If you’re shopping for a downtown Boston luxury condo for sale during a seller’s market it can be tough, and certainly more expensive. Here are a few mistakes to avoid.
1. Waiting
While it’s important to feel confident in your decision to buy a Boston luxury condo or high rise condo in downtown, waiting too long to submit an offer in the heat of a seller’s market often means missing out on your dream property. There’s stiff competition, so make sure you have your finances in order, have a pre-approval letter if possible, and be ready to put in an offer on the spot.
2. Not Making a Good Offer
A seller’s market is no time to low ball sellers. They know their place will sell and will likely sell fast. If you try to shortchange them, they might not even counter your offer. If you’re serious about a luxury condo, submit a strong offer–maybe even your best offer–from the start.
3. Going It Alone
In a seller’s market you will do well to work with an experienced real estate agent in downtown Boston. An agent can save you time, stress, and maybe even money. Not to mention, they usually hear of listings before they even hit the market, which can be clutch in a seller’s market.
4. Not Considering a Bidding War
In a strong market, and in a place like Boston, there’s a good chance more than one buyer will want a property. Even if you put in a strong offer and do it fast, you might find yourself in a bidding war. It’s possible the condo will sell for more than asking, so be prepared to shell out or back out.
Find a trusted real estate agent who specializes in downtown Boston by calling Ford Realty at 617-720-5454. You can also check out our current listings online including condos in the Midtown District, Seaport District, and Beacon Hill