- Don’t rely on the Internet
-While the Internet can be a valuable resource to quickly find available homes, inventory can be limited and you don’t want to waste time behind a computer screen while other potential buyers are out making offers.
-Scouting homes in person also gives you a feel for the property; often times pictures online only portray what the seller wants you to see.
-Use the Internet as a resource to find available homes, but do the majority of your research in person.
- Understand Market Values and Trends
– Research the home price index in your desired area to make sure purchasing a home is a good financial decision.
- Take Advantage of Low Mortgage Rates
– Rates are at an historical low, making monthly payments lower than rent in a lot of areas.
- Assemble Your Team Before You Bid
-You can save a lot of time by lining up a team of experts before you make an offer- Real Estate Agent, Lender, Inspector and Attorney
-This is especially helpful when there are competing offers; saving the seller time is always a good thing
-Many buyers also go the extra mile and get fully approved before submitting their offer
5) Have Additional Incentives in Mind
– Prepare a list of non-negotiables before heading to the table. What concessions are you not willing to forego?
-Be prepared to offer additional funds towards closing if you are dealing with competing offers or find out when the seller wants to close and write it into your contract.