5 Tips for Buying in a Seller's Market

If you’re looking to buy a home in this current seller’s market, check out these 5 tips that could help you in your home buying process.

Tip #1: Get started as soon as possible. Do your research and narrow down the areas and neighborhoods where you would love to live. Consistently check the listings in that area. Once a property has hit the market in your desired area, you’ll know as soon as possible. Working with a Real Estate Agent can help with this process, since Real Estate Agents see listings as soon as they go live, they will be your eyes and ears of what’s coming on the market.

Tip #2: Make sure you have your preapproval from your mortgage lender. You will also want to have your proof of funds ready. Having your preapproval and proof of funds could help move the buying process along a bit faster especially when buying in a seller’s market. If you don’t have these items ready it can be time consuming and delay the home buying process.

Tip #3: Keep your offer simple. Offers typically come with contingencies during the home buying process, a few common contingences: home inspection, financing, and home sale. By reducing the amount of contingencies, this could make your offer more appealing to the seller. When and if you reduce the contingencies make sure to keep it at your comfort level.

Tip #4: Strong sales price. A seller’s market is very competitive. In a seller’s market, a buyer should come in with a strong sales price. Your price is competing against multiple different buyers. The stronger the sales price, the better the odds are for the seller to go with your price.

Tip #5: Write a letter. An amazing way to get your offer to stand out from the rest! A simple letter telling the seller what you love about their home or how you can already picture your family sitting around the dinner table making memories, can really show the seller how much this home already means to you. This letter doesn’t have to be long at all, something short and sweet works just as well too.

If you’re ready to start your home buying process in this seller’s market, give our team a call. The Ashley Brosnahan Team looks forward to working with you!