Preparing for buying Real Estate in the Spring Market
The Spring market is upon us, believe it or not, and there are two things to be thinking about for buying Real Estate in the Spring Market.
1. Having your proof of funds in order.
The options are one of the following:
- Pre-approval (not recommended in this market, but happy to refer a mortgage broker if need be)
- Letter from your accountant or financial planner vouching that you do in fact have funds to make a purchase. (Not recommended in this market, since sellers may want to see something more tangible).
- Photo copy of account(s) showing the funds to cover the purchase. ACCOUNT NUMBERS BLACKED OUT.
It would be great for your agent to have a copy (of course it would be filed appropriately and kept confidential). Note the date on any letter may need updating, as well as the offer price of the home reflected exactly for negotiating purposes. Please know the turnaround time to get any updated letter.
2. Getting to know the town.
How do you feel about Open Houses? If you want to see anything, please contact me directly. For the open houses on Sunday, I could make up an itinerary mapping out just the ones worthy of you time. It would be good to see some, to help understand the current market values. You can make a day of it, go to the park, have lunch and familiarize yourself with Short Hills and Millburn in Millburn Township. Happy to make recommendations on where to go in town. See my favorite restaurants on one of my resources pages.
Contact Melanie Rosenbaum, CEO of The Rosenbaum Group with Compass RE NJ, for further information.
