How to Write a Winning Bid in a Crazy Real Estate Market? - Nati Horev - Post 5

So let's talk about why such a market and how to write a winning bid.  - Nati Horev
#EntrepreneuroftheWeek Nati Horev # Post 5

As we all know because of the low interest rates and the moratorium - which is the government's decision not to evict non-paying residents, whether it is tenants or homeowners who do not pay a mortgage - which also included the ban on electricity / water / gas companies and the municipality to stop services if a person does not pay- Caused a shortage of homes-people do not leave (they have no reason) anyone who has relatively reasonable credit - credit is the American rating system, which directly relates to how a person pays debts, and how many debts are registered in his name in relation to his income and every time a person tries to purchase a large product on loan - Car / house / rental or open an account in his name - electricity / internet / gas / credit card etc. check his credit.
The more he pays on time and does not owe money the higher his credit will be.
A situation has arisen where there is insane demand for properties but no properties .....
Add to that the fact that during the Corona people did not dump, drive, buy, change vehicles - and have cash that can help them in the initial purchase of the property. Add to that the low interest rates and you get a market saturated with buyers and few assets.
So say people are paying too much ... I'm watching the fall of 2008 so why buy ???
Unlike 2008 where people can get from the bank a higher price than the property is worth, today the banks are smarter!
Buying a house where you will live - you can buy with a minimum investment of 5% of the property price (exceptions include military personnel and buyers of the first house)
Investment properties / second property will already be between 20-25% of the value of the property and the more assets you have, the higher the opening amount you will need.
In fact, the banks insure themselves so that it is not worth it to stop paying - the loss of the house will cost you more than continuing to pay / sell yourself and this is how the state ensures that house prices remain strong and do not repeat the prey of 2008.
Property prices are definitely going up but once a house is sold it automatically goes into the pool of houses sold and becomes part of the test when the next house is sold in the area and so the next house is already leaning on it to determine the market price in the sale.
So how do you actually write a winning bid?
1-First of all a good relationship between the realtors- in the end the realtor also has weight ..
2-Clean offer - Most of you buy in cash, which makes it easier to buy.
3-Tests- Tests for information only- relatively short time for tests
The test of the termites pay for yourself and do not let the seller pay.
4- Give the seller what he wants - and this brings us back to section 1- Good communication between realtors - whether the seller prefers a quick closure or actually prefers to continue living in the property and pay rent.
5- Selling a property in Virginia to a seller ranging from $ 1000-2000 Is it worth offering the seller to pay his share? Lots of times people are tempted by gifts but it does not cost you too much.
Successfully !!

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