5 Critical Tips For Buying In A Sellers Market

Dated: July 17 2018

Views: 67

5 Critical Tips For Buying In A Seller’s Market

5 Critical Tips For Buying In A Seller's MarketThis summer, quality homes are being scooped up almost as fast as they’re being listed – and for top price. Yes, it’s a seller’s market out there, which is great news if you’re planning to list your home. For those looking for a home, the competitiveness can be frustrating and aggravating.

Frustrating as it may be, there’s plenty of reason for buyers to stick it out until their offer is accepted. For starters, interest rates are still fairly low. And secondly, there are great homes out there if you act fast enough.

How can you successfully get that dream home in a seller’s market? Here are some top tips:

Stay Dedicated

Make sure that you and your Realtor are on the same page with your must-haves for your new home. Then, make sure you check for new listings daily. If any look good, make an appointment to see it that day. Don’t wait, or it will likely be gone. It can be tempting to make an offer based on listing photos alone, but be very wary of doing this. Go out and see it – and do it quickly.

Start With Your Best Offer

With some good properties gone in a matter of hours, this is no time to nickle and dime a seller. What’s more is that the seller will be unlikely to even entertain the offer and counter it. The best practice in competitive times is to start with your very best offer on the property and give the seller something to seriously consider. Chances are your offer isn’t the only one they’ll be receiving. You want it to make an impression.

Include A Personal Note

Even though they’re essentially getting rid of their property, sellers often like to work with a buyer who is going to appreciate and care for the home they’re purchasing. That’s where a personal note included with your offer to the seller can come in handy. In your note, talk about the things you love about the home and how you know it will be the perfect fit for you and your family. You can even up the ante and include a family photo. 

Make A Significant Earnest Money Deposit

Generally speaking, the larger your earnest money deposit, the more serious of a buyer you are. In a seller’s market, you will want to look for any competitive advantage over the others that are likely to make an offer on a particular property. A big deposit can serve as that advantage.

Stay Patient

Like we said in the opening, a seller’s market can be frustrating for buyers – so try to stay patient. The right home is out there for you, and good things come to those who wait. 

Contact your trusted mortgage professional to get your pre-approval today.

For more info visit: http://www.bondstreetloans.com

Blog author image

Jessica Rojas

Jessica Rojas is an extremely dedicated and committed real estate agent who has been working in the Real Estate field since 1997. She became a licensed real estate agent in 2009 as a sales associate ....

Want to Advertise on this Site?

Latest Blog Posts

Selling Your Home These Easy Upgrades Can Up Your Curb Appeal

Curb appeal is extremely important when you’re selling a home—and it’s especially important now, in the midst of the pandemic, when the exterior of your home might be the only area

Read More

This Fall Cozy Is The New Black In Home Decor

Autumn is here! And while fall is always a cozy time, this year, coziness has officially emerged as one of the biggest interior design trends of the autumn season. A recent article

Read More

6 Lessons In Real Estate That Everyone Should Know

Lesson #1 A man is getting into the shower just as his wife is finishing up her shower, when the doorbell rings. The wife quickly wraps herself in a towel and runs downstairs. When she

Read More

Top Reasons To Sell Your Home During The Holidays

Between holiday travel, holiday parties, and hosting out-of-town guests, the holidays can be a busy time of year. And if you’re selling your home, you might be tempted to take your property

Read More