Date Archives: March 11th, 2021

Low inventory can make for fierce competition when buying a home. Here are a few things that you can do to stay ahead of the game and increase your chances of getting your dream home.

1. Get prequalified for a mortgage. You will know exactly what you can afford and be able to make a firm commitment to buy. Having a prequalification can make an offer more desirable to a seller.

2. Stay in close contact with your real estate agent. We will be on the lookout for the newest listings that meet your criteria. One of the benefits of working with New Leaf Team is that you will have 3 agents who know your home search requirements keeping an eye on new listings for you and ready to take you on appointments when a home goes on the market.

3. Scout out new listings yourself. Listings that are For Sale by Owner will not appear in our MLS search, but may be listed online. While we will conduct our own searches both on and off-line for you, you should also keep an eye out for For Sale by Owner or Coming Soon signs in neighborhoods that you like. And don't forget to tell friends and family that you are searching for a home, they may know someone who is thinking of selling your dream home. Send us the information you have and we'll be glad to set up showings.

 4. Be ready to make a decision. Spend plenty of time in advance deciding what you can afford and what you must have in a home so you won't hesitate when you have the chance to make an offer.

5. Bid competitively. Your first inclination may be to start offering something less than the highest price you can afford, but if you go too low in a tight market, you can lose out. We'll work with you to determine a bid that is both competitive and within your budget.

6. Keep contingencies to a minimum. Restrictions such as needing to sell your home before you move can make an offer unappealing. Remember that if the market is tight, you'll probably be able to sell your house quickly as well. Make sure you talk to your agent about what contingencies you may have so we can make a plan for how to address them when making an offer.

7. But don't get caught in a buying frenzy. Just because there is competition for a home doesn't mean that you should buy it. Make sure that the home will fit your needs in size, features, and location. And even though you want to make your offer attractive, don't neglect inspections that help ensure the house is a sound investment.