How to Compete in a Multiple-Offer Market
In a fast-moving real estate market, finding and securing your ideal home takes more than luck. It takes clarity, preparation, and a smart, strategic approach. Whether you’re a first-time buyer or a seasoned mover, knowing exactly what you want and having the right team by your side can make all the difference. From defining your non-negotiables to working with a knowledgeable agent, researching the market, and acting quickly when the right home comes along, every step counts. Learn how you can turn your homebuying goals into a done deal.
Identify Your Non-Negotiables
Before starting your home search, identify your non-negotiables. These are must-have features like location, size, or layout. This helps narrow your options and keeps you focused on a smaller number of properties that truly meet your needs, making the process more efficient and less overwhelming.
Work With a Real Estate Professional
Working with a licensed real estate agent provides access to accurate, up-to-date listings and expert guidance throughout the process. They can assess a home’s fair market value, help you discover off-market properties with less competition, and connect you with reliable local lenders who close quickly and communicate well, which is something sellers often value highly.
Be Prepared and Act Fast
In a competitive market, being prepared and ready to act fast can make all the difference. Have your paperwork in order, get pre-approved (not just pre-qualified), and make sure your down payment is ready. Focus on touring homes that meet your criteria within your budget, and be prepared to make an offer quickly if you find one you love.
Research
Researching before you make an offer can give you a strong edge. Work with your agent to price your offer correctly and understand what the seller values, like a quick closing or fewer contingencies. Tailoring your offer to meet those needs, when possible, can help you stand out. Including a personal letter can also make a difference by creating an emotional connection with the seller.
Offers and Closings
In a competitive market, there’s often no second chance, so make your first offer as strong as possible. If you’re serious about winning the home, consider covering some or all of the seller’s costs to make your offer more appealing. Also, be prepared to close quickly. If the seller hasn’t specified a timeline, aiming for 30 days or less is typically a strong move and shows you’re ready and committed.
Get in Touch
As a trusted local lender, Coastal Custom Mortgage offers personalized service and clear communication every step of the way. Whether you’re buying your first home or your next one, we’ll guide you through the financing process with confidence and care. Reach out today to get started. We’d love to work with you!