How To Buy A House And Win

Dated: 08/22/2017

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It can be exciting to buy a house, but let's face it, there is a lot involved; from searching for just the right property, to securing a contract, to getting through inspections and more. But perhaps few things can be more challenging than finding the house you love, then losing it to another buyer.

The housing market continues to maintain strength, and it's easy for homebuyers to end up with the short end of the stick in today's hot market if they don't follow a few time-honored strategies.

Here are four tips to help you come out on top:

1. Know your target market. While market conditions are generally hot, the market can vary from specific areas and price points. Your Realtor should be able to advise you about specific market and guide you accordingly. Couple this information with your own research so when you find your dream home, you are comfortable and avoid either underbidding or offering too much.

2. Be ready to move quickly. If a house is priced well and shows great, you can expect that it will not stay on the market long. Be ready to move quickly and negotiate appropriately to get the house you want. If you hesitate, you may end up going through months of frustration rather than enjoying your new home

3. Don't sweat the small stuff. When negotiating, try to think ahead to the enjoyment you and your family will get out of the home in the years to come rather than focusing on minor property blemishes or deficiencies that can be easily addressed later. Even paying slightly more than you'd hoped is a minor issue when taken over the course of many years.

4. Be flexible. While it can be difficult to look past your own self-interests, try to understand the seller's requirements and needs. Think of the process from his or her perspective, and try to appreciate what the seller hopes to get out of the transaction or do your best to accommodate a seller.

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