Finding Homes for Sale amid Today’s Competitive Real Estate Market

Buying a home used to be a long process where buyers and sellers haggled over details for weeks at a time. In today's real-estate world, homes for sale might be on and off the market in a matter of days. As a savvy homebuyer, you want to be ready to pounce when that desired property goes up for sale.

 With the help of an exclusive buyer's agent, here are a few helpful tips to secure that property. 

Bidding Discussions

You may want to offer the lowest price possible on a home, but a competitive market makes that strategy a difficult one. In a seller's market, you'll need to put forth your best offer. To further secure a deal with the seller, you may want to suggest unique bidding details. Offer to buy the hot tub located in the yard. Most sellers don't want the hassle of moving a hot tub, so this suggestion might give you an advantage over the other bids.

Locking in a Mortgage Rate

Because selling a house is often faster than the local banking procedures, head to your lender before placing any bids. You want to have a pre-approved loan to show any sellers that you're serious about buying the property. In fact, liquid assets are another great way of displaying your bidding power.

Cash will always win out over a loan, and that fact might make a seller choose you over another bidder. Funding a loan might fall through if the seller picks the wrong buyer.

Ideally, your exclusive buyer's agent should be on the lookout for the best properties once you hire them on. Keep your cellphone handy because the agent might call you with a hot deal that won't last another 24 hours. When you prioritize the home-buying process, you'll be able to lock in that perfect property in no time.

Sources:

Buyers Guide: How to Beat the Competition in a Hot Housing Market, time.com

5 Ways to Beat Other Buyers in a Competitive Market, quickenloans.com