4 Things Buyers Need to Know in a Seller’s Market


4 Things Buyers Need to Know in a Seller’s Market

We know all too well that in a Seller’s Market the homes that are listed will disappear fast. The only way to stay ahead of the curve is to be able to act fast. Here are some ways for Buyers to stay current in the fast growing real estate market.

 

  1. Be Available!

Stay alert during the day by checking vigorously what new homes might be listed. There are not that many homes being listed so not checking every so often could cause you to miss the home you are looking for. Treat it like a job search.

 

  1. Have your Pre-Approval Letter, Ready!

There is no point spending all of that time with your bank or lender to get the Pre-Approval Letter for nothing. Have it with you at all times, you never know when it might be good to have it. It will also be a good idea to have a “proof of funds” form as well. This can be provided by your current banking institution. This will alleviate any concerns of down payment ability.

 

  1. Eliminate Useless Contingencies

This one might be a hard pill to swallow, however, if it is a contingency that you feel that is not a huge priority to have immediately, consider the cost of possibly adding it into the home at a later time to be able to get into the house now. Limit the amount of obstacles in the way of a sale for the Seller and you will most likely find an easier path to the closing table. Be aggressive.

 

  1. Search: Don’t Limit Yourself

There might be a dream home just outside of your search area. You would never know of it if you do not broaden your home search area. The caveat to this is to make sure if you do find a home in this outer area to do your due diligence to ensure that there is nothing damaging about the home that could be potentially scaring off other prospective buyers. This route can result in a renovation project.

 

In conclusion, it is safe to say that finding a home in a Seller’s Market can prove to be a little challenging. However, with the right Realtor and the persevering mentality, anything is possible. Stay positive and be prepared to act fast when an opportunity arises.

 

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