Issue link: https://nest.uberflip.com/i/536499
Here are a few tips that you can begin with to get your foot into this fast paced game of real estate. 1 Get prequalified for a mortgage. You'll be able to make a firm com- mitment to buy and your offer will be more desirable to the seller. 2 Stay in close contact with your real estate agent to find out about the newest listings. Be ready to see a house as soon as it goes on the market — if it's a great home, it will go fast. 3 Set up a Hot Sheet. Ask your agent to set up a Hot Sheet for you. They will input your specifics - price range, area param- eters, ideal number of bedrooms and bath- rooms and approxi- mate square footage. When a house with your criteria hits the MLS you will be emailed right away. 4 Scout out new listings yourself. Look at Web sites such as REALTOR.com and drive through the neighborhood to spot For Sale signs. If you see a home you like, write down the address and the name of the listing agent. Your real estate agent will schedule a showing. 5 Be ready to make a decision. Spend a lot of time in advance deciding what you must have in a home so you won't be unsure when you have the chance to make an offer. However, on that same note - read #6. 6 Be willing to pivot on your previous ideals. Consider the sorts of features you are willing to give up if neces- sary. House style or yard space may be easy to overlook if you can get into your general area. But, also be willing to go outside of your first-choice neighborhood and check out adjacent areas. These could be the next turn-around neighborhoods when the over- all housing market improves. You could also do an about-face and consider condos rath- er than single-family homes. This might have the advantage of shortening your commute to work. 7 Bid competi- tively. You may not want to start out offering the absolute highest price you can afford, but don't go too low to get a deal. In a tight market, you'll lose out. 8 Keep contingencies to a minimum. Restrictions such as needing to sell your home before you move or want- ing to delay the closing until a certain date can make your offer unappealing. In a tight market, you'll probably be able to sell your house rapidly. Or talk to your lender about getting a bridge loan to cover both mort- gages for a short period.