Aug 11 2017
Home Buying Tips: Create a Smoother Bidding Process
Posted in All Blog Posts, Home Buying
Bidding on a house can be a stressful process, especially when you’ve found your dream home. While the wait to hear back on if your bid has been accepted can be a time of anxious anticipation there are things you can do to make it less so. By being prepared ahead of time and knowing what to expect you can create a smoother, and therefore, less stressful bidding process. Keep reading for some tips on how to do just that below!
Know what you’re willing to spend.
Decide on what your ideal price and what the maximum amount you will be willing to spend are before beginning the bidding process. This is an ideal step to take before beginning house hunting as well. Doing so will allow for a more streamlined bidding process, especially if there is a bidding war. Knowing when an offer is out of your budget will prevent financial stress now and in the future as well.
Get pre-approved for a mortgage.
Before putting in your bid get everything you need in order to ensure you are pre-approved for a mortgage. Once you are approved you can show the seller your pre-approval paperwork when placing your bid. This will help you look more serious about your offer and even a more attractive buyer to the seller.
Schedule a home inspection.
Scheduling a home inspection before placing your bid will allow you to make a more informed offer on the house you are interested in. To get the most out of your inspection have a list for the inspector of any concerns you had about the house during your walk through. Ask your real estate agent for a referral to an inspector they know and trust as they will have worked with many before.
The real estate agent knows best.
Listen to any advice your real estate agent may have for you throughout the bidding process. They are an expert in the home buying field and familiar with the different intricacies of home buying procedures. Not every home buying process is the same and an experienced real estate agent should be familiar with variations to each sale. If your real estate agent suggests a course of action follow suit to ensure that the buying process goes more smoothly. While I can’t guarantee an entirely stress-free experience when bidding on a house, there are things you can do to help ease any anxiety that comes with attempting to buy your dream home. With preparedness and a smart real estate agent on your side you can feel more confident and less anxious in your bidding process. Once you have the keys to your new home in hand you will be glad you took the steps necessary to create a smooth and successful process!