4 Things you need to do to survive a seller's market.
Currently in the Maryland-Virginia-DC area, we have some markets where buyers are having a hard time finding properties to buy. 2017 has more buyers looking for homes and sometimes few houses coming on the market. This has meant a great seller's market for some areas. So if you are a buyer in some of these areas, here are 4 things you will need to do;
1. Have your financing in order; this means when you see a home, you can write an offer right there and not have to talk to the lender.
2. Know what you want and where you want it; once a home comes on the market, you have little time to make a decision. If you have identified your needs, then go through your list to check if the home meets your most important needs. This can help you quickly make a decision.
3.Think of things to give up if that helps you get the home; you will likely be competing with other buyers who are willing to give up something but make sure your realtor explains the consequences of your actions.
4. This is not the time to try a low ball offer; remember the seller knows the home is overpriced but they also know you have a limited choice.