So many homebuyers and not enough available homes for sale… the low supply and high demand is driving prices up and driving buyers crazy. Here are our tips for you buyers out there looking for a home in today’s tight market.
Do your research first
Do your research online: what neighborhoods, what style, what price? Unfortunately for buyers right now, there’s not a lot of time to shop around and look at 20+ houses to see which is the one for you. They’ll most likely be sold to someone who knows what they want right now.
Finances: Come prepared
It’s go-time. Have your preapproval in place to add weight to your offer to purchase. If you don’t, some other buyer will.
Know your must-haves
In a market where homes are selling quickly and multiple offers are submitted, you will need to make a quick decision. Since buying a home is a huge purchase, you still need to act wisely while acting quickly. Make sure the home has all of your “MUST-HAVES”. If you feel strongly you must have 1.5 baths and a 2 car garage think twice before jumping on a home that does not. You may deeply regret compromising your must-haves.
Use a buyer’s agent
Contact a First Weber agent if we can help you with buyer agency in Wisconsin. You can be represented by a professional negotiating on your behalf as a buyer agent, but only after signing a buyer agency agreement. A buyer’s agent could be a huge help to you when you are buying a home in a tight market.
Make your best offer first
You may only get one chance at getting your offer accepted. Make your best offer. In some ultra-competitive markets, even an over asking offer price may not be accepted. Time to move on to the next house… remember even in bidding wars, keep an eye on your must-haves.
Can you offer a quick closing? A large downpayment? Maybe waive some contingencies? Can you offer a delayed closing so the seller has time to find a new place? Any number of these may make your offer more attractive to the seller.
First Weber sells real estate throughout WisconsinMetro Milwaukee and Southeastern WI, South Central Wisconsin, Southwest Wisconsin, Western Wisconsin, Central Wisconsin, Northeast Wisconsin and Wisconsin’s great Northwoods. You can start searching for Wisconsin real estate and Wisconsin real estate agents at firstweber.com
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