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 real estate sales associate 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.
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.
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.