Lessons in Real Estate: How to Become the Most Attractive Home Buyer

How has the house hunting been going so far? Does someone else keep beating you to a property that you’re interested in? Then you understand how competitive the process can get. What you need to do is separate yourself from other real estate buyers, and on that note, here are three steps to make you more memorable in the eyes of sellers.

Pay in cash

You’ll have a better chance of catching the seller’s eye if you pay in all-cash. If this is not possible, get pre-approved and have the approval documented in pre-approval letter. This tells the seller that you have the full capacity to pay for the house with your finances, and that he will have less of a problem dealing with you. Additionally, express your willingness and ability to put a hefty down payment on the house, somewhere around 35 to 40 percent. With this, the seller will know that you’re serious about buying his property.

Research, plan, and decide aggressively

The U.S. currently experiencing a seller’s market, in which inventory is low and housing prices are high. In such a market, buyers need to stay aggressive with research and planning and be decisive whenever an opportunity to buy presents itself, because you may not have another chance.

Be reasonable

Great buyers are easy, flexible, and responsive to work with, especially during negotiations. Don’t ever give the seller a hard time. He may be facing many offers, so you’ll only diminishing your chances of being chosen if you’re hard to deal with. If you can confirm multiple offers, be prepared to compete and have a good counteroffer.

It pays to work with a real estate agent when you’re house hunting. Although you may have to pay more upfront, the speed at which your agent can find you the right house—and the significant savings he can fetch you in the process—can make the investment more than worthwhile.

Sources:

How to be the Most Attractive Homebuyer, foxbusiness.com

How to Be the Most Attractive Home Buyer in a Seller’s Market, consumerreports.org

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