How can I protect myself as a buyer in today’s competitive market

How can I protect myself as a buyer in today’s competitive market?

In today’s crazy hot real estate market, offers with financing and home inspection conditions can be less attractive to sellers. So, what can you do to protect yourself and still compete with multiple offers?

For starters, if you covet a house that’s expected to sell in multiple offers, you could hire a licensed home inspector to accompany you to the showing. This will provide you with relevant information about the state of the house before submitting an offer.

On the other hand, some properties do not sell in multiple offers. The sellers’ leverage decreases and it makes it harder for them to refuse a home inspection condition. A knowledgeable realtor will be able to predict whether a home is expected to sell in a multiple offer scenario or not.

If you wish to submit an offer without a financial condition, we suggest that you meet with a mortgage broker before your home buying journey begins. Request a firm pre-approval letter and submit it with your offer to make it more appealing to the sellers. Buyers that provide their broker with the listing information of the desired home receive more precise pre-approvals. Finally, we recommend that you make sure to have the amounts required for the deposit and down payment.

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