I often hear from buyers and agents about how difficult it is to make a winning offer on a home in a seller’s market. Well, I’d like to share a few tips that can help you nab a home during even the most competitive of seller’s markets:
1. Meet with a lender. They’ll check your credit and get you pre-approved. This helps to establish the price point you should be shopping in, as well as uncover any issues with your credit that need to be addressed.
2. Complete a homebuyer consultation. By consulting with your Realtor, you’ll learn everything you need to know about the home buying process. You’ll also be able to discuss your goals with your agent, and they’ll gain a thorough understanding of your situation and what you’re looking for. If you’re on the fence about having an agent, they’ll also tell you why having one is the best way to ensure your goals are met.
3. Go look at homes. When you see a listing that stands out to you, you need to go look. You never know who else is eyeing the same home, and with homes being sold within 72 hours or less in some instances, there’s no time to lose.
4. Make a strong offer. If you’ve found the home you simply can’t miss out on, make the strongest offer you can. This works especially when there are multiple offers on the home. To stretch your offer further, you want to submit strong due diligence and earnest money deposits. You don’t want many contingencies in your offer—in a seller’s market, sellers will never go with a buyer who has a contingency to sell their own home first. You also want your agent to submit a pre-approval letter. Finally, sending the seller a heartfelt letter about why you want their home can work wonders.
If you’re looking to buy a home, have any questions, or need further information, feel free to reach out to me. I’d also like to hear your suggestions for future video topics. In the meantime, I look forward to hearing from you soon!