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How to Compete Against Other Buyers on the Highlands Ranch Real Estate Market

June 1, 2016

Have you found the home of your dreams on the Highlands Ranch real estate market only to discover that other buyers are interested, too? Often times, this can lead to a bidding war where buyers end up spending way more than they originally planned. Avoid this unpleasant situation with these tips for beating out other buyers:

Throw out most of your contingencies.
When buyers have the upper hand on purchasing Highlands Ranch real estate, they can choose to add in contingencies to their contracts that ask the seller to make repairs, upgrade appliances or include furniture in the deal. However, when the market is competitive, buyers do not have this same advantage. Make your offer stronger by getting rid of most of your contingencies so the seller doesn’t have to jump through hoops to sell you his or her home. The one contingency that should never be discarded, however, is the inspection contingency. Keep this within your contract to ensure that you are aware of any issues with the property. Home buyers, learn about the importance of home inspections here.

Move fast.
When there are a lot of buyers on the Highlands Ranch real estate market, time is of the essence! Work with a real estate agent who is just as motivated as you are to find your new home. You should be notified right away when listings that fit your needs hit the Highlands Ranch real estate market, and your agent should work quickly to get you in for a viewing. By moving fast, you may beat other slower buyers to the punch.

Give the seller what he wants.
No, this doesn’t mean that you have to pay the full asking price of a home on the Highlands Ranch real estate market in order to win the offer. However, it does mean that you should learn exactly what the seller is looking for with a little help from your real estate agent. Does the seller want a quick close so he or she can afford to purchase his or her new home? Or maybe the seller would prefer a lengthier closing to allow him or her more time to move out. Either way, find out what the seller is looking for, and if it’s possible, offer it!

Get pre-approved.
Show the seller and their agent that you’re serious by getting pre-approved by a lender. Typically, getting pre-approved requires that the lender collect your pay stubs, tax information, and verify your employment history. A pre-approval is not a guarantee that you will get the mortgage that you seek, however it is the closest thing to it. By showing that you’re pre-approved, you are telling the seller that the closing will be as quick and painless as possible, which is definitely appealing to anyone on the Highlands Ranch real estate market.

Now that you know how to be competitive, it’s time to find a Highlands Ranch real estate agent who can guide you to the home of your dreams. Contact us at 720-220-2059 to talk to the experienced agents at Colorado Home Sales.