How do I buy a home in this hot market?
These 3 tips are essential for getting the home you need!
The real estate market is moving quickly these days! Low interest rates and positive economic outlooks make now a great time to buy. Here are 3 ways to have an advantage in this market.
1. Be ready to show your offer is better
If you have a mindset of “I am competing with other buyers,” this will help you as you do everything you can to make your offer look amazing. Realtors like me are trained on how to help you make your offer the most desirable one.
2. Get pre-approval for your loan
Have you ever gone to buy something without first seeing if you have the funds? That’s what it’s like if you plan to use a loan to finance your purchase, but don’t get pre-approval! Lending institutions are happy to help you in this process of checking your creditworthiness and giving you an idea of how much they are willing to lend to you.
3. Put down earnest money as part of your offer
Some people confuse earnest money with down payments. Earnest money is a way to put down money at the time of contract acceptance, to show you are serious about coming through with this purchase. When you enter a contract, using earnest money is a way to make a sort of “pre-payment” on your home purchase, which you would forfeit if you backed out of the contract for certain reasons.
Bonus #4: Have a professional on your side
Buying a home or land is a big deal, and a trained real estate professional can guide you through every step, making sure your best interests are served. Contact me today for more info and to get your process started.