This year the real estate market has seen a drastic swing into becoming a sellers’ market. This can be tough, especially for people in desperate need of a home. Even for people not looking to profit from real estate, getting into a home can be tough during this type of market.
If you’re in need of a home and are having trouble navigating a sellers’ market, we’ve got you covered. These are the best tips for buyers when the market favors a seller.
Have Paperwork Ready
There is a lot of competition from other buyers when you put an offer in on the house. Make sure your paperwork is ready and you have all the important information filled out. Make sure your preapproval paperwork shows that you can easily afford the house.
In this type of market, you’re going to have to learn to be flexible. Try to be available when sellers ask you to do a walkthrough of the home. They don’t want people in their homes at all hours, and most likely they’re dealing with a lot of showings. Give them some extra time to move if you really want to stand out from the pack.
Make It Your Priority
When the market favors the seller, you’ll have to be proactive in your search for a hunt. You need to treat your hunt for houses like your life depends on it. Look into houses every chance you get and regularly follow up with real estate agents. This shows them that you are serious, and staying on top of things mean you have a head start on other buyers.
Don’t Make Extra Requests
When a seller already has infinite offers on a home, don’t make extra requests. Most likely, they won’t need to satisfy your want for a washer or dryer or upgraded items. There’s a long list of people behind you that will take the property as it is. Markets that favor the buyer are a better time to ask for upgrades and extra benefits when it comes to purchasing a new home.
If you’re looking for a house in our current market, things can get pretty stressful. However, by staying on top of all the listings and following up regularly, your chances of snagging a home will increase substantially. Be patient, and don’t forget to be as flexible as possible!
And, remember The Realty Group Team is always here to help you! Call/text 434-546-3202 to get help with your real estate needs.!