Tips on Buying in a Tight Market
Increase your chances of getting your dream house instead of losing it to another buyer, with these easy steps.
Get prequalified for a mortgage BEFORE you do anything. Nothing is more frustrating to a buyer as when they see a house they like and find out later they can't afford it. A good agent helps a buyer put first things FIRST.
Stay in close touch with your AGENT to find out first about new listings that come on the market. BE ready to act QUICKLY. You cannot afford to wait in this type of market.
Scout out new listings yourself. Look at Internet sites, newspaper ads, and drive by your favorite neighborhoods frequently. Your agent isn't the only one who can locate " pocket " listings. Work together to find the perfect home.
MAKE A DECISION QUICKLY. Spend lots of time in advance deciding what you must have so you won’t be unsure when you have the chance to make an offer. This isn't the time to wait for Grandma, and Aunt Sally to come see the home before you decide to make an offer. No laughing matter, this happens frequently. In the mean time, the Seller is quickly signing another buyer's offer.
Bid competitively. You sometimes may not want to start out offering the highest price you can afford, but don’t try to go too low to get a deal. In a tight market, you’ll lose out. Is losing your dream home over a $1,000 going to bother you? If so, present your "highest and best" offer and don't worry about the other guy. You may not get a second chance.
Keep contingencies to a minimum. Restrictions such as needing to sell your home before you move or wanting to delay the closing until a certain date will make your offer unappealing. In a tight market, you’ll probably be able to sell your house rapidly. To take advantage of this market, plan on staying in interim housing until you find the perfect home.
Don’t get caught in a buying frenzy. Just because there’s competition doesn’t mean you should just buy anything. And even though you want to make your offer attractive, don’t neglect inspections that help ensure that your house is sound.
Nothing is more important than working with an area specialist. Using local agents gives you an inside track with these same local listing agents. Looking for home today?
Oh, and the last tip??? Call me. I can help. I'm local expert. Natalie Swanson 925-580-9829 Homes@natalieswanson.com
I help small businesses be more successful.