It’s no secret that the housing market in Moore County is booming. It’s a competitive market and a good one to be in if you’re a seller, but if you’re a buyer it can create challenges. More people are finding themselves in bidding wars or having houses enter contract before they even get to see them.
So how exactly do you stand a chance as a buyer in this market? Here are a few ways:
Make sure that you have the right real estate agent.
In this market, you need a real estate agent who is responsive to both you and the other agent. Before you choose an agent (or a team), look for positive online reviews (especially ones that address response time) and meet with them to figure out how they prioritize their clients. You need an agent who can quickly write up a contract and expertly negotiate if necessary.
Know what you’re looking for.
If you know what you’re looking for when you start your search, you’ll be able to quickly identify the home you want to make an offer on. There isn’t a lot of time for buyers to wait, so knowing what your home “must haves” are and exactly how much you’re willing to offer will ensure that you can walk through a home and write an offer on it the same day.
Come prepared with a pre-approval letter.
Having a pre-approval letter shows that you’re a serious buyer and that you know that you can actually afford the home. Meet with a lender before you start your search so that you can find out exactly how much you can afford to spend, and so that you won’t waste your time, your agent’s time, or the seller’s time putting in an offer on a home that isn’t realistic for you.
In a multiple offer situation, offers with contingencies are often moved to the bottom of the pile. Do what you can to get rid of them or if you do have them, and if you can’t do anything about them, then make sure your offer is competitive in other ways.
This is no longer a market where you can try to low-ball sellers. Make a serious and competitive offer on a home if you’re interested in it because you might only get one chance.
If you’re interested in buying a home in Moore County, you should do everything you can to be the best buyer possible.
If you don’t have a real estate agent, but are looking to buy, let a member of The Home Team NC know. We’d love to work with you to help you find your dream home.