As a buyer in a sellers’ market, sometimes it can feel like you’re stuck between a rock and a hard place. When you’re ready to make an offer on a home, remember these easy tips:
- Know Your Budget
Knowing your budget and what you can afford is critical to your success. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan.
- Be Ready to Move Fast
With houses selling quickly, staying on top of the market and moving fast are key. The sooner you see a home, the more time you have to work out things like pre-home inspections and other contingencies to put together your best offer.
- Make Your Best Offer
Once you have found a home you love, be prepared to make your absolute best offer. Since you may be competing, this usually means offering the list price, then being willing to escalate up to the point where you don’t care if someone else gets the home.
- Be a Flexible Negotiator
When putting together an offer, the contract contingencies (conditions you set that the seller must meet for the purchase to be finalized) are just as important as the price you offer.