The biggest challenge for buyers in a tough market is a shortage of homes for sale. You can increase the odds of finding and buying your dream home in a competitive market by considering the following things:
- Get pre-qualified for a mortgage. Your purchase offer will be much stronger with a mortgage pre-approval.
- Get yourself a good REALTOR®. Select one who will keep you posted on new listings and who will guide you through the negotiating process.
- Determine which contingencies are most important to you and forget about the rest. Offers with lots of contingencies are often rejected, so make your offer as clean as possible.
- Move quickly. When you find the house you want, don’t play games. Start with your best offer and be willing to offer a quick closing date.
Finally, remember that buyers who are flexible during contract negotiations have a definite advantage over those who aren’t willing to budge.