Having the right strategy when making an offer is the best way to go from house hunting to sold! Here's my advice to set yourself up for success.
Start the process early.
It's good to start the house buying process early. This helps you to get in-depth knowledge of the current market, as well as get a good grasp on what you can realistically afford. This includes scheduling a buyer's consultation months before you may be ready to buy. There is a lot to learn and prepare for including getting your finances in order, saving for a down payment and closing costs, and getting pre-approved. It's also a great time to begin your "wish list" of what you are looking for in your next home. Being prepared helps you to feel confident as you begin to look at houses and prepare to make an offer.
In today's competitive market, you have to be patient. Inventory is low. Houses that are priced well and in good condition tend to go quickly. It may not be possible to find your dream home in a week or month. Set your expectations accordingly and talk to your real estate agent about what is realistic.
It's very important to think through the terms of any offer you make. The highest price doesn't necessarily equate to the winning offer. Position yourself in the best possible place to have the competitive edge. In other words, work with a reputable local lender, don't low ball an offer to see just how low the seller is willing to go, and don't ask the seller to pay all of your closing costs. There may be some other terms that your real estate agent can work into the offer that could help your offer to stand out. Talk through all of the options with your real estate agent.