Today, we are going to talk about buying a home in a competitive real estate market. We all know that the real estate market is very tight right now. So let’s discuss five things you can do to ensure that you get the home that you love!
1. Get pre-approved
Let’s be honest, there is no time to be waiting to be pre-approved for a mortgage. It is so important to have that pre-approval letter in hand and have gone through the pre-qualification and pre-approval processes.
2. Stay in contact with your agent
Your agent will know the second a house hits the market. If it is a good house, it will not be available long. You may need to look at that house fast, so be ready!
3. Be ready to make an offer
In the past, we could afford to take a “lets sleep on it” attitude. In the current market there is just no time to do that. Be ready to make a decision within a couple of hours.
4. bid competitively
Your agent will be very aware of the market. Trust that they will know what to bid, how to bid, and what things to include or exclude in order for you to attain the home. Remember, if you bid too low in a tight market you may not get the home that you love.
5. be thorough
Making an attractive offer is important in a competitive real estate market. However, we don’t want to neglect key things like property inspections. After all, you want to make sure that you are making a sound investment.