6 Strategies to Help Buyers Move Fast in this Market

By
Real Estate Agent with Solutions Real Estate CA DRE #01490977
https://activerain.com/droplet/5489

6 Buyers Strategies for Moving Fast in the Housing Market

 

Can you move fast?In today’s housing market buyers need to move fast.

 

Sometimes buyers realize this, sometimes they don’t. But I had a buyer the other day comment, once she started looking at homes in her price range, that “I guess we need to move fast” since homes she liked in her price range were gone in a day.

 

It can be especially hard as a first time buyer to realize market demands are such that in order to get the home you want means moving forward quickly. Being fully prepared to make such a huge purchase, and then being decisive, can be a challenge. But for those who want to buy in a competitive market, it’s pretty much essential.

 

Here are 6 strategies to get you there fast.

 

financingGET PRE-APPROVED WITH A REPUTABLE LENDER

Yes, we Realtors harp on this constantly. There’s a reason for that. Sellers and their agents want to know you are financially in a position to purchase a home and there is a strong likelihood of you closing.

 

You need to prove that with a full, written and current pre-approval that will convince a seller you are golden (credit, assets, income, etc.). Your lender should be readily available to make any changes in the pre-approval letter, depending on your offer, and perhaps also to take a call from the listing agent to ask a few questions, or even contact the L.A. once your offer has been submitted to emphasize how qualified you are.

 

Sorry, but an online lender is not going to impress most sellers or their agents.

 

Knowing exactly what you can afford to buy, based on your loan qualifications but also your personal budget, will make you more confident, enabling you move ahead quickly as needed.

 

Learning about the housing marketKNOW AS MUCH ABOUT THE MARKET AS YOU CAN

You need to quickly get educated about the local market conditions. Some of that comes about through research and looking at listing activity, but your Realtor (who hopefully knows the market thoroughly) can and should help you understand what’s taking place in the local market and what this means for making a competitive offer. For example are most properties getting multiple offers and selling for over asking price? Lack of understanding leads to hesitancy to act quickly.

 

ASSUME OTHER WILL BE INTERESTED

Making assumptions in real estate is generally not smart. It’s better to ask questions and to verify than just assume. But in the case of competition, I feel pretty comfortable telling buyers to always assume there will be competition and act accordingly. That means making a strong offer and without delay.

 

KNOW WHAT YOU WANT

You really should have a good idea of what you want, but more importantly what you need. And that means realizing there are trade-offs and you simply will not get everything you would like. If you are still waffling about those amenities you would like to have, or are unclear about where you really want to be, you are not going to be able to move quickly. Or if you do make a decision it will be the wrong one. It’s a waste of time and energy, and emotionally draining.

 

Buyer HandbookUNDERSTAND THE OFFER PAPERWORK AND THE PURCHASE PROCESS

Don’t wait until you have to make an offer to see a copy of the standard offer paperwork and discuss with your Realtor.

 

If you aren’t provided one, ask for it! Understanding the important decisions you have to make (offer price, closing date), the contingencies to include (inspection, appraisal, loan, HOA), and competitive terms and conditions up front will save you time, and you won’t have to angst over it when it’s time for writing that offer

 

You also want to discuss the purchase process with your Realtor before making an offer so you know what to expect. Confusion around what to expect, or what happens first, then second, etc., will lead to uncertainty, which will not allow you to move quickly when you need to.

 

HAVE A MINDSET OF DECISIVENESS

In order to move fast you will have to be prepared to decide quickly, not think about it for a day or two. It’s not easy to do, especially with a big purchase like a home. And perhaps you are just a bit more cautious in your decision making…and that’s fine. The important issue is that if you are ready (you are qualified, you know what you want, you like what you found, and there is competition), be prepared to make a decision to move forward fast.

 

It’s perfectly fine if moving quickly is, well, just too fast for you right now. You certainly don’t want to make a hasty decision. But you must realize there are possible consequences of delaying a decision on a home you really like, want, and can afford. You may have to step outside your comfort zone.

 

Understanding the market, doing your homework, being prepared, and working with a good Realtor will put you in the best position to react quickly when the right house comes along. Then it’s up to you!

close

Re-Blogged 3 times:

Re-Blogged By Re-Blogged At
  1. Cristina Salcedo 04/23/2017 04:35 PM
  2. Gabe Sanders 04/28/2017 11:50 PM
  3. Roy Kelley 06/05/2017 01:00 AM
Topic:
Home Buying
Location:
California San Diego County Carlsbad
Groups:
Certified Residential Specialists
SAN DIEGO Real Estate Agents & Loan Officers
Buyer Information - What Buyers Need to Know in Today's Market
Advice for Buyers
HyperLocal Neighborhood and Community Posts
Tags:
how to buy a house
how to buy a home
homebuying tips
buyer tips and advice
jeff dowler crs

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Rainmaker
1,652,578
Lottie Kendall
Compass - San Francisco, CA
Serving San Francisco and the Silicon Valley

Great advice for buyers, Jeff. I am especially happy to see you used "reputable lender" in your first strategy point. On-line, out of area lenders too often don't understand our fast-paced market, and are a big unknown to listing agents.

