LOVELAND – Homes are selling more quickly these days, which means buyers have less time to think about whether to submit an offer. If you take too long to decide, competing buyers are likely to swoop in before you are able to act. This is especially true during the hot Spring and Summer markets. If you’re planning to buy a home, there are several ways to position yourself to make quick home buying decisions.
Obtain a pre-approval
You can’t really submit an offer if you don’t have a pre-approval. Sellers will rarely consider an offer without one. Pre-approvals also give you a better sense of what you can afford. So, for all of these reasons, be sure to obtain a mortgage pre-approval before you start visiting homes for sale. Know exactly what you are able and willing to pay for a home.
Find tune your requirements
Every homebuyer grapples with a long list of wants versus needs. Understanding what you truly need in your new home (versus what’s optional and “nice to have”) is important. This can help you quickly determine whether a property is a good fit.
Get on the same page
It’s common for couples to disagree on home criteria. Whether it’s the price range, location, style or features of a home, it can be difficult to find common ground. Working out some of these disagreements ahead of time will reduce the amount of time needed to make a decision on a specific property. So, sit down and have honest conversations with one another and come to an understanding of what each person is willing to compromise on.
Understand the market
Making an offer involves understanding the market. What is a reasonable offer price? What pricing strategy should you use in multiple-offer situations? What offer terms will be most appealing to sellers. These are things that your agent can help you with. Work with a local and experienced buyer’s agent to ensure that you have the information and guidance that you need to make competitive offers.
Buying a home in this market
The home buying experience has changed quite a bit over the years. Relying on the advice of friends and family can be dangerous if those individuals have not bought or sold recently or if they don’t understand current market conditions. This is where real estate agents come in. Agents work in the market every single day. They understand community differences and the nuances of getting offers accepted. Rely on your agent for professional advice and guidance.