Tips for Buying a Home During a Competitive Real Estate Market
2017 has been another great year for Real Estate in Southern California but it’s also been a very competitive year for buyers.
During a recent conversation with a client, we were asked what a buyer can do to help themselves when buying a home during a competitive Real Estate market and in this post, we’ve broken the answer to this question down into three tips.
Tip #1 – Get Your Finances in Order
One of the top things that every seller looks at when thinking about a buyer’s offer is if their finances are in order.
If your finances can be described as “less than ideal” right now you should take the time to improve them before buying a home by doing things like improving your credit score, lowering your debt-to-income ratio, saving more money for a down payment and getting pre-approved for a mortgage loan.
Tip #2 – Make Sure You Know the True Value of a Home
Another important thing to do during a competitive Real Estate market is to know the true value of a home when writing an offer because, if you write an offer that’s not competitive you run the risk of having your offer rejected and the seller choosing the most competitive offer from another buyer.
Tip #3 – Write A Winning Offer
Last of all, but most important, to give yourself the advantage over buyers during a competitive Real Estate market you should also write a clean offer that has the right terms & conditions, contingency period, and deposit amount.
The goal when writing an offer is to have your offer stand out from other buyers offers and the best way to do this is by writing an offer that will show the seller that you’re serious about buying their home and ready to act now.
To learn more about the things you can do to buy a home during a competitive Real Estate market, or to view homes for sale, contact Fred Sed Realty by calling us at (800) 921-9231 or connect with us online.