2016 is shaping up to be a big year if you want to sell your home.  Interest rates are still low and there are too few homes for sale. This is causing a feeding frenzy in some markets for  buyers.  Buyers are having a tough time standing out in this seller’s market.  Here are a few tips on finding a home and going under CONTRACT with the home of your choice:

1- Have a pre-qualified letter in hand from your preferred lender if you are getting a mortgage.  A lender can help you determine beforehand how much you’ll want to pay for a home.  Knowing this early helps you eliminate homes that are too expensive or even homes that are in a lower price range.  Be efficient.  Finalize this early!  Search in your sweet spot and no where else.

2-Hire a Realtor® as your buyers agent to assist you in finding these homes the day they come on the market (and sometimes even before they are listed). When she calls you with a possible home, you’ll need to see it soon.  We are seeing homes go under contract within hours of being listed.  You’ll need to make a fast decision if you think you’ve found a home in the right location.  Remember, you’ll ask for a due diligence period.  If something goes wrong, you will have several days to walk away from the contract if for some reason you no longer want the home.  As long as you are in your due diligence period, you will not loose any earnest money you’ve provided.

3- Make it a strong offer.  In a sellers market, submit your highest and best offer up front.

• Earnest Money: If you can offer additional earnest money, do this as well.
• Be flexible.  Ask your agent to find out if the sellers need to close quickly or may need some extra time in the home.  If your moving time frame is flexible, it may just be the reason you end up under contract.
• How strong is your financing contingency?  Cash is king.  If you are paying cash, you’ll most likely move to the front of the line.  Also, loans with a higher percentage of down payment are perceived as solid.  It shows you’ve saved for this purchase.
• Are you asking for any contingencies?  If you must sell your home before closing on your new home, the sellers may accept another offer that does not have this contingency?

There are so many options.  Your agent will walk you through the contract and can present you as a strong buyer.

4- Don’t be discouraged if you do not go under contract.  If you’ve made your strongest offer and it is competitive in the market, another buyer may have looked stronger.  If you are working with an agent that is on top of the market, she will know as soon as homes are listed, she will stay in touch with the agent for the sellers of homes you wanted but did not get, and she will be looking under every rock for your next home.

Finding a home in this market to buy can be stressful.  If you want assistance during this time, let me help!  My goal is to search endlessly for your home.  As a 25 year resident, I know the Atlanta market.  I’m also an Accredited Buyers Specialist aka.. ABR®.  This will be a fun and exciting adventure! I promise!  Call me at 770-330-7477 or email Jill.Rice@me.com