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<p><strong>Courtesy of Jimmie Van Hooser your REALTOR®  - 931-320-2142 </strong></p>
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<h3>Tips for Buying in a Tight Market</h3>
<p>Increase your chances of getting your dream house in a competitive  housing market, and lower your chances of losing out to another buyer.</p>
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<p><strong>1. Get prequalified for a mortgage.</strong> You’ll be able to make a firm commitment to buy and your offer will be more desirable to the seller.</p>
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<p><strong>2. Stay in close contact with your real estate agent to find out about the newest listings.</strong> Be ready to see a house as soon as it goes on the market — if it’s a great home, it will go fast.</p>
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<p><strong>3. Scout out new listings yourself.</strong> Look at Web  sites such as REALTOR.com, browse your local newspaper’s real estate  section, 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.</p>
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<p><strong>4. Be ready to make a decision. </strong>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.</p>
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<p><strong>5. Bid competitively.</strong> 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.</p>
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<p><strong>6. Keep contingencies to a minimum.</strong> Restrictions  such as needing to sell your home before you move or wanting 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 mortgages  for a short period.</p>
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<p><strong>7. Don’t get caught in a buying frenzy.</strong> Just because  there’s competition doesn’t mean you should just buy it. And even  though you want to make your offer attractive, don’t neglect inspections  that help ensure that your house is sound.</p>
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