Buyers I get how frustrating the market is for you right now! That is why it is more important than ever to have a designated advocate by your side! With such fierce competition out there, you need to be overly prepared and be ready to bring your best game (giving up an organ might be required too) but in all seriousness there are buyers who have been competing and they are ready to win!
If you are even considering buying you need to start preparing now because if that house that you have been dreaming of comes on the market, there will already be multiple buyers wanting it as well. You need to be quick and you need to be flexible in this market. We can guide you through writing an offer, explain contingencies, give you expert advice we have learned from experience, and help you win the house but not lose your money!
Ask questions! Is your agent you’re working with good at communication and I’m not talking about sending a text or email, do they communicate well with other agents, lenders, etc. Many deals fall apart in the real estate world due to lack on communication. It is a key to success!
There is strategy when writing a winning offer and that usually starts with a phone call to the listing agent. What is the seller looking for in an offer? It’s not always about money, do they have another house pending and want a quick close? Sellers want to sell to serious buyers; they don’t want to put the house back on the market. Having your ducks in a row helps to convey this.
Do you have a local lender? Yes, it absolutely does matter! Big credit unions and tech lenders won’t see you around town after you move into your new home. Local lenders will go the extra step for you in a competitive market.
Do you understand your contract and what contingencies you may want to waive and what ones you shouldn’t? And the risks if you do or don’t? Real estate is one of your biggest investments it should be taken with care. It’s important to ask questions and understand time frames. Your realtor should explain these in full detail.
Keep inspection periods short or have a pre-inspection. Many buyers are getting pre-inspections before making an offer to have a winning chance. Yes, there can be risk of still not getting the house, but you do increase your offer power! If you choose to or cannot do a pre-inspection keep it to 3 days or less.
Have cash. Buying a house has many out-of-pocket costs including earnest money, inspections, appraisals, etc. The more cash you can save and have on hand will help alleviate some of the stress.
You need to be prepared in this market and working with a professional will help set you up set you up for success. If you want to talk further, give me a call/text/email and I would be happy to meet with you over coffee or zoom to discuss how you can become a home owner!