08/21/2025
🚩🚩Are Waiting to buy when the interest rates drop?? 🚩🚩
🛑🛑Here are 5 reasons this puts you at a HUGE disadvantage as a buyer, and could actually cost you MORE:
1.) 🔴You will likely OVERPAY for your home. 💸💸. The competition a lower rate will bring will mean offering over asking for a home. This creates room for other buyers to offer to oay appraisal gaps to get their offer accepted and push out other, less secure, offers!
2.) 🔴TERMS: with a lower interest rate and buyers flooding the market, there is very little room to negotiate any terms in your favor: 👎🏻👎🏻keep reading!!
3.) 🔴REALTOR FEES: In a less competitive market, the seller is usually obliged to pay a buyer’s broker fee. But when multiple offers are presented and competition is fierce this will be a fee that can fall back on the buyer. 💸💸
4.) 🔴When the market is more abundant with listings, a buyer can ask the seller to pay 3-6% of their total contract price- when there are multiple offers, the seller can choose not to pay and these funds will be required to be brought to closing by the buyer. 💸💸
5.) 🔴You are more likely to settle for a home you don’t even care for! 😢😢 in a market flooded with competing buyers, where houses are under contract in 2 days or less, you are more likely to have to “take what you can get” rather than shop for what you love.
💥💥🟢The BOTTOM LINE: do not wait to buy, you can have it all- BUY NOW! 🟢💥💥
If/when those rates drop- there’s no competition to refinance your mortagage to the lowest rate!! 💰💰💰
