Georgia Conditional Offer
One way of ensuring that you get the Georgia house that you want is by making a conditional offer. In a house purchase, a conditional offer refers to an agreement between the seller and the buyer (you) stipulating that the exchange will happen once specific conditions are met. The conditions could be set by either the seller, the buyer or both. For you as a buyer, your conditions could depend on the house’s inspection or appraisal report. On the other hand, the seller’s conditions can include a mortgage pre-approval letter or proof that you have the necessary cash.
A simple look at Georgia’s mortgage landscape will tell you why a conditional offer is a great idea. The average property value of a single-family home is $124,739. That is more than affordable for any homebuyer regardless of which type of mortgage loan they are using. This goes a long way to explain why Georgia is one of the fastest growing states. Before the mortgage crisis, the growth rate was a whopping 18.3%.
Though it has reduced slightly, it is still high enough to account for the high competition in house purchase bids. There are after all, amazing coastlines, great college towns, and wonderful diversity that attract homebuyers to this southern state. You might see a house in up for sale today and tomorrow a homebuyer snatches it out of the market. The only way to outdo competition is through a Georgia conditional offer. That way you will be able to convince the seller to tie up the home for you.
In some cases, they can even take it out of the market altogether, depending on the conditions. Need to make a conditional offer? Let Moreira Team help you with that. We have Georgia mortgage experts who know exactly what you need to do to take the house off the market, even before you pay for it. Contact us today for more.
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