The Fairbanks and North Pole Real Estate market is extremely dynamic.
Due to the cyclical nature of when people move to and from our market, the vast majority of homes are purchased and sold between March and July. This is due to many factors, including the school year, military relocation schedules, and that moving in the winter is not an enjoyable prospect. Because of the frenzied pace of our market, and that great homes usually receive multiple offers, it is imperative to be prepared financially to make a strong offer on a home when a great home hits the market. Finding a Realtor that understands the negotiation techniques to give you a competetive advantage is essential to success. Once you have found an expert Realtor, you must secure financing, and set aside earnest money for your purchase. I have unfortunately seen too many buyers lose the home of their dreams because they delayed applying for a loan, because they wanted to find the right home before getting pre approved by a lender. I have also witnessed buyers lose the home of their dreams because they didn’t have adequate earnest money to accompany their offer. In the Fairbanks and North Pole markets, customary earnest money is two percent of purchase price. You can get by with less, however it doesn’t make the purchase agreement as appealing to the seller. You must also understand that the highest priced offer is not necessarily the strongest offer. Purchase price is an important aspect, but not necessarily the most important. I have seen many sellers take a lower priced offer in a competing offer situation because the lower priced offer was cash, had a larger amount of earnest money, removed inspection or appraisal contingencies, or didn’t ask for buyer closing costs to be paid for by the seller. This seems extremely complex, however your expert Realtor at Hedgecock Group Real Estate can guide you to success if you allow them.