Home buyers definitely want to get most out of their deal. But what happens if you decide to buy a home in a seller’s market. Each time you try to buy a home, it’s either already under contract or you lost in the bidding.
Based on the National Association of Realtors statistics, the average price of homes increases about 5% each year. There are several ways you can still get a great deal in a seller’s market. You can either trust your real estate agent or make sure you’re always on the lookout for the next great deal.
Here Are Tips From Other Home Buyers Who Got a Great Deal
Cash is King. If you’re up to buying a new home in a seller’s market prepare some cash. Dana admits she bought her very first home with cash. She says it’s the best deal she got so far. However, you also have to remember to keep your options open and stick with your budget.
However, if paying in cash is not an option, try getting a loan approved by legitimate lenders. Sure you may not have the cash, but having an approved loan puts you in a better position as well.
A Sense of Urgency. At this point in time, being aggressive and having a sense of urgency matters most. Do not set aside viewing a home and wait until the weekend. Who knows, that house you’ve been dreaming of may be sold by then.
It is important to practice a sense of urgency, go ahead and view the seller’s home at once and make a good offer while you’re at it. Your offer will have a higher chance of being accepted against those who came unprepared. It might even surprise you how sellers can be unprepared as well.
Trust your Real Estate Agent. As mentioned earlier, it is important to put your trust in your real estate agent. This way, you unload your anxiety and reduce your stress level. This method really helped Mira acquire her dream home, in a less stressful manner. Find an agent whom you can trust, is wise enough to make intelligent negotiations and knows his way around the market.
Think of it this way, your real estate agent acts as your tour guide, advising you and telling where to go, what to do and when to do it. However, you should do your own research as well.
Buying a home in a seller’s market is no easy task, but we can make it easier for you. Call our trusted Real Estate Agent today!
Full Potential Real Estate, LLC
Myrtle Beach, SC 29577