As a Buyer, How do I Compete in a Sellers’ Market?
We are definitely in a Sellers' market but even in the current market, there are things you can do as a Buyer to help your offer stand out.
Put on your running shoes! Just kidding, maybe… 😊
Seriously, you can do this! We are definitely in a Sellers' market but even in the current market, there are things you can do as a Buyer to help your offer stand out. It will require patience, but it should because it’s one of the biggest decisions you will make so don’t rush it and don’t let the “hype” influence you. When you find the right home, you will know it. Just be ready to move! The market is highly competitive and has been since the beginning of 2021. If you are considering a house search, keep these tips in mind.
First, know that listings go quickly (if they are any good) and usually go above list price. This is not typically the case in a normal market, but there’s nothing normal about it right now. Therefore, it is important that you have already been pre-qualified to purchase before you find the home you like. What does this mean? Work with a preferred lender that can guide you through this process. Have a conversation with your Agent and lender to understand the financial obligations you will have when purchasing a home (earnest money, down payment, pre-paids, etc.) and plan accordingly.
Once you find a home, talk with your agent about additional terms within the offer that may help your offer stand out from the rest. (Closing date, due diligence, right to request repairs, contingencies) Your AtHome & Co agent will discuss a strategy that not only protect your interests, but also wins you the home of your dreams!
Our work is much more than real estate. Our work is your life, your dreams, and building your legacy. Our team approach is designed to use our combined knowledge, experience, and skills to provide a service that you deserve. – AtHome & Co