Real Estate Tips: How to Buy a House When You Have Competition

ID-10053857As we’ve mentioned before, the housing recovery has hit Atlanta, and demand for homes is outstripping the inventory! With Fulton, Cherokee, Cobb County, and Alpharetta homes for sale in high demand, it is not uncommon for some home sellers to receive multiple offers. As a home buyer, that obviously raises some questions.

So how can you get the home you want even when the competition is steep? Take a look at these tips for winning a real estate bidding war to find out.

How to beat the competition and buy the house you want

Keep your offer simple– If a seller is reviewing multiple offers, your list of requests for repairs and upgrades will put you at the bottom of the list fairly quickly.

Put up or shut up- If there are multiple offers on the home you want to buy, it is definitely not the time to haggle. Make the best offer you’re willing to give, and consider offering more than the asking price if you really want the house.

Appeal to emotion- Be up front with the sellers. Tell them you would love to raise your family in their house. For many people, selling a home can be highly emotional; knowing that it will be in good hands, allowing another family to make happy memories there may tip the scales in your favor.

Demonstrate commitment- Be ready with your pre-approval letter from your bank and a “good faith deposit” to show that you’re serious. 1% is typical, but 3-5% is even better.

Buying a home can be stressful, but with the help of an experienced Alpharetta Realtor, you can end up with the home of your dreams! Contact The Premier Group today or visit our listings to browse homes for sale in Alpharetta and throughout Cobb, Cherokee, and north Fulton counties.

Photo by Stuart Miles via FreeDigitalPhotos.net