6 Tips for Home Buying in a Seller's Market

1 - Make your best offer first

In strong seller’s markets, making a list price offer quickly prevents competitive interest.

2 - Be ready to bid

If a quick offer of the listing price doesn’t work, the next step is to still make your best offer, but be prepared for it not to be your final offer.

3 - Don’t counter

There are no counter offers in a seller’s market. Buyers should put their best on the table.

4 - Use videos and letters

Not everything in a home sale is about money. A seller’s nostalgia for their home can be strong, and a short, personal letter from a buyer that shares how they’d enjoy living there might sway them.

5 - Offer non-price factors

Some sellers will accept your price if you provide some non-price considerations that can speed up the transaction, also called contingencies.

6 - Have money for low appraisal

High home prices can lead to home appraisals that don’t climb as fast, leaving lenders to not fund the loan.

Source: motgageloan.com