With so
many buyers looking for homes to purchase and so few houses for sale, there’s a
disconnect between supply and demand. This imbalance pushes home prices up
while driving bidding wars and multiple-offer scenarios. This might be
ideal for sellers, but it’s an unwelcome experience for buyers. If you’re
braving the buy, check out these 3 free ways to win a bidding war.
Work With an Expert
Working
with a team of trusted real estate professionals that are primed to communicate
clearly with the seller’s agent will make the home buying process easier for
everyone. And who doesn’t love easy! When selecting your team, working with
established real estate professionals can make all the difference in getting
your offer accepted.
Get Pre-Approved for a Mortgage
As you can
probably imagine, the moment when more buyers enter the market than sellers,
finding a home becomes challenging at best. One way to show you’re serious
about buying a home is to work with a lender to get pre-approved for a
mortgage before starting your search. With a pre-approval letter, sellers will
see you can actually close on the deal, boosting your offer to the top of the
pile.
Establish a Personal Connection with the Seller
Creating a
personal connection with the seller can go a long way. It might sound like
advice from a time long-past, but even spending a few minutes getting to know
the seller can give you the advantage you need. When a seller feels comfortable
with you, they’re more likely to offer vital information, like why they’re
selling and what they’re looking for in an offer. If you’re a super smooth
talker, they might even give you what their highest price is.
What You Need to Know
If this is the year you’re ready to buy, contact a local real estate professional to get the process started so you can make sure your offer is a strong one when the competition heats up.