4 Buyer Tips for This Market
Four tips that we’ve been advising buyers to use to get their offers accepted.
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What does it take for buyers to win in this very competitive marketplace?
1. Hire a trusted professional. This is a very competitive market right now and you need someone who’s working the market on a daily basis, can negotiate strongly, and gives you off-market opportunities.
2. Get pre-approved. This especially helps first-time buyers. You’ll lock in today’s rate, so if the rates go up, you have that rate locked in for 60 to 90 days. You can also go in right away and put an offer in if you see a property you like. In most cases, you might be able to put in an unconditional financing offer.
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You might not get the first home you go to look at, but you need to be patient and tenacious.
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3. Waiving contingencies. Sellers sometimes see contingencies as a way for a buyer to get out of the deal. If you’re not competing, you want to keep those clauses in, but if you’re in a multiple-offer situation, you probably want to do the due diligence before the offer date and have your financing ready to go so you can go in with a very strong offer that’s unconditional.
4. Act fast. Homes are selling within three to four days on the market, so you need to go in and see the properties right away. You might not get the first home you go to look at, but you need to be patient and tenacious.
If you have any real estate questions or if you’re thinking about buying or selling, please reach out to us.
