Winning the Right Home in a Competitive Market

Winning the Right Home in a Competitive Market
https://www.canva.com/design/DADgDIm8Kkg/bHQ02o8q7qSuAmo3y7S3TA/edit?category=tACFal755_E

There have been several hot markets around the country the last couple years and it can be hard for buyers to get the upper edge. Homes are selling for more than the listing price with-in mere days of being posted to the MLS. This can make homebuying stressful and seem hopeless for buyers that often find themselves in high competition with other buyers and bidding wars.  

If you go into your home search with a patient mindset and these tips you can land that home you are looking for.  

  • Get Pre-approved 

Many real estate experts will tell you in a fast-moving market, being pre-approved is not an option when home shopping, it’s a must. Sellers are looking for buyers that can make an offer and back it up with proof of financing to complete the deal.  

When you put in your offer include a letter from your bank stating your pre-approval and that they have already underwritten your loan application. Showing you have solid financial backing will put you above other buyers and sometimes ones with higher offers.  

  • Know What You are Looking For 

Now that you have been to the bank and know a general price point for your new home it is time to do some final decision making. When you made the first decision to purchase a new home you probably had a picture in your head of what your new home might look like, but now its time to sit down with all decision-makers involved in the new home busing process and decide what you really need and want in a home.  

What price do you really want to pay for a home? How large of a home payment are you comfortable with? What neighborhood do you want to live in? What are the non-negotiable needs for your new home? How many rooms do you need etc.? Making these decisions will reduce your search down and help your agent to point you in the right direction to help you find the right home in a more timely manner.  

Related: Simple Ways to Say Goodbye to Renting and Hello to Buying

  • Find an Agent 

Though much searching is started online, most real estate deals are negotiated and closed by experienced local real estate agents. An agent that knows the area like the back of their hand and has relationships with other local realtors will help greatly to give you an edge over other buyers looking at the same homes. So do your homework when choosing an agent to make sure you have one with plenty of expertise. 

  • Be Available 

When you or your agent discover a potential home that has just been listed you will want to be available to view it as soon as possible. In a competitive market, many well-priced homes can sell within just a few days of being listed.  

Read More: Key Negotiating Tricks When Submitting an Offer

  • Make Your Offer Stand Out 

When dealing with competing offers yours needs to be memorable. This is another area where using an experienced realtor can really help. They can advise you on what a strong offer will look like and also get to know the buyer and what they are looking for in an offer from the buyer’s agent to help compile a strong and memorable offer that will get noticed.  

More: 4 Things Not to Do When Buying a House

Getting your offer noticed does take a little finesse but also the knowledge and experience of a great agent that's been doing it for years. Ask your agent about their experience and make sure you choose experience over charisma.

Similar Articles

A kitchen with wooden walls and an island in the centre.

So, you’re thinking of buying a house. Congratulations! Whether you are buying your first house, looking for something bigger, or even downsizing, we’ve got you covered. Buying a house is a huge decision, and it requires time, commitment, and patience to find the right house.

5 Ingenious Living Solutions You Should Consider

If you’re one of those people who think that change is always good – welcome to the club, you aren’t the only one here! Many people will agree that change is the only constant, so keep on reading to learn how to switch up your lifestyle and take it to a whole new level.

Office Space image via Pixabay

London’s commercial property market has not been spared by the adverse effects of COVID-19. While pricing measurements like the house price index ave continued to rise, businesses have suffered and been forced to adapt. Property market players have also embraced modern commercial office trends to offer flexible solutions to businesses.

housing

2020 has been a strange year for everyone. It was from the very beginning of the year, in January, that concern was raised about a novel coronavirus outbreak and potential spread across the globe

What $1,500 in Rent Can Get You in Different Cities Around the U.S.

Looking into the average U.S. rent price you can see huge discrepancies not only from the location within a city but also from city to city. In addition to rent prices, you should take into account the amenities that you’re interested in, see if they come at an extra charge, see what bills are included in the rent price

Overhead view of a row of houses.

Buying your first home is a big step for anyone, and it is important that when you are taking those steps to buy that you are getting the best possible home for your first home. So, here are some things to remember about buying your first home.

tenerife property

The real estate market in Tenerife has been struggling for some time now, but the picture may be more complicated than you realize. While many are waiting around for conditions to improve, it may actually be a great time to invest in this market.

Real Estate in Dubai

With beautiful beaches, luxurious buildings and a lively city full of adventures and activities, Dubai has been quite tempting when it comes to visitors and foreigners. The lifestyle here is quite extravagant and alluring.

house

Homeowners have difficulty selling their houses for a wide variety of reasons. It could be that that sort of property isn’t massively in demand right now, that there’s a dip in the market or even that it’s at a quiet time of year. Generally speaking, no two sales are the same.