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Tips on Buying
Increase your chances of getting your dream house instead of losing it to another buyer, with these easy steps.
- Get prequalified for a mortgage. You’ll be able to make a firm commitment to buy and make your offer more desirable to the seller.
- Stay in close touch with your Realtor to find out first about new listings that come on the market. And be ready to go see a house as soon as it goes on the market. (Sign up for our e-letter to get new listings sent to your e-mail as soon as they are on the market.)
- Scout out new listings yourself. Look at Internet sites, newspaper ads, and drive by the neighborhood frequently. Maybe you’ll see a brand-new “for sale” sign before anyone else. Then contact your Realtor to get in to see the house right away.
- Be ready to make a decision. Spend lots of time in advance deciding what you must have so you won’t be unsure when you have the chance to make an offer.
- Bid competitively. You may not want to start out offering the absolute highest price you can afford, but don’t try to go too low to get a deal. In a tight market, you’ll lose out.
- Keep contingencies to a minimum. Restrictions such as needing to sell your home before you move or wanting to delay the closing until a certain date can make your offer unappealing. In a tight market, you’ll probably be able to sell your house rapidly. Or talk to your lender about getting a bridge loan to cover both mortgages for a short period.
- Don’t get caught in a buying frenzy. Just because there’s competition doesn’t mean you should just buy anything. And even though you want to make your offer attractive, don’t neglect inspections that help ensure that your house is sound.
Have more questions about the home buying process? Click here to contact a Liz Maule Realty Realtor or click here to return to the previous page.
Reprinted from REALTORÒ Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORSÒ. Copyright 2005. All rights reserved. Amendments and additional information provided by Liz Maule.
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