3 Ways To Beat The Competition When You Buy A Knoxville Home
With most Knoxville homes for sale selling quickly, there’s no denying that buyers are facing crazy competition. The days of a buyer’s market are passed and Knoxville is a strong seller’s market.
Unfortunately, as a buyer, facing competition when you buy a Knoxville home is less than ideal. The thought of getting into a bidding war and possibly missing out on homes is not something most buyers want to deal with.
But, what if you could beat the competition altogether?
In this post, we’ll show you 3 ways to beat the competition when you buy a Knoxville home.
Prove That You’re A Solid Buyer
One of the best ways to beat out the competition when you buy a Knoxville home is to prove that you’re a solid buyer. When it comes to debating multiple offers, sellers often can be swayed when they know the buyer is solid. This gives them confidence that they will close on time and there will be no major hiccups during the transaction.
Here are a few ways you can show you’re a solid buyer:
- Provide a recent pre-approval letter from a reputable lender
- Increase your earnest money
A pre-approval letter from a reputable lender will show that you’re able to secure financing. With so many questionable internet lenders these days, you want to prove you’re using a lender that will close on time. In addition, increasing your earnest money shows that you’re committed to the transaction. It shows what you stand to lose should you choose to walk away from the transaction for a reason other than what is outlined in the contract.
Look At Homes That Have Been On The Market For Awhile
Even when the market is competitive, there are still those homes that remain on the market. Maybe they’ve been overpriced or they need a bit of TLC because they’re outdated. But, these are the homes that most buyers tend to overlook. If you want to beat out the competition when you buy a Knoxville home, looking at homes that have been on the market for awhile can help you find something without the competition.
Looking at homes that need a little TLC can give you the option to get a good deal on a home, if you have the cash to fix it up. For sellers who have had their home on the market for awhile, they’re more willing to work with buyers. After seeing homes near them sell quickly, sellers who have had their home son the market for awhile are more likely to negotiate.
If you’re someone who can look and see the potential in a home, this can be a great way to avoid a bidding war and still find a great home.
Work With An Experienced Agent
Finally, when it comes to beating out the competition when you buy a Knoxville home, working with an experienced agent can pay off big time. Agents who are familiar with the area have an understanding of the area. Agents who are well connected can know before new homes hit the market, this can give you an edge on the competition if you’re able to see the home before it hits the market.
An experienced, dedicated agent can help keep an eye out as new things hit the market. As a buyer, it can be hard to always keep up with what hits the market. When you have an agent who is motivated to help you find a home, they can do that task for you. They can keep up with what is hitting the market.
Are you interested in buying a Knoxville home for sale? If so, please do not hesitate to let us know. Rick can be contacted at 865-696-9002 or via email at [email protected]. Kati can be contacted at 865-696-1888 or via email at [email protected]. Also, be sure to check out our Knoxville home search page to see what homes are for sale in the area.