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Purchasing a Home

Buying a House? Beat the Competition

Want to buy your dream house, but worried about possible competition from other prospective buyers? Increase your change of success with these proven tips.

Know What You’re Looking For

Buyers who know exactly what they want in a home can often outdo competitors who don’t. It’s a rare purchaser who can select the right property solely by looking at a photo on the Internet or a printed flysheet, so it’s helpful to set basic priorities before beginning your house hunt.

Real estate experts can usually classify three types of buyers, based on their top housing priority.

"Location buyers" are driven to live in one particular neighborhood.
"Turnkey buyers" want a flawless home.
The third group has a particular floor plan in mind.

Deciding what’s most important to you from the start can help you make a decision quickly.

If you’re thinking of making an offer, consider these suggestions:

Cut Your Reaction Time

If you’re looking in an area where housing demand is strong, your reaction time is crucial. Offers that come in immediately after a home is listed gain the greatest consideration. Many buyers who have gone home to "sleep on it" often awaken to discover that someone else has claimed the house first.

Increase Your "Earnest Money"

The offer on a home is typically accompanied by a deposit, formally known as "earnest money".

In most areas, the size of the deposit is based upon a particular percentage of the purchase price. Although there’s no requirement that you put down a larger-than-usual deposit, doing so could be wise in a multiple-bid situation.

A large deposit check can be an impressive signal to the seller that you’re serious about going through with the deal.

Interested in learning more about obtaining your dream home? Contact Charley Farley at (603) 471-9300 or e-mail charley.farley@weloannh.com.

Compass Mortgage Inc. - 172 Route 101 - Bedford, NH 03110-5416
Office Phone: (603) 471-9300 Fax: (603) 472-8811 Toll Free Phone: (877) 211-5300

Homebuying Made Easy®

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