Your desire to enter the real estate market has been thwarted every so often by competitors who ended up buying the property you were interested in. How can you change this? Expediting the process of buying a home could, perhaps, be the best solution to your problem.
In fact, quick home buyers like you can hasten the home-buying process even if you don’t have a ton of money. For instance, you could hire a real estate agent with a huge network and, through him, submit your presale offer for your dream home even before it’s put on the market. Alternatively, if you choose a home in a fairly inexpensive area, you can close a deal for a home within a month if your offer is good.
Ways to Shorten the Home-Buying Process
Here are some more ways by which you can quicken the pace of home-buying:
- Put Together a Team of Real Estate Professionals
You can speed up your home-buying process by appointing a team of real estate professionals that includes a real estate attorney, a real estate broker, a mortgage banker. They should work cohesively and harmoniously to guide you through the buying process. By choosing the right property, ensuring that the titles are clear and being able to find a property that is right for even before it hits the market, they will work in your interests.
- Search for Homes in Areas with Lots of Vacancies
As all home buyers, it’s quite likely that you too want a home that is accessible to public transport and is near shops, schools, and hospitals. Now, also ensure that there are several vacancies in the areas in which you house-hunt.
This gives you sufficient choices, for one. If you have many choices, quick home buyers like you will ultimately choose one of them. And if you enter places which are less financially prosperous with a good offer, naturally you can clinch a deal faster.
- Build Up an Excellent Relationship with Your Estate Agent
With an excellent estate agent to guide you through the process, you can make a quick buy. Apart from his many virtues, your agent should also be well-connected in the field. He should be able to spot properties that are due to enter the market days before the general public. If you are on good terms with him, he will even give you a preview before anyone else.
- Get a Home Loan Preapproval
Buying a house involves huge amounts of paperwork, particularly if you’re going in for a mortgage. So, spend time putting together all the necessary documents and, with the help of your mortgage broker, get preapproval on your home loan before you begin looking out for a house. This can prove to any landlord that you are a serious buyer with bank approval and do have the money to buy his home.
- Make a List of Features You Must Have
Stop looking at properties you don’t really like and set them aside for ones that you instinctively like and want. Pursue the latter and buy one of them. Ensure that they have at least most, if not all, the features you’re looking for in a home and go with it.
The home-buying process needn’t be a long-drawn-out process if you approach it with the right mindset and professional assistance. A preapproved loan can also work its magic on prospective landlords and help you secure your dream home.