Buying In A Sellers Market

Dated: February 18 2014

Views: 1785

Your best chance for success starts with understanding the type of market you are in. When inventory is severely reduced, sellers have leverage. Well-priced homes in desirable areas typically receive multiple offers. The offer they accept is nearly always the most favorable to them. While no one wants to pay more than list price, waive protective contingencies or keep a tenuous timeline, there are times when this is exactly what it takes to get into the most desirable homes in the very best neighborhoods. If you are trying to get into a home at an entry level price point in a prestigious neighborhood, this effect is even more apparent.

Aligning yourself with a Realtor who knows the local market and if and when to make the appropriate concessions, is probably one of the most important things you can do to insure you get the home you want in a timely fashion. Taking the time to understand the market yourself enough to accept this advice with confidence and expediency could be at the very top of the list.
Getting a deal on a less desirable property with location or condition issues isn't that difficult in any market. But knowledge and strategy are key elements in getting you the property you want, when you want it, in a tough sellers' market.

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