Are you planning to buy a home in a hot market? In today’s competitive market, you really need to be well prepared with your tools. You should be fully aware of your current standing so that when the right time comes to strike the deal, you stand out as a winner. In this article, I will like to share with my readers the tips to be prepared for the buying your dream home.
Get your mortgage pre-qualified– Whenever you are ready to buy your house, make sure to get your mortgage pre-approved. This will help you get a clear understanding of what your affordability is and what you should look for.
Have a realistic price offer- “Start with your best offer as your first offer”. And be realistic. When making an offer on the home there are many factors to consider. Consult your real estate agent. Your realtor has a very good experience of real estate market and knows the transaction history of nearby homes. Make the best offer possible as this also tells the buyer that you serious to make the deal.
Do be flexible on terms in the offer– The kind of money the seller is getting is a big factor in deciding whose offer to accept. If the house is your dream home and you really want to get it, then be flexible. Like show flexibility with the move-in dates or waive off condition for home inspection if you are confident that the house is in a good condition. But in any case, have expert advice. Talk to your real estate agent and get their advice regarding what can be done to make the deal work.
Do not hesitate and miss the opportunity– In today’s hot real estate market, bidding wars are very common. Houses tend to sell fast due to high level of demand. Todays’ market is very consumer oriented and sellers are very much aware of what their homes worth is and WHY. Seller will also try to get the most from this hot market. Do not hesitate to make an offer for the house whatever your situation is. JUST GO FOR IT !!!