How To Buy In A Hot Market, Making an Offer the Seller Won't Refuse
Ask any experienced homeowner and you'll learn that buying in a 'hot' real estate market can be challenging. A high supply of buyers competing for a low stock of available homes is a combination that can lead to bidding wars, price inflation and other headaches. The good news: with some careful preparation and the right mindset, a bidding war is one that you can win. Read on to learn how you can beat out other bidders by making an irresistible offer.
Get Pre-Approved For Your Mortgage Financing
Now that you have a good real estate agent on your side :), you'll want to move to the next step: meeting with a mortgage broker. Your goal is to secure pre-approval for your mortgage financing, which will show the seller that you're both prepared and serious about buying their home. Gather up recent financial information like pay slips, tax returns and bank statements before meeting with a mortgage broker. Being prepared will make the approval process a bit easier.
Have The Inspection Team Ready
Once you have found your dream home, you will need to move quickly to have it inspected. As with your other professionals, it's best to pre-book these companies ahead of time so they're ready to go. Ask your friends and family for referrals now so you can chat with potential building inspectors.
Be Serious About A Quick Settlement Process
Finally, if it isn't already obvious to them, make it clear to the seller that you're interested in settling quickly. Every home seller is interested in a fast, efficient settlement so they can move on. Pushing the pace a bit will demonstrate that you're not going to reverse course.
When you are ready to buy your dream home, our professional team is here to help. Contact us today and we'll share how we have helped others buy some amazing properties. We look forward to meeting you!
