Home Buyers Prepare To Compete

A sure sign that the real estate market is picking back up is the return of multiple offers being made on the same property. I'm beginning so see more home buyers lose out on their dream home because they are now competing with other offers.

The inventory of homes for sale has dropped not just in our area, but across the country. This creates more competition among home buyers. At times, putting an offer in at asking price or even above asking price doesn't guarantee a buyer's offer will be accepted.

If you want to ensure your strength as a home buyer, there are a few things you can do to give yourself an edge.

• Get pre-approved: A loan pre-approval is based on your credit, income, and assets. There's a difference between this and being pre-qualified which is just an estimate of how much you may be able to borrow. 
• Mind your contingencies: Just because you offer the highest price doesn't mean you're making the best offer. Buyers who put in too many contingencies such as extending time constraints or adding different inspections with their offer may lose out.
• Find an experienced REALTOR®: And here I am! You want someone working for you who knows how to handle multiple-offer situations. I can advise you on how much to offer and help determine a fair price for your dream home.

If you're ready to find that perfect home or put your home on the market, just give me a call.

Kristy O'Connor

Weichert, Realtors - Media
606 E. Baltimore Pike, Media, PA 19063
c: 267.243.6434 | KristyLOConnor@gmail.com