Markets like Denver have gotten hot after years of slow real estate markets. A hot real estate market means bidding wars and paying more than you want for the home you want. No buyer wants that, so how can you get a great deal with the markets heated up?
There are a few things that you, as a buyer, can do to help give you a leg up over others and avoid expensive bidding war scenarios. It will take some effort on your part, but worth it in the end.
Next, have your financing in order. Being able to confidently make an offer on a property, and tell the seller that you have your financing in place may put your offer above one that is higher but may be from a buyer without financing in place. Also, have a home inspector ready to go on short notice. Having everything lined up means sellers know you are serious about buying.
Be decisive. Hemming and hawing or going back and forth between one property and another may mean missing out on both. In a hot real estate market, you should know what you want, be clear with your Realtor about your preferences and then make a decision quickly when you see what you want.
Hire an experienced Realtor to represent you. Make sure they listen to what you want as a buyer, are aggressive in looking for it and representing your interests. An inexperienced Realtor can cost you the chance at getting the property you want. A timid Realtor may cause you to pay more for a property.
Don’t let a hot real estate market mean you pay too much for your dream home.