If you’re a buyer entering a seller’s market, here are five tips that will have you ready to get the best home you can.
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If you’re a buyer entering a seller’s market, how can you prepare yourself to find and land the best home available?
First, don’t do your home search alone. There are many real estate websites out there (Zillow, Realtor.com, etc.) that allow you to search for homes by yourself, but these sites aren’t always accurate or up to date because they’re not synched directly with the MLS. You might find a home that you love on one of them only to learn that it went under contract two days prior. This is why hiring an agent who can do the searching for you is something I always recommend. They know exactly what you’re looking for and they can send you available homes as soon as they hit the market.
Secondly, get pre-approved before you even start looking at homes so you’re ready to make an offer right away. If two competing buyers make offers with the same terms on the same home but one of them doesn’t have a pre-approval, the seller will choose the offer with the pre-approval.
Hire an agent to do the searching for you.
Third, plan on looking at homes during the week. Don’t wait until the weekend to look at homes because they’re not going to last that long. If you see a home you like during the week, call your agent and let them know you’d like to take a look at it that day.
Fourth, go the extra mile to make your offer stand out. One way you can do this is by waiving the inspection contingency. Do the inspections anyway, but do them for your own knowledge. This shows the seller that by accepting your offer, they’re not going to have to worry about another negotiating period.
Lastly, ask your agent about a home sale contingency. If it’s necessary for you to sell your current home to purchase your next one, talk with your buyer’s agent about how they can tie that in with your offer.
If you have any questions or have a topic in mind you’d like me to discuss in a future video, please don’t hesitate to reach out to me. I’m happy to help.