Today’s housing market is challenging to say the least. Many home buyers get frustrated when they are faced with a slim selection of listings and competing purchase offers above list price.
All too often I see buyers delay their home purchase hoping the housing market will slow down.
There’s no reason to wait when home values continue to go up and interest rates are predicted to rise.
I submit offers for my buyers every day. Many of them get accepted, because my clients are prepared and ready to go when the right property becomes available.
Here are 4 steps to follow if you want to buy a house in this hot sellers’ market.
Step 1: Check Your Financial Resources
Your financial situation and income will determine how much you can spend on your home purchase.
- How much cash do you have (or can you get from family) to buy the house outright, for a down payment, or to cover a low appraisal?
- How much can you pay per month if you need financing? A simple mortgage calculator will help you estimate your monthly payment.
- What’s your credit score? Free tools like Credit Karma can answer this question online.
- If you need a mortgage to buy collect your bank statements, tax returns, and pay stubs to get pre-approved. Call or text me for a list of lenders!
Step 2: Describe Your Dream Home
Once you know what you can afford, you need to specify exactly what type of house you want to buy.
Write down your Needs (the items that are non-negotiable) and your Wants (nice to have). Use this worksheet as a memory jogger and to write things down.
Important questions include …
What type of home are you looking for?
- New or existing
- Two story, split level, or ranch
What’s the best location?
- School district
- Commute to work
- Suburban, urban, or rural
Which size are you looking for?
- Bedrooms, bathrooms, sqft
- Garage, outbuildings
- Lot size and yard
Step 3: Watch for New Listings Continuously
I will set up a home search on the MLS, so you get notified whenever a home that meets your criteria is listed for sale.
Keep searching by yourself and drive through neighborhoods to get a good feel for the areas you really like.
- Send me homes you like – this will help me better understand exactly what you are looking for.
- Register on my website to customize your own searches and easily notify me of homes you like to see.
- Review the New Listings and Coming Soon properties I will send you from the MLS every day.
- Be available to look at new listings immediately, as showing schedules tend to fill up quickly.
Step 4: Write a Winning Offer
Now that you are prepared you can write a complete offer quickly.
Here’s what’s important:
- Be ready to submit an offer immediately when you see a house you like. There won’t be time to sleep on it.
- I will recommend the terms of a winning offer. Ultimately, the choice is always yours!
Work Only with a Trusted, Experienced Agent
If you want to win in this market you have to work with the best agent.
Hiring the “friend of a friend” who is selling real estate as a hobby only will lead to disappointment, wasted time, and frustration.
I have great relationships with many of the top listing agents. That’s due to my reputation for submitting quality offers with complete documentation to support my client’s case.
Listing agents know that my buyers will close the transaction. This is critical to get your contract accepted over competing offers.
With my guidance you can successfully buy a wonderful home, even in today’s sellers’ market.
Call or Text me (614) 975-9650 and let me help you submit a winning offer!