Win That House: Insider Tips On Buying Your Dream Home in Brooklyn!

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Parent Category: Newsflashes

Category: Newsflash

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Have you seen this viral Tik Tok about the absurdity of the NYC real estate bidding war? So, it’s definitely hilarious, but the reality can be frustrating, exhausting, and even heartbreaking. 

Competitive bidding aside, the Brooklyn home-buying process is nuanced. Here’s how you avoid frustration, exhaustion, and heartbreak -  and win that house: 

1. Hire an experienced buyer’s agent. It’s a misconception that you can do this on your own. You already have a job. And, “going direct” to the seller’s agent will not improve your chances. The seller will choose the offer they like best that gives them the most confidence. A good buyer’s agent will put together a professional, compelling offer AND give the seller confidence that the many steps leading up to closing will be handled properly. Curious about what those steps are? Watch our webinar!

2. Be more prepared than the next buyer. The market is ultra-competitive and desirable properties move fast. If you like a house, lots of other people probably like it for the same reasons. While you’re getting your ducks in a row, another more prepared buyer will swoop in and make a deal. At the start of your search, deliver everything your agent needs to quickly submit an offer. This includes a current mortgage pre-approval letter, proof of funds for the down payment (or entire purchase price), the name and contact information for your real estate attorney, and an editable draft of a personal letter to the seller. If you’re looking at properties that need renovation, have your contractor and architect on speed dial. 

3. Eliminate the term “asking price” from your vocabulary. Price is a strategy, not an expression of value. What sellers are really “asking,” is that buyers pay as much as possible for their home. “I can’t accept your offer because it’s more than I was asking for,” said nobody ever. A property is worth what someone is willing to pay. In a competitive market with interest rates holding at historic lows, many buyers are willing to pay over list price. There is value in acquiring your dream home. A home that will only increase in value over time. Don’t lose it because you are fixated on the “asking price.” Work with your agent to crunch the numbers. Is another $30,000 really that much of a difference on your mortgage? If you found out that you lost by $20,000, would you regret not coming in stronger? Ask these questions at the start of your search.

4. Listen to your agent. Everyone is an armchair broker, but we do this for a living, every day at the highest level. You hired us to help you navigate a nuanced, complex, and high-stakes process. You were smart to hire us, now be smart enough to listen to our advice and follow our guidance. If we give you a strong recommendation, it’s for a reason. The attorneys and mortgage professionals that we recommend can and will give you an advantage when it comes to getting a deal to closing. When we set a fast pace, it’s because we know what’s required to secure the transaction. Remember - buyer’s agents only succeed if their buyers succeed, so we are very much on the same team!

We can’t possibly cover everything in a short article, but we’re always happy to tell you how the sausage is made. If you’re interested in learning more, please reach out for a private consultation or follow us on social media.

The Saghir Lewis Team has emerged as a dynamic force in Brooklyn real estate, and has redefined the art of selling property. Principal partners Alexandra Como Saghir and Tyson Lewis balance a business-minded approach to the sales process along with empathetic engagement with their clients.

Insight into Adolescence with Michael Davidovits, PhD, LCSW

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Category: Parents of Tweens

Dr. Michael Davidovits, one of PSP's trusted experts in child and adolescent psychology, joined us for a webinar and shared insight into our tweens and teens through the filter of this challenging year.

Are you a parent in Brooklyn? Join PSP today to connect with our Tweens & Teens Group and build your support network. Already a member? Join the Tweens & Teens group here.

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