Partner with an experienced Realtor who can guide you in your homeownership journey.
Develop an understanding of the market in counsel with your Realtor.
Be prepared to act quickly! Make it a priority to visit the house the first day it is listed. If the house meets your expectations, write your offer that day.
Get pre-approved by a lender who is well-respected in the market. Beware of on-line lenders!
Use conventional lending programs (as opposed to FHA, VA, or similar). These are available with as little as 3% down.
Be prepared to make an offer in excess of the list price; a 3-5% premium is a good guideline. Note that offers that are significantly above list price are suspect. The lender will have the home appraised by an objective appraiser which reduces the risk that you pay a price that exceeds the fair market value of the home.
If you ask the Seller to pay closing costs, offer the Seller a premium in exchange for doing so.
Set a short time for having the inspection completed. If buying a condo or townhouse, consider waiving the inspection based upon the general condition of the building and Home Owners’ Association.
Be flexible regarding close date. Be prepared to move in with family or friends for up to a month to meet the Sellers’ preferred close date.
Write a letter introducing you to the Sellers. Compliment them on how their home meets your needs and wants. Describe what you like about the home and share your dreams for living there. An emotional attachment between Buyer and Seller often results in acceptance of your offer over other competing offers.