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

PoshSTLHomes.com

Get Multiple Offers to Buy Your Home

For months (years), we have heard the news that we are in a seller’s market – meaning there are not enough homes for sale to meet the demand of home buyers.  Often in a seller's market, the time it takes to sell a home is decreased and the possibility of multiple offers is increased.

 

This news could cause dollar signs to start dancing before your eyes.  Before you count your cash, there are a few things to consider.

 

TIPS ON HOW TO GET MULTIPLE OFFERS FOR YOUR HOME

 

Price Your Home Competitively ~ When a home is priced and marketed correctly, your chance of getting multiple offers is increased.  The longer a home sits on the market, the longer its days on the market grows and with that comes a sense of staleness…thus reducing your negotiating power.

 Spruce Up Your Home ~ “Move-in Ready” is music to a buyer’s ears.  Walk through your home as if you were a buyer and fix up those areas that don’t reflect well on your home.  Putting in a little elbow grease before your home is listed for sale could net you a larger profit.

 

Build Anticipation ~ As the #1 Real Estate Company in the metro Saint Louis area, we use our unique marketing tools to build anticipation in the market.  With the largest number of agents in the area, our listings are shared with our associates even before it is listed on the MLS.

 Listen To Your Realtor ~ We will supply you with sound advice that comes from experience in all types of real estate markets.  For example, it’s best not to get emotional when you receive offers to buy your home.  High offers with a long list of contingencies are not always the best offers.  We will be able to help you differentiate between solid offers and questionable offers.

 

If you are thinking of selling your home, contact us for a free, no-obligation consultation. 

 

(314) 348-4033