How to Buy a Home in a Seller’s Market

How to Buy a Home in a Seller’s Market

How to Buy a Home in a Seller’s Market

You might have heard the real estate market is hot and been discouraged by the news. As stressful as buying a home may seem, won’t a hot market make it even more intense? Houses getting offers at lightning speeds may make it more challenging to end up with your dream home, but it’s not impossible. Here are nine tips for buying a home in a seller’s market.

Work with a Savvy Realtor

An experienced real estate agent can offer sound advice, help you move quickly, and give you tips on how to make a compelling offer. Choose a Realtor who makes you feel comfortable and who is responsive to you. A high-performing agent may be the difference in landing the home you want or missing out.

Get Pre-Approved 

Already being approved for your mortgage shows the sellers you’re serious about purchasing a home. A pre-approval may make you look better than other buyers. Contact a loan officer to find out your options (FHA programs, a VA loan, a traditional mortgage, etc.) and make it happen.

Move Fast

In a seller’s market, you’re not going to have the luxury of thinking things over for a day or two. Houses are getting multiple offers within minutes of hitting the market! Settle on the type of home you want and the budget you need, and if you find a house that meets that criteria, jump on it.

Don’t Lowball Your Offer

Coming in under the asking price is going to leave you high and dry. If you’re buying during a seller’s market, accept that you need to offer at least asking price to make sure you’re even in the game.

Pony Up the Earnest Money

If you can afford it, offer a larger amount of earnest money than normal. A few thousand more dollars will show the sellers you’re serious about their property.

Leave Off the Contingencies

Chances are good the other folks making offers on this house won’t be asking for a long list of repairs and updates. You shouldn’t either. Contingencies irritate sellers, and offers that don’t include them will be more attractive.

Add a Personal Note

Include a note along with your offer explaining why you want to live in their house. Be authentic and let the seller see into your life and family. If offers are equal, sellers will choose the one they feel most connected with.

Be Ready to Move On

A seller’s market is no time to fall in love with just one property, because you may very well get your heart broken. Stay optimistic and hopeful, but keep your head in the game. If you miss out on a house, there’s bound to be another one better suited to you.

Call MIG to discuss your mortgage options and get pre-approved for you next mortgage. We’re here to do everything we can to make sure you get a seat at the closing table for your dream home.


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Mortgage Investors Group, based in Tennessee, offers residential financing in a number of states in the southeast, See MIG Service Areas. Terms and conditions to apply to home financing. We want to share with you the loan terms vary based on several characteristics and your financial profile. These include but are not limited to loan program, loan purpose, occupancy, credit history, credit score, assets, and other criteria per loan type. The repayment terms and interest rate may vary from time to time. The terms represented here are based on certain assumptions outlined below and/or noted on the loan outline page. Additional details concerning privacy, program disclosures, licensing specifics may be found at Legal Information.

MIG Loan Officers will help gather the information needed for an individual assessment to provide home financing which matches the loan characteristics with your home financing needs based on your financial profile, when you are ready to begin a full loan application. For estimates and general information before that step, the basis for which the mortgage financing information are as follows:

  • Rates are subject to change at any time.
  • Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
  • Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
  • Payments will vary based on program selection, current rates, property location, etc.
  • Not all programs are available in all states.
  • Some loan programs may not be available to first time home buyers.
  • Terms and conditions apply, which may include restrictions or limits per loan program.
  • Information is generally based on primary residence occupancy with no cash out when refinancing.
  • Unless otherwise stated, terms shown are estimates based in part on credit score of 700 or higher; owner occupancy, escrow account is established for taxes and insurance(s); debt-to-income ratio no higher than 43.0%; PMI applies to conventional loan programs over 80.0% LTV; VA,FHA & RD require insuring fees included in loan and/or payment; fixed rate, 30 year term.

An MIG Loan Officer is available to help with your financial details to determine which characteristics apply to your situation for a personalized look into which loan program best fits your home financing needs. Please use the Find a Loan Officer link or reach out to Mortgage Investors Group at 800-489-8910. Equal Housing Lender 1.2020