How to Survive in a Seller’s Market

Published on May 19th, 2017

Searching for your dream home in a seller’s market can be tackled easily with the right preparation and advice. It might feel like you are constantly at a standstill during your search, but these tips can help give you the motivation you need to find the perfect home. Check these tips out:

Come Pre-Qualified

Coming to the table fully prepared means getting pre-qualified as soon as possible. A pre-qualification shows sellers you are seriously looking to buy, and you are able to meets the sale’s needs when the time comes. This gives you slightly more control and negotiating power than if you didn’t get pre-qualified.

Be Prepared with the Necessary Paperwork

One way to show sellers you aren’t fooling around is to not only get pre-qualified for a mortgage but to also bring paperwork as proof. You want to show them you mean business and your offer should be taken seriously. Actions speak louder than words!

Be a Little Flexible

In a market where sellers are at an advantage, it is best to be flexible. Don’t place limitations on the kind of home you are looking for because it will only make your search more challenging. Widening your horizon introduces you to homes you may not have considered otherwise.

Be Available to Sellers

There are many people looking for homes at the same time as you, so timing is everything. It is important to remain readily available and open for communication with sellers so you are prepared to make a move. Respond quickly and follow up on requests promptly.

Don’t Play Hard to Get

Now is not the time to play hard to get. In a seller’s market, a buyer is already at a disadvantage. Negotiation tactics may work elsewhere but are not appropriate in this situation. Make your offer, and if there is a counter offer, you can begin negotiating a little from there.

If you are starting your home search, call 1-844-77-vLoan to start the pre-qualification process to give you the edge you need against other home shoppers.

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