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March Madness: How to Buy During the Busiest Time of the Year

Posted by Carrington Real Estate Services on March 16, 2017 at 9:20 AM

The spring selling season is one of the best times of the year to buy or sell a home, but many buyers fail to realize just how much competition there will be when the home of their dreams hits the open market. What they don’t realize is that there are so many real estate sales this time of year because there are so many buyers who are coming into the market to purchase a home right now.

In order to increase your chances of having the best offer when you stumble across the home of your dreams this spring, you should be working right now to make sure that you are able to present the best possible offer to the sellers. In order to help you do just that, we have pulled together six of the best tips for buyers during the busiest time of the year for real estate.

march-madness-real-estate.jpgKnow What You Want

The first step in making sure that you land that dream home is to know exactly what it is going to look like before you find it. Take some time to discuss different hypothetical options with your family from time to time so that you will have a clear vision to guide your home searching during the busy spring selling season.

Get Pre-Approved

Once you have a clear understanding of exactly what you are looking for in a home, the next step is to show the seller that you are a serious buyer, and the best way to do that is to get pre-approved for a loan by your local mortgage company. This is typically a pretty simple process, but it will add an increased level of credibility to any offer you make.

Focus on Value, Not Asking Price

Speaking of making an offer, it is important to remember that the number you choose for your offer should be based on the amount you actually feel the home is worth, not the amount the seller is asking.

In some cases, you will find that a seller is asking way too much for a property and a much lower offer is actually appropriate. In other cases, a seller might be pricing their home low intentionally to sell it fast, which could lead to a bidding war where an above listing price offer is necessary.

Don’t Hesitate

With so many competing buyers looking at properties this time of year, it is critically important that you are able to pull the trigger and put in your offer the minute you find the house you are looking for. This is where knowing what you are looking for and already having a pre-approval ready to go can be a tremendous help.

Get Creative With Your Offer

No matter what you plan to offer with respect to the asking price, you can always sweeten the deal for the seller by opening up your offer to creative tweaks. This could be something as simple as offering to close quickly or waiving certain inspections. Have your Realtor speak to the listing agent to get a feel for what the sellers are looking for and see if you can accommodate them with your offer.

Hire a Local Expert

Just about every aspect of looking for a home, making an offer, and getting to the closing table is going to be made easier if you have an experienced agent in your corner. Not only should you look for a great real estate agent to represent you as a buyer, you should also make sure that the agent you hire has plenty of experience working in the exact neighborhoods you are considering. This will provide you with a wealth of knowledge that you can call on throughout the entire buying process.

With all of the fresh listings hitting the market during the busy spring selling season, it is definitely one of the best time of the year for buying a home. However, there are going to be lots of other buyers who are thinking the same thing in just about every market. Make sure that you put these six tips to work for you so that your offer will be the most appealing one when you find the house of your dreams.

Topics: Buyer Resources


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