HOW TO BUY IN A SELLER’S MARKET
With low home inventory and a short summer season, we often find ourselves in a seller’s housing market here in Duluth. This summer is no exception but help you land your dream home, here are 6 tips to be a competitive buyer:
- Have pre-approval letter ready. Seller’s want to work with buyers who have solid financing, get that pre-approval letter ASAP!
- Make a strong offer. In this market there is little to no time to counter, make sure you don’t get passed over for making a low bid.
- Give a deadline. Setting a timeframe for your offer can add a sense of urgency to your interest in the home.
- Increase your Earnest Money. The more money you put down with your offer can show the seller you are serious about purchasing their home.
- Consider waiving contingencies. Contingencies can interfere with closings, if your offer comes with opportunity for the deal to fall through, the seller may choose another offer over yours.
- Submit your offer with a personal letter or video. If you feel a strong connection to the home you are making an offer on, consider submitting a personal message along with your offer. Expressing how much your kids loved the backyard or the perfect way they remodeled the kitchen could just make the difference to a seller that loved the home as much as you will.
The Zenith City Group is here for you if you have any real estate needs or questions! We’d love to hear from you at email@example.com or 218-390-1132.
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