Considering buying a home in this real estate market? Competition is fierce, and other buyers can be ruthless.
Bidding wars are more and more common, and buyers often get caught in a multiple offer situation.
- Set your emotions aside. In this market, you want to try and detach yourself from the outcome and look at your offer from the seller’s point of view.
- Get your finances in order. You must be pre-approved for a mortgage to show you are a qualified buyer and can act quickly. Many buyers and listing agents prefer to work with lenders who are familiar with the local market, not large national companies out of the area.
- Consider waiving contingencies. A majority of sellers see them as roadblocks to a sale. However, you should only waive contingencies if you are extremely confident.
- Move quickly and be flexible. Be prepared to show a seller that you are ready and motivated to buy – be appealing to the seller.
- Be willing to compromise. Try and look at the big picture and be willing to compromise on the smaller things.
If you are considering buying, connect with one of our team members for experienced service.