When it comes to buying a home in a hot market, you have to bring your ‘A’ Game. There are too many others out there looking for their dream house, just like you. This means you need to set yourself apart from the rest of the candidates in order to stand out. There are a variety of things you can do to give yourself the best shot possible.
Hire An Agent
Home buying is a difficult process that requires a lot of time and energy. Though, if you are a hard working, busy member of society like the rest of us, who can barely spare a free moment, do not despair! That is what a real estate agent is for! The right agent is so important for your cause. He or she should be your navigator, cheerleader, therapist, and paperwork extraordinaire. Take advantage of the expertise and knowledge at your fingertips; it will make all the difference.
Get Your Ducks In A Row
If you are new to the home buying process, your real estate agent will be able to let you know exactly how to prepare for battle. Anything you can do in advance of putting in your offer will only benefit you in the long run. For example, get prequalified for a mortgage; speak with a number of lenders about interest rates, and make sure the one you choose will be able to close loans quickly. A hot market waits for no one.
Express to the seller that you are completely willing to work with them on the terms of the offer. Since you are essentially at the mercy of this person, the more you can do to sweeten the deal, the better. These could include offering a quick closing, waiving inspections, and delaying buyer possession. If you scratch the seller’s back, the seller is more likely to scratch yours. Being able to make these accommodations could be the key to your new home.
That said, there is a certain amount of luck that comes into play. Do not get discouraged if you do all these things, and still have not staked claim on a new property. You can not possibly control everything or the decisions of the seller, so do not get too down on it. Stay on your toes and do not give up. The home of your dreams is out there, and you will find it!Posted by Greg Dewar on