Do You Have Realistic Expectations For Buying In A Seller’s Market?
Do you have realistic expectations for buying in a seller’s market?
Seller’s markets are competitive, where homes can fly off the market in a matter of days, if not hours. Homes sell at or above list price. And, there’s absolutely no room for indecisiveness or inaction.
Buyers who are successful in seller’s markets are prepared and ready to act in a seller’s market. In this post, we’ll make sure that you have realistic expectations for buying a home in a seller’s market.
You’re Ready To Pay Full Price
In a seller’s market, homes tend to sell at or above list price. Unless a home is vastly overpriced, you can pretty much expect that you’ll at least be paying full price for a home. For many buyers, this can be a tough situation to come to terms with. After years in a buyer’s market, many buyers aren’t used to operating in a seller’s market.
It’s important that as a buyer you have realistic expectations about the market. In a seller’s market, it’s not always easy to find a true bargain, like you may have found in a buyer’s market. It’s important to know what is currently selling for in an area so that you’re comfortable with the prices.
Be sure to know how much you’re willing to pay before entering the market.
You’ve Got A Right Now Mentality
In a seller’s market, there is no time to lollygag. It’s important that before you start your home search you’re prepared. This means being pre-approved and knowing what you’re looking for in a home.
Once you do find a home that you love, it’s important to remember there are many other buyers out there who could be doing the same. In a seller’s market, there is no time to waste. If you do, you may miss out on a great house.
Simply said you’ve got to be ready to make a move when you’re buying in a seller’s market. There’s no time to wait to go look at a home and there’s no time to waste when you make an offer.
You’re Not Going To Play Games
Finally, when you buy a home in a seller’s market there’s no room for games. The days of writing a lowball offer and seeing what happens have come and past. If you’ve got dreams of getting a steal on a perfect home that’s just hit the market, those expectations are just that, a dream.
When you’re buying a home in a seller’s market, the reality is that you’re at a seller’s mercy. When sellers are getting multiple offers within days of their home being listed, sellers are able to get away with calling the shots. Sellers aren’t going to work with a buyer who is unrealistic about the current state of affairs.
Instead of trying to play games, consider what you can do to impress and woo the seller. That will go a long way when it comes to working with a seller. Sellers are greatly motivated by price and a transaction going smoothly, see what you can do to make the transaction easier.
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.