When preparing to purchase a home, you need to ensure that you are ready to enter a market that caters to sellers. At this time, there is a decrease in the number of homes that are listed on the market, and the ones that are listed have less competition to contend with. Since this is the case, you have to be ready to jump into action when you spot your dream home. Otherwise, it may not be there when you decide you want to make an offer.
You want to beat other potential buyers to making an offer. This will allow the seller to think more seriously about what you are offering them. In a seller’s market there are no guarantees.
Here are five ways you can stay on top of the competition.
Find A Good Agent.
There are thousands of agents available to help you buy a home. However, you want an agent who will go a step further by talking to the agent who listed the home, and find out what it is the seller is looking to get out of the deal. Seek the help of an agent who is truly knowledgeable about the local market. This will better your chances when deciding on what type of offer to present to the seller.
A seller always wants to deal with buyers who can capitalize on their offer. Otherwise, there is no since in doing business with them. Deals that fall through are a waste of time for both the seller and the buyer. You can avoid this by going through a pre-approval before viewing homes. This will give you a better idea of what you can offer the seller, and speed up the buying process.
If a home is listed at a good price it will not last long on the market. A buyer should never wait to go view a home. Once they learn the home is available and they are interested, it is important to schedule a time to view it. If you wait until the weekend, the house could be gone.
This might sound strange, but sellers are more likely to take an offer if they like the buyer they are dealing with. Take time to talk to the seller. Share some stories or exchange a few jokes. Being personable will help when it comes down to decision time. Sometimes this may not be an option, but when it is you should always take the opportunity to use it to your advantage.
Know Your Budget.
Go into a bid knowing what you can afford. You never want to get carried away with a bidding war, and get to a point that the home is out of your budget. You have to know when to step away from a deal. There are other homes available.
If you are a buyer who has found the home of your dreams, but are now faced with the dilemma of selling your own home, I can help. I buy homes and can offer you a quick sell option. Contact me today to see how I can help you.