different
That's true. The bank may tell you you can afford a
$500,000 house
but you may look at it and only be comfortable with a
$425,000 price range so
How do you know what the buying power is?
Well, the way to find out is by going over your numbers with a lending professional. That's how you learn
how much buying power you have when you go to buy a house.
So, yes
We want you, as our buyers, to be educated and to be in a stronger more powerful buying position
even before we go looking at homes, and really even before you look online
When you know, and we know what you want to afford we can close focus and find the home that you're looking for.
Knowing your buying power before starting your home search will help narrow your search by removing the homes that are out of your price range
So we're happy to connect you to a lending professional to help you. Just get in touch with us.
What does buying power mean to the seller, Beverly?
Well
When a seller receives an offer and it does not include the documentation
to confirm the buying power it puts it in a very weak light, especially if there are multiple offers.
So you need to demonstrate your buying power!
For when you submit your offer be sure to submit proof of your buying power
So the seller knows where you stand financially and it gives you leverage over other offers
Additionally make sure that you're working with a qualified real estate professional who can guide you and help you accurately
determine your buying power and we'll use that to negotiate the terms and
Conditions, on your behalf, so that you can get the home you want
So Beverly,
What is the very first step?
The very first step is to contact us and we'll introduce you to a lending professional that you can trust
Call or text us at 941-321-3916
Thank you. Take care. Bye bye.

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