Since we’re in such a hot seller’s market, it can be difficult for buyers to find homes. Even if you find the right home, other eager buyers are creating fierce competition that you’ll have to overcome. However, there are a few tips that can help you get your offer accepted. Here’s what you can do:
1. Show the sellers you’re qualified. Work with a local lender to get pre-approved for a loan. This is different from pre-qualification, which is essentially just a credit check. A pre-approval looks into your income, validates assets, tax returns, and more. This shows sellers that you’re able to purchase their home.
"Since we’re in such a hot seller’s market, it can be difficult for buyers to find homes."
2. Give the sellers time to move. You can give them extra time to find a property, and this may make your offer stand out more. Have your agent call theirs to find out what’s important. Obviously, price is a factor, but many sellers also need time to find a new place. Conversely, they might want to close quickly. If you can be flexible, it may put your offer over the edge.
3. Write your best offer. It’s nearly impossible to negotiate in this market, and there are simply no deals right now. Homes are going at or above listing price, and you’ll likely want to go above. You’ll also want to be flexible on your terms.
4. Find pre-market homes. Inventory is low right now, but you can work with your agent to find homes that are coming onto the market soon. Your agent can reach out to their network to find out who may be selling in the future.
I hope these tips have given you a better idea of how to navigate our market as a buyer. If you have any questions or would like more information, feel free to reach out to me. I look forward to hearing from you soon.