Here are my tips to help buyers win in this competitive market.
As inventory is so low right now, multiple-offer situations are rampant in our market. How in the world can buyers compete in this crazy seller’s market? If you as a buyer are up against 20 other offers on a home, you’ll probably have to go far above asking price in order to get it, not to mention including the best possible terms. And this situation is only getting worse for buyers. Today I’ll discuss some strategies that you can use to gain a competitive edge in this hot market.
Feel free to follow along in the video above or else use the timestamps below to navigate the video at your leisure:
1:08 — Buyers are offering 10% to 15% over asking price
1:49 — A real example of how far buyers are willing to go
3:11 — Tip No. 1: Don’t wait for a collapse or price adjustment
4:04 — Tip No. 2: Alter your search
6:02 — Tip No. 3: Alter your financing
7:00 — Wrapping up our discussion
The long and short of today’s message is that buyers in our market need to be ready for a fight. If you have any further questions about buying a home in today’s market, don’t hesitate to reach out to us. We’d love to help you find success.