Getting the home of your dreams in a seller’s market is possible when you’re strategic about your approach. Here’s the steps you need to take to be a strong contender and purchase a home in this market.
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Get Pre-Approved
The first step in buying a home in any market should be to make sure you are getting pre-approved. Not only does this help you understand how much home you can afford, but it also shows that you are a serious buyer, you have your ducks in a row and your head in the game.
Make a Strong Offer
In a seller’s market, you may find that a home you want has 30 offers on the table within the first few days of being on the market – that means that your offer needs to be a top contender.
Put in your best offer, first! Keep in mind, this isn’t always the highest price offer, either. You can work some special negotiations into your offer that may fit the seller’s needs more than an offer that’s $25k over list price.
Get Creative with Your Offer
Keep in mind that the seller may wish to stay in their home after closing for a couple months while they find a new place to live. That may be something to work into your offer.
Is there a repair that you were going to request get fixed, but could probably waive and have cousin Jimmy fix it up after the fact? Work that into your offer.
Things like these may make your offer stand out above the rest and fit the seller’s needs more than just a standard offer. Confide in your agent to determine what may work the best for the home you’re looking at.
It’s a Networking Game
Make sure you have an agent with strong relationships. If your agent is friendly with agents around town, chances are that the listing agent may lean more towards your offer if they know that your agent is a trusted, reliable source for their sellers.
No agent nor seller wants to deal with accepting an offer, only to have it fall through 1/2 way through escrow and have to start all over again.
We’ve been in the industry over 33 years, have made relationships all over the valley, and are here to help you get your offer accepted, as we have with numerous buyers, especially in this market.
Be QUICK
Homes go FAST in a seller’s market, so you need to be prepared to jump on an opportunity as soon as it hits the market. Contact your agent right away if there’s a home you’re interested in so you can put in your offer sooner rather than later.
Get Started
If you’re looking to buy, we can help you save $$ on your mortgage AND help you get an accepted offer on a home.
Connect with us today at (702) 838-7700 or info@lasvegashomessold.com
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