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Best Tips for Buyers in a Seller's Market
We have the knowledge and resources to find your next home. If you are buying a home in today's Real Estate Market, you will want these tips.
How to get under contract
Be prepared for some multiple offer situations. Your agent should find out what is most important to the seller before you submit your offer. Knowing if price, contingencies, or occupancy are hard points for the seller can help you get your offer accepted over others
Present yourself in the best possible light. Have a pre-approval ready to go with the offer, and if sellers disclosures are available sign off on them to let the seller know you are willing and able to move forward with the transaction if they choose to work with you. Another helpful hint is to go big on the earnest money deposit. Since the earnest money deposit goes towards your closing costs and down payment at closing, there is very minimal risk to show the seller how serious you are.
Be prepared for a bidding war and having to act fast. The best strategy is being prepared and acting quickly. Including escalation clauses signals to the seller you are serious about your bid. However, if you are shopping at the top of your budget, and escalation clause could cause you to pay more than you can potentially afford. Have open communication between your agent and loan officer so they can better advise you on how to handle these processes.
It is tough out there
These tips should help you get your offer into escrow. As your agent, we want you to get the house just as bad as you do. Listening and taking in professional guidance from your agent and loan officer are going to save you major headaches. At A Squared Realty, we promise to work hard on your behalf and are committed to getting your offer accepted.