If you are house hunting, you know it can be filled with challenges and obstacles, especially with a growing competitive housing market. Gaining a competitive edge over other buyers is a surefire way to get your dream house and take the upper hand. Below are The Cesi Pagano Team’s suggestions on how to gain the competitive advantage when buying a home.
Find the Right Real Estate Agent for You
Finding the right real estate agent can be tricky. Getting personal recommendations from family or friends is a great place to start. However, don’t neglect a basic internet search. Agent websites, review sites, social media sites, and basic Google searches will provide you with many reviews of the agent in question. Be sure to check out The Cesi Pagano Team’s social media outlets and review sites to look at our outstanding reviews from our satisfied clients:
Find Properties before Everyone Else Does
This comes back to having an excellent real estate agent. Timing is everything in a competitive market. A well connected agent will know about houses before they even hit the market.
Be Well Qualified
You will only be taken seriously if you are a well-qualified buyer. Characteristics of a well-qualified buyer include:
- Gainfully employed
- Good credit score (mid 700s)
- Able to make a substantial down payment (20% or more)
Offer a Short Closing
Making an offer to close in less than 30 days is an aggressive approach. It does however communicate to the seller that you have your financing lined up and ready to go. Be fully prepared if you want to offer a short closing. It will be a lot of work and it will be stressful. There are lots of moving parts to a home purchase, the biggest being the loan process. Keep in mind that your lender may have last minute requests for documentation or might be very busy and get backed up.
Make an All-Cash Offer
If you are fortunate to make an all cash offer, the odds are definitely in your favor. Not having to wait for a loan approval saves a lot of time, and from the seller’s perspective, an all-cash offer is hassle-free.