Buying in a seller’s market

Royal Lepage—Joel Dinelle
Buying in a seller’s market

Having a full-time experienced real estate agent by your side is a game-changer. They have the inside track to new listings, can quickly schedule showings, and, most importantly, help you develop a strong buying strategy and draw up a winning offer. Their expertise and negotiation skills will give you the edge in this challenging environment. So, choose a Realtor who’s well-versed in the local market and understands your unique needs.

Having your financing in order is crucial. Time is of the essence!  Before you begin your home search, get a pre-approval with your local mortgage expert. You will have a better understanding of your budget but also it shows sellers that you’re a serious and qualified buyer. So, when you find that dream home, you can make a strong and confident offer, positioning yourself as a front-runner. If you don’t have a preferred lender in mind, your Realtor will have some suggestions for you based on your particular needs.

In a strong seller’s market, like we’ve been experiencing, it’s not uncommon for listings to receive multiple offers. When multiple offers come into play, having room to negotiate gives you a powerful advantage. By not stretching your budget to the limit, you can be more flexible and strategic in your negotiations. This means you can make a solid offer without feeling the pinch and have more wiggle room to sweeten the deal if needed.

Timing is important, but that doesn’t mean you should rush into a decision. While you need to be ready to act swiftly when the right opportunity arises, it’s important to take the time to perform due diligence. Conduct thorough inspections, review property disclosures, and don’t hesitate to ask questions. It’s crucial to balance urgency with a careful evaluation of the home’s condition and value.

Navigating any market can be frustrating at times, especially in a seller’s market, but it’s adventageous to stay positive and persistent. Be prepared for potential disappointments and multiple offers that may not go your way.

Remember, the right home is out there for you, and with perseverance, you’ll find it. Trust your instincts, lean on your Realtor for guidance, and remain open to all possibilities. Happy House hunting!

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