Information for Buyers and Sellers on Today's Market in Sought After Communities in Newly Formed School Districts of Arlington TN 38002, Lakeland TN 38002, Collierville TN 38017 and other Area(s) by Real Estate Expert Chris Griffith with First National Realty

                      ARLINGTON, TN 38002

                                                                                     COLLIERVILLE, TN 38017

  

 

 Today's Market is NOT the Market of this time last year! Buyer's should be Prepared for paying Market Value or more due to the increase in moving into the Newly Formed Schools Districts of Arlington TN 38002, Lakeland TN 38002, Collierville TN 38017, Germantown 38138 & 38139 and other Area(s).  The Markets are Very Active and not only are owner occupants looking to buy, but they are also competing with investors for the same properties! Anyone looking to buy or sell should be prepared: Buyers will still ask for sellers to pay for closing costs and prepaids, but this is not always a must and with multiple offers sellers do not feel the need to pay and help with this fee. If buyers are looking to be the winning bidder on a property then be prepared to write a clean offer: of course contingent on the home inspection and the findings in the report, contingent upon clear title and termite inspection. Any additional concerns should be written into offer as well, but not only will closing costs and prepaids be an out of pocket cost for the buyer  but the buyer(s) also have the down payment.  The Down Payment required depends on the type loan for example: FHA is 3.5% of the agreed upon sales price, Conventional is 5%, VA loans do not have a down payment but still have closing costs and prepaids. Sellers may still be willing and able to help with buyers assistance of closing costs and prepaids, but that is an option for the sellers. Some advice may be to add to the price to get te numbers to work as long as the agreed upon sales price will still deliver comps for the adjusted price in the contract - you want the property to appraise! Be approved prior to writing an offer or have your letter of available funds ready if paying cash, this is crucial to being taken seriously and have your offer even considered while still trying to get into a property before someone else! There is a lot of great information available and it is always suggested you have an experienced Real Estate Professional to help guide you through the process in order to achieve a successful closing from start to finish! This is a great time to buy with still historically low interest rates and if looking to sell then the market is HOT! Contact Chris Griffith with First National Realty with questions and for local real estate information in Arlington TN, Lakeland TN, Collierville TN and Germantown TN. Email Chris: Chris@FirstNationalRealty.com or contact Chris Direct: 901-461-5590 whether looking to buy, sell or invest in Arlington TN 38002, Lakeland TN 38002, Collierville TN 38017, or Germantown TN 38138 & 38139 Real Estate!           

Chris Griffith 

First National Realty

Email: Chris@FirstNationalRealty.com

Direct: 901-461-5590

Office: 6423 Summer Gale Dr. Memphis, TN 38134