Sunday, February 12, 2023

Tips on Buying a Home in a Tight Market

 


Increase your chances of getting your dream house instead of losing it to another buyer, with these easy steps.

1.    Get prequalified for a mortgage loan.  This will allow you to be able to make a firm commitment to buy and make your offer more desirable to the seller.

2.    Stay in close contact with your Realtor, as we find out first about new listings that come on the market.  And, be ready to go see a property as soon as it goes on the market.


3.
    Be ready to make a decision.  Spend lots of time in advance deciding what you must have, so you won't be unsure when you have the chance to make an offer.

4.    Bid competitively.  You may not want to start out offering the absolute highest price you can afford, but don't try to go too low to get a deal.  In this tight market, you'll lose out.

5.    Keep contingencies to a minimum.  Restrictions, such as needing to sell your home before you move or wanting to delay the closing until a certain date, can make your offer unappealing.  In this tight market, you'll probably be able to sell your house quickly.  (You can also take with your lender about getting a bridge loan to cover both mortgages for a short period of time).



6.    Don't get caught in a buying frenzy.  Just because there's competition doesn't mean you should just buy anything.  

Ready to get started?  Contact us to ensure you have expert, professional representation when buying and selling a home.


(314) 348-4033




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