Search area listings
Babbie Carll Realty, LLC

russ and willie

Buyers' Resources - Homebuying Basics

 

Tips on Buying in a Tight Market


7 Reasons to Own Your Own Home  |  10 Steps to Prepare for Homeownership 5 Common First-Time Homebuyer Mistakes  |  10 Tips for First-Time Homebuyers 10 Things to Take the Trauma Out of Homebuying  |  Tips on Buying in a Tight Market

Increase your chances of getting your dream house instead of losing it to another buyer, with these easy steps.

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. 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.

  6. 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.

  7. 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.




7 Reasons to Own Your Own Home  |  10 Steps to Prepare for Homeownership 5 Common First-Time Homebuyer Mistakes  |  10 Tips for First-Time Homebuyers 10 Things to Take the Trauma Out of Homebuying  |  Tips on Buying in a Tight Market
Content from REALTOR® Magazine Online with permission of the
NATIONAL ASSOCIATION OF REALTORS® Copyright 2005.
All rights reserved. www.REALTOR.org/realtormag
   
 
Home | Search Area Listings | Meet Our Brokers | Sign Our Guestbook | Visit Our Communities
Read Our Fan Letters | SW Colorado Maps | View Our Gallery | Sellers' Resources | Buyers' Resources
Contact Us

Agent Web Mail Access Site Updated: Mon May 21 2007