Have you noticed that there are fewer homes on the market these days? Here are seven tips that will help you have a successful purchase even in a tight market like this:
1. Get pre-qualified for a mortgage. It’s very important that you understand what your budget is and what comfort level you want your payment to be at. This also helps us make a very firm offer and you will appear more serious to the seller.
2. Stay in close contact with your agent. We’re always on the lookout for the latest and greatest home that meets your criteria, so you need to be ready to see it at a moment’s notice. Speed matters in this market.
3. Scout out new listings for yourself. Don’t be scared. Go ahead and browse our website, set up a saved search, and drive through neighborhoods to see if there are any homes out there you haven’t found online.
4. Be ready to make a decision. You never know, you might fall in love with the first home you see.
5. Bid competitively.If you go in too low in a tight market, you’ll lose out on the home. Make a strong initial offer.
6. Keep contingencies to a minimum.Restrictions, such as needing to sell your home before you can move forward with an offer, can make it really unappealing. If the market is hot, chances are that you can sell your home just as quick.
7. Don't get caught in a buying frenzy. Just because there is competition for a home, it doesn’t mean you should buy it. Even though you want to make your offer attractive, don’t neglect inspections that help ensure that the house is a sound, solid investment.
My final and most important tip is to have a trusted agent in your corner. We will give you the best chance of winning the house of your dreams.
If you have any questions for us in the meantime, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.