Saving money for a down payment on a home is no easy feat, which is why I started looking into various ways to make sure that I had things sorted out like I should. I began working with a real estate agent to chat about what to do and how to start saving, and they explained how much I needed if I wanted to avoid private mortgage insurance, and when the market typically trended upwards. It was really neat for me to see everything I could do with the advice, and saving became easier after I had a clear goal. Find out more about real estate by reading this blog.
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3 Things To Know About Coming Soon Homes
Cathy Frazier
There are times in real estate when homes are not listed on the market yet but will be soon, and these homes might be advertised in advance as "coming soon" homes. A coming soon home is one that will be listed soon but is not yet, and agents often do this as a way of getting the word out about a house before actually listing it. If you are looking at homes for sale and are having trouble finding one you like, you should know the following three things about coming soon homes.
They may only be advertised on agent websites
A home that is not yet listed but instead is labeled as a coming soon home is not a house that you can find on the MLS. Instead, you will only find homes like this on the websites of real estate agents and agencies. When agents are preparing to list a house and consider it a coming soon home, they may advertise the listing on their websites for a couple of days or weeks before they actually list the houses on the MLS. The homes listed as coming soon homes are not really for sale yet, but they will be soon.
The reasons agents do this
There are several reasons agents will sometimes pre-list a home as a coming soon home, and one of the reasons is to get an idea of interest in the house. When a house is listed as a coming soon home and the agent begins getting a lot of calls about it, the agent will know that there is a good chance he or she will sell the house fast. Secondly, agents do this to have exclusive rights to sell a house. If a house is not yet listed on the MLS, only the agent that will be listing it will have the ability to sell it.
You can have first dibs at the house
If you are currently experiencing problems finding a house that suits your needs, talk to a real estate agent about coming soon homes. There might be some that you will really like that are going to be available for sale soon, and if you can find these now, you can have first dibs at buying one of them.
If you are interested in buying a house but are having problems finding a house that offers what you want, you may want to talk to a real estate agent about coming soon homes.
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