Raleigh Area Real Estate Buyers

Tips on Buying in a Tight Market

Increase your chances of getting your dream house instead of losing it to another buyer with these easy steps:

1. Get pre-qualified for a mortgage. You'll be able to make a firm commitment to buy and make your offer more desirable to the seller.

2. Scout out new listings yourself. Look at Internet sites, newspaper ads, and drive by the neighborhood frequently. Maybe you'll see a brand-new "for sale" sign before anyone else.

3. Be ready to make a decision. Spend lots of time in advance deciding what you must have so you won't be unsure when you have the chance to make an offer.

4. Bid competitively. You may not want to start out offering the absolute highest price you can afford, but don't try to go too low to get a deal. In a tight market, you'll lose out.

5. Keep contingencies to a minimum. Being obligated to sell your home before you move or wanting to delay the closing until a certain date can make your offer unappealing. In a tight market, you'll probably be able to sell your house rapidly. Talk to your lender about getting a bridge loan to cover both mortgages for a short period.

6. Don't get caught in a buying frenzy. Just because there's competition doesn't mean you should just buy anything. Even though you want to make your offer attractive, don't neglect inspections that help ensure that your house is sound.