
If you're new to home shopping you may be surprised to learn that it can take a long time to find a home — especially if the market is ultra-competitive. That is not good news when you're in a hurry to buy a home, and you are constantly outbid as you search through Beavercreek homes for sale. What to do? Sometimes a buyer can submit a presale offer before a home goes on the market; or, if you're looking at a home in an area with a less-than-roaring economy, you could close on a house much quicker, particularly if you make a strong offer.
Our REALTORS® can help you get a jump on that home you're longing for. Look at these tips and put them into practice as you shop for that fabulous Beavercreek home you've dreamed of.
- Get the right team together.
Didn't know you needed a team? Well, you do if you want a quick buy. Among those essential for your team are a real estate attorney, mortgage banker, real estate broker, and most important, a great real estate agent. You want one who knows your area and who is familiar with the trends — how high and how low to go when selling or buying. A good agent will also know what properties are coming onto the market and they may just be persuaded to give you a preview.
- Get your paperwork together so you can obtain a preapproval letter.
That preapproval letter will show you're serious. To get it, you'll need a pile of papers, including W-2s, 1099s, bank statements, gift letters, debt information, and anything that pertains to a mortgage approval process. Once you get a bank-approved letter, proving you're a serious buyer who can afford the home, you can go to an open house with confidence. The pre-approval will also realistically show what price home you can afford.
- Shop in an area with a lot of homes for sale.
One of the best ways to find a home fast is to shop in an area with a lot of homes for sale. It just stands to reason: shop amid lower-home inventory, and you're less likely to find anything. Think about it: you'll just be bidding on the same homes as other house hunters. But if you make a point of shopping in areas where there are more homes for sale, you're likely to find more homes that have what you're looking for. You're even more likely to find a home if you make a strong offer — like a 20 percent down payment.
- Home in on the type of home you want.
There are many options when choosing a home to buy: a house, condo, townhouse, duplex, or a multi-family building with a couple of units. In addition to deciding which will serve your needs best, you'll also be considering other details, like size and neighborhoods, as well as bathroom and kitchen layout, appliances, and more. Being flexible can help you find a home faster, but you also want to get the home you want.
- Sell your house before you buy.
A contingency sale — where you have to sell your home before you can buy — can really slow things down. Unload your home before you begin searching. Not only will you have sizable equity in the bank, but you'll have flexibility with your closing date. Be willing to put your stuff in storage and rent month to month till you find your home. You're pretty much ready to go when you find your dream home.
So don't hesitate; get going today. Contact Wright-Patt Realty to answer your questions.