As you likely know, if you are in the scene, the housing market is very hot right now! It is a very unique time right now as there are more buyers looking to purchase homes than homes available. There is quite a lot of competition right now! There are many people who currently live in the city looking to move out of those areas. Due to the strong competition, there are many bidding wars occurring and homes even selling for more than the asking price. We have a few ideas for you as to how to deal be a part of the competition if you are looking to purchase a new home.
To start with, we would recommend you be proactive and be ready to act at a moments notice! Houses are going incredibly fast. Find out what neighborhood you want to buy a home in so you know what price range you are in store for. We would also recommend that you schedule a house tour as soon as a house in that neighborhood gets put on the market. This will give you a huge advantage as you will be one of the first to see the home.
If you have not gotten pre-qualified yet, we suggest that you do so. This way you are prepared and ready for your next move pretty quickly! Being pre-qualified when going on a home tour shows how serious you are about purchasing the home. This can give you an advantage as well, compared to others.
We would suggest that you make a strong offer so you will unlikely have to deal with a bidding war or a lot of negotiations back and forth. If your offer is very low, the seller may think you are not serious enough and take your offer off the table completely. This could wind up hurting you in the bidding process.
Another tidbit would be to be personal with the seller! This will help you stand out amongst other people and possibly put you on the top of their list or at least communicate with you when it comes to negotiations.
These are just a few tips to helping you get on top of the curve!