5 Tips for Buyers in a Highly Competitive Market

By: Philip Hollett

5 Tips for Buyers in a Highly Competitive Market

Tags: Philip Hollett, Realtor, TIPS FOR BUYING A HOME, process for BUYING a home, home BUYING tips

Depending on where you’re looking, you may be shopping for a home or property in an area where the market is highly competitive, which is just about everywhere now! The good news is, there is plenty you can do to increase your chances of getting the home you love – and can afford.

  1. Know exactly what you want. Get crystal clear on the type of home you’re looking for, including size, location, old, new, #bedrooms, garage, parking, etc. This will help narrow your focus on listings that are a good fit.
  1. Get your financing pre-approved. In a competitive market, getting your financing pre-approved will give you an advantage at offer time. So don’t leave this to the last minute, do this now.
  1. Be prepared to act fast. When the market is busy, good listings don’t last long. You don’t want to miss out! When you see a listing you like, review everything available online first, then schedule a viewing right away if you feel it could be the one.
  1. Know your “no-regrets” price. Great homes in a seller’s market will often get multiple offers and sell over asking price. Ask yourself this – what is the highest amount you are willing to pay for this property with no regrets? Losing out on a home for an amount you would have been comfortable with is disappointing. Be sure to run any numbers by your bank / lender / mortgage broker.
  1. Consider writing a letter or doing a video telling the sellers how much you love their house. Homeowners are emotionally attached to their homes. They take great pride in every room, every upgrade and feature and want their home to go to someone who will love it just as much as they do.

For more information or to book your complimentary consult, contact me today. Or click here to see my availability so we can avoid the back and forth of finding a time to chat! 

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