Things you need to pay attention to when buying a house in a hurry
We can all agree that buying a house is a mind-numbingly slow process. Usually, one needs from a couple of months to an entire year to buy a house. This is because there are many options to look at, many rivals to compete with, and tons and tons of paperwork to deal with. Simply, this is the way things are and we must accept them.
However, some people refuse to accept that, some people want to speed up this home buying process as they do not have that luxury we call time. How do they do that? Well, that is why we are here. We will share with you some tips and tricks for buying a house in a hurry, as well as some things you need to pay attention to as well, especially if you are buying your first home. Thus, if interested, keep on reading.
Find an Agent You Can Trust
The first thing you must do whether you plan on buying a house in a hurry or not is to hire a real estate agent you can trust. Having the right real estate agent is the key to buying the home of your dreams in no time. It is also important that that agent is a local one as they will be most familiar with the market in your preferred area. They will also know which homes will be hitting the market soon.
So, how does one find a proper real estate agent? Well, just as there are ways to find movers you can trust completely, there are also ways to find real estate agents. For example, you can start by searching online for agent listings, attend open houses, check out print advertisements, or simply ask for a recommendation from friends and family members.
In the end, pick a real estate agent who seems professional and experienced and who knows the market well. Moreover, make sure that that person is a good listener, that is, someone who listens to your demands and concerns. That is the best way to find somebody who can help you when buying a house in a hurry.
Your real estate agent must be a person of trust and experience!
Alt.tag: Two men shaking hands.
Make Sure You Are Preapproved for a Home Loan
If you have ever moved house before, you probably know how much paperwork that involves. You need bank statements, debt information, etc. Thus, if you know that you will have to move in a hurry, start by gathering your paperwork and all the necessary moving-related documents ahead of time. If you are buying a house remotely, start even sooner.
The next step, your agent will tell you this too, is to get preapproved for a home loan, not just prequalified. Once you have all of this ready, you will be able to walk into any house and show the sellers that you are a serious buyer and that you mean business.
Create a List of Priorities
Buying a house to move in short period of time takes planning and strategy. So, take a piece of paper and write down all the things that you would want out of your new home, as well as all the things you wouldn’t. Create a list of priorities. That way, you and your real estate agent will stop looking at the properties that do not fit your list, and thus, stop wasting time.
However, since you are buying a house in a hurry, it would also be a good idea to stay open-minded. That is, your priority list should not be long and you should be prepared to settle for something you did not have in mind at the beginning.
Talk to your real estate agent about your ‘musts’ and ‘nevers’.
Alt.tag: Two men talking.
Look for Slow Sellers
One of the best ways to buy a house in a hurry is to look for one that has been on the market for a longer period of time. Those owners are probably willing to do almost anything in order to sell it. So, yes, you will be able to buy a house, move in quickly, and maybe even save some money while doing so.
Thus, ask your real estate agent to look for houses that have been on the market for quite some time, or do this by yourself by checking the listings online.
However, if you decide to buy a house quickly using this method, be careful. In most cases, there is a very good reason why a particular house hasn’t been sold. It may require a lot of work, there may be something wrong with paperwork, or it may be in a bad neighborhood. Ask yourself whether you will be able to remodel your home, get the necessary paperwork, or forgive the bad location. So, be very careful and pay attention to everything before you sign anything!
Stay away from houses that seem too good to be true – they usually are!
Alt.tag: An ‘open house’ sign.
Make a Strong Offer
Now is not a time for negotiating, bargaining, and haggling. Now is not the time to ask yourself whether you can lower the price because the floors are not in good shape. If you want to buy a house you like quickly and efficiently, now is the time to show that you are serious about buying the house!
Thus, make a strong offer! Of course, you should consult with your real estate agent first, but you should not wait long. If an owner sees that you are serious and that there is no possibility of backing out or negotiating the price, he or she will be glad to sell you that house as soon as possible.
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