Buyers deserve a plan that provides clarity and confidence. The buyers with whom I have worked are confident they are making the right choice because I have provided them with a roadmap that is tailored to their particular needs.
Positioning buyers to win in multiple-offer scenarios has become increasingly important with the recent shift to a seller’s market. I use a proven strategy that puts buyers in a position to win.
Here are some tips to get you started:
1. Get Your Financing In Place
An important part of the process is discussing your financing options with a mortgage professional. By doing this, you’re not wasting time looking at houses that you cannot afford or not setting your heart on a house that isn’t an option. Make sure you have pre-approval from your bank or mortgage professional before you get too involved in your hunt, as this can save you valuable time when you are ready to make an offer.
2. Take Your Time and Tour
Everybody has a different timeline for their purchase. I have had clients look for many months, and I have had clients purchase the first home they saw. Everyone is different. Often it will depend on what type of market you are buying in (seller’s market vs. buyer’s market), but take your time. Do not rush into a purchase, and do not settle for just any home. This is a big deal, so plan on being patient and making the right decision.
3. Identify Your Needs and Wants
Another important step early in the buying process is establishing your home-buying plan. What home features are “nice to have” and what are “show stoppers”? Identify your needs before spending time looking at houses. Take your time. I would welcome the opportunity to discuss this with you. Ask me for a copy of my “Features and Benefits” document to help you identify your priorities.
4. Record Your Progress
Take good notes and photos because the more you see, the more difficult it becomes to remember the characteristics of each home. Write down what you saw, and what you did or did not like about the homes you toured. These notes can be extremely valuable when trying to assess the value of a home.
5. Do Your Homework
You should not skip out on performing your own due diligence on a property. There is critical information can be ascertained on properties, and the details can define whether or not you are making a good investment. I will recommend that you have a property inspected, and if you are buying a condominium, that you have a condominium document-review condition in your offer. Also, watch or look for be a financing condition to ensure that financing can and will be extended to you. I will recommend other conditions that are important for your protection depending on the scenario of your purchase. You need to do your own due diligence when buying a property, and you should not rely on the due diligence that may be provided to you by the seller. Make sure any fact-finding is done by you.