In the market to purchase a home these days? If you have been looking, you probably have gotten a good taste of the stiff competition out there. If you want to find that perfect home, you have to act very fast these days. Houston, Dallas, and Austin recently were ranked near the top of a list of cities where homes are being sold in less than a day. Most other Texas locales also have strong seller’s markets … meaning that good properties go under contract quickly.
The good news: You can take steps to prepare yourself for a successful purchase even when you don’t have weeks, or even days to ponder your decision. We are seeing more and more multiple offers, full price and even over asking price offers in the Dallas area.
Here are three things you can do to give yourself a better chance in buying that perfect home:
Get your financing in order. Preapproval from a lender puts you in a strong position (stronger than prequalification) and gives you confidence that you can afford the price range you’re considering. It also shows the seller you’re a serious buyer.
Determine what you want. The better you define your criteria, the easier the decision-making. Consider the style of house, features, size, neighborhood, and condition. It also helps to know which of those factors are the most important to you.
Make sure you have a Texas REALTOR® on your side. If you browse websites or drive through neighborhoods in search of for sale signs, you may be a step behind buyers who already found out about those properties from their agents. Also, your Texas REALTOR® is a professional who does this all the time. He or she knows exactly what other steps you need to take to succeed in a seller’s market.