In case you’re unaware, the temperatures outside aren’t the only thing heating up in the Carolinas. So is the market for buying a new home. In fact, if the market gets any hotter, you might need to invest in one of those smoke detectors we mentioned in our recent article on home safety. OK, forgive the hyperbole here, but you undoubtedly get the picture. Fueled by historically low interest rates, a recent round of additional government stimulus money and the fact that people increasingly wish to work in their pajamas, homes are selling fast enough to make any ordinary man or woman’s head spin. If you’ve recently considered buying a home, trust your instincts and know there’s no time like the present. Following are five ways to make your very best home offer in this sizzling market.
1) