How can you compete as a buyer in a hot market?
First, have your financing in place and be ready to make a move. Oftentimes, buyers look for houses without having their financing in order, then once they have to compete in a multiple-offer situation, they’re scrambling to get their documents in order. That’s not the way to win the home you want.
Second, make your offer strong (with the guidance of a professional). Have as few contingencies as possible and make your offer at or over asking price. If possible, add an escalation clause.
Third, and most importantly, hire a proactive real estate professional. I can’t tell you how many times I’ve gotten an offer on one of my listings from an agent I’ve never spoken to, and I only know they saw the house because they sent a showing request. It’s very important that your agent is proactive in their communication with sellers’ agents. A seller’s agent will be more comfortable recommending your offer if your agent communicates properly and instills confidence.
If you have questions about this or any real estate topic or you’re ready to start your home buying journey, call or email me. I’d love to help you.