It’s no secret that it’s a seller’s market right now. So, for all you home sellers, bravo. But what about you buyers? How do you make it in a seller-friendly market? Here are a few ways you buyers can get the most out of the market.
- Make sure you’re pre-qualified for a loan before you really start house hunting. Getting pre-qualified can take some time. If you’re ready to put an offer on the home, but the buying process is put on hold while you wait to see what kind of loan you can qualify for, the seller may not be willing to wait. You don’t want this to be the reason you miss out on a great home. Click here to get pre-qualified.
- Don’t hold back from making a good offer. According to TheFiscalTimes.com, “Less than half of today’s sellers take the first offer they receive.” If your offer isn’t ideal, home owners aren’t feeling pressure to take it. You’ll most likely be outbid. If you want that house, don’t hold back on your offer, and be prepared for a possible bidding war.
- If you’re ready to buy, put in a offer right away. The longer you wait to put in an offer, the more likely that someone else will swoop in and put in an offer that the home owners can’t refuse. If you’re ready, don’t wait.
- Work with an agent. If you want a great deal when buying in a seller’s market, this is the best way to go. In a similar article by Trulia they said, “In a seller’s market, it benefits the buyers to get all the help they can get.” We know the market’s ins and outs and will know how to go through the process more quickly and efficiently. We know what’s on the market and what’s not, and we know how to negotiate. Working with a realtor really gives you that extra advantage.
It may be a “seller’s market,” but that doesn’t mean that buyers can’t come out ahead. Buying in a seller’s market is really just about strategy. Ready to buy a home? Give me a call today and I’ll help you through the process so we can get you a great deal! 602-492-1565 Click here to read my blog on things to keep in mind when buying a home, so that you’re ready to go!