Apr 21, 2017 08:02 AM #1
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Thanks,  Lottie Kendall  I think it's critically important, but some buyers love the idea of an Internet lender.

When sellers have decision to make about offers the lender and financing is a critical factor to consider.

Have a great weekend!

Jeff

Apr 21, 2017 08:08 AM #2
Rainmaker
1,323,550
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

I tell my buyers...know how much you are willing to pay. We can negotiate...but do not play games...someone else may want the home as much as you do!

Apr 21, 2017 10:23 AM #3
Rainmaker
2,780,863
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Jeff Dowler,  Another excellent blog by you here in the rain.  Make it a great weekend.

 

Apr 21, 2017 10:28 AM #4
Rainmaker
1,139,862
Jane Peters
Home Jane Realty - Los Angeles, CA
Connecting you to the L.A. real estate market

Very good points as usual, Jeff. In our market multiple offers are still the norm so a buyer needs to be ready to go.

Apr 21, 2017 12:38 PM #5
Rainmaker
670,866
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Excellent advice Jeff that will help buyers know how to approach the home buying process in a hurry.

Apr 21, 2017 12:56 PM #6
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jeff all good suggestions, and especially number one for me as a Loan Originator.

Apr 21, 2017 01:15 PM #7
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Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Jeff - That's great advice for our buyers facing a difficult market - doing those things up front - and being ready to make a decision when it's right - will greatly enhance the chances for success. Have a great weekend!

Apr 21, 2017 01:46 PM #8
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

That's good advice Jeffrey Masich  This market is not one to play games in.

Thank you Will Hamm  I appreciate the kind words. Have a wonderful weekend yourself!

Jeff

Apr 21, 2017 04:28 PM #9
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Jane Peters 

Yep, same here in many cases. You have to decide quickly for many properties or take the chance it will disappear. Some homes ARE sitting on the market for a couple of weeks - there's a message usually.

Enjoy your weekend!

Jeff

Apr 21, 2017 05:25 PM #10
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Nick & Trudy Vandekar  Some I have worked with are ready to rock n' roll but others need more time. As long as they are prepared they can make the decision that's right for them at the appropriate time.

Jeff

Apr 21, 2017 05:28 PM #11
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

George Souto 

Well it's key. Nothing will happen if #1 is not in place and in good shape.

Enjoy your weekend!

Jeff

Apr 21, 2017 05:29 PM #12
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Thanks for stopping by Dick Greenberg  We all know that to be true as we see issue time and time again. Our challenge is to help buyers got completely ready, and understand the realities of the market they are in.

Enjoy uour weekend!

Jeff

Apr 21, 2017 07:21 PM #13
Rainmaker
4,529,426
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks Jeff.  This is excellent advice for buyers in all markets.

Apr 22, 2017 04:56 AM #14
Rainmaker
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Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hi Jeff -- very good strategy and while all six points are excellent, I particularly like Number Six --- having a mindset of decisiveness.  So important and unfortunately overlooked far too often by those who remain buyers instead of new homeowners.  

Apr 22, 2017 08:09 AM #15
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Gabe Sanders 

Yes I think these strategies are important any time and in any market. Given how quickly buyers need to respond these days they have to be fully prepared to move quickly, and have all their ducks in a row, so to speak!

Jeff

Apr 23, 2017 01:43 PM #16
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Michael Jacobs 

Many buyers these days are surprised at how fast things can move, and what they need to do. Even if they know what they want, have a good sense of the market, and have their pre-approval and POF in order there is still the psychological hurdle some have to overcome...to decide quickly and move forward, rather than thinking it over for a day or two.

Jeff

Apr 23, 2017 01:46 PM #17
Rainmaker
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Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

This is a good list for buyers, Jeff. Thanks for sharing!

Apr 23, 2017 08:04 PM #18
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Thanks for the compliment Nathan Gesner  I hope buyers who read this will find it useful.

Have a terrific week ahead!

Jeff

Apr 23, 2017 10:48 PM #19
Rainmaker
4,854,785
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

This is excellent advice to share with prospective home buyers.

Apr 29, 2017 04:48 AM #20
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