6 Tips for Buying a Home in a Competitive Market | Homespire Mortgage

Are you in the market to buy a home? 🏡 We’ve got you covered with 6 tips for buying in a competitive market.
1. Get pre-approved. ✅ Not only will this give you a solid budget to work within, but it’ll show sellers that you’re a serious buyer when putting in an offer.
2. Try to limit contingencies.⏱️ Contingencies add more time to the process and work for the seller.
3. Go in with a strong offer. 💪 This is why working with a Realtor is so important. They’ll help you assess the home's value and go in with the best possible offer.
4. Stay available.📲 Keep an eye on your phone and email. If your homebuying team has a question or needs a specific document, you’ll be ready to act quickly.
5. Be flexible.💜 If the seller wants to close in 30 days, do everything you can to make that happen. That also means working with a lender who has a proven history of doing just that.
6. Increase your earnest money deposit. 💵 Typically, EMDs range anywhere from 1 to 3% of the list price, but increasing that number will help your offer stand out. Just remember, if you back out of the contract for any reason, you're out that money. But if your offer simply doesn't get accepted, you'll get it back.
If you’re ready to jump into the market, don’t forget step number one. Click the 🔗 in bio to connect with your Homespire Loan Officer today to get pre-approved.
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Homespire Mortgage Corporation. Equal Housing Lender. All Rights Reserved. NMLS ID # 183215.
Corporate Office: 9711 Washingtonian Blvd., Suite 500, Gaithersburg, MD 20878. 1-800-531-5395 This is not an offer for a loan or any type of extension. Eligibility for a loan or extension of credit from Homespire Mortgage Corporation is subject to completion of a loan application, credit, income, and employment qualification, and meeting established underwriting criteria. Rates are subject to change without notice based on market conditions. See Loan Consultant for information on program income limits, buyer contribution, area median income, debt requirements, and other application details.