SUCCEEDING AS A BUYER IN A SELLER’S MARKET

by | Jun 3, 2020

For years now our market dynamic has been moving towards lower inventory levels of available housing.  Coupled with strong demand and low interest rates, this has created a strong sellers market. Many home-buyers have become frustrated as homes they are interested in hit the market and within days have multiple offers!  In this month’s blog post, we want to help buyers know what they can do to succeed in a competitive sellers market.

  • Pre-qualify first.  When the perfect house hits the market, you don’t want to be scrambling to get your financing in order! Get pre-qualified with a local lender before you begin your search!
  • Know what’s non-negotiable.  There are many variables when looking at a home. Knowing your true non-negotiables in advance can help you make a good decision quickly.
  • Understand escalation clauses.  The escalation clause can be a powerful tool in multiple offer situations. They prevent buyers from overpaying while giving the buyer the best chance to win in a competitive multiple offer situation. Ask us for more details!
  • Choose speed over emotion.  In today’s market, buyers must sometimes make a relatively quick decision regarding purchasing a home. Learn to check your emotion at the door and evaluate the home based on your important needs and desires in a home.  A fast decision can still be a good one!

At Pinnacle Real Estate, we love working with home buyers!  Give us a call for a free consultation on how we can help you find a great home you will love for years to come in today’s challenging market!