How to Win in a Seller’s Market

win in a seller's market

Getting your real estate offer accepted

We’re seeing more and more multiple offer situations on the West Bank, and a growing number of disappointed buyers when their offers are not accepted (or even countered).

So how do you win in a seller’s market?

Make your best offer first

We know, it’s tempting to want to play the back and forth bidding game in your efforts to get the best possible price. But if the house is priced well to begin with, you may be competing with other buyers who aren’t playing the same game. Talk to your agent about comparable sales in the neighborhood and make a strong offer from the beginning.

Have your financing lined up

If you aren’t pre-approved for a mortgage before you begin your home search, you aren’t prepared to buy. You’ll be beat out every time by another buyer who has taken the time to get their financial house in order and can prove they are qualified to purchase.

Be flexible on terms that are important to the seller

Do they need to stay in the house until the end of the school year? Or perhaps there is an above ground pool that you don’t want, but they don’t want to deal with removing. Some sellers are willing to be more flexible on price if you can be flexible on closing dates and things you want done to the property prior to closing.

You snooze, you lose

Don’t wait when you find the house you love, whether it’s the first or the 100th home you’ve seen. If it checks off all of your wants and needs boxes, write the offer before someone else does.

Learn from your past experience

If you’ve made multiple offers that have been rejected in the past, learn from those mistakes. Are you asking for too much? Bidding way too low? Consult with your agent about what the stumbling blocks have been in your prior offers and adjust accordingly.

 

Need a guide to buying your next home? Contact us today at 504-327-5303 and we’ll be happy to share how we help our clients succeed.

 

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