Buyers are frustrated. The inventory is low and their ability to buy a home that meets their criteria is limited. This is at least the second year in a row that this situation exists. What is a buyer to do?
Recommendations include the following. Be prepared to buy immediately. Have a prequalification or pre-approval letter that is up to date in your possession. Select a full-time real estate professional with experience who is available to show you homes and guide you through the process.
Be prepared for multiple offers. The longer you wait to see a new listing, the less chance you have to secure it. Other buyers are also searching and are ready to make an offer. Don't low ball the seller. If you have a buyer's agent, review the comps. Is the house priced correctly for condition and location? If so, make a fair, reasonable offer. Now is not the time to test the waters.
Be flexible. The seller may need a few more weeks to close. Consider giving it to them. Let the seller know you are organized, ready to get inspections done in a timely manner and have your earnest money, your down payment in the bank and an attorey on board.
Make sure if you go over asking price, you know the home will appraise. Be sure the taxes are correct and that you have carefully reviewed the Property Condition Statement.
Make sure you are over the jitters and are not comtmeplating buyer remorse. See enough homes to be sure you have made a good, solid decision you are happy with should you come to cotract.
Associate Broke/Accredited Stager
Coldwell Banker Prime Properties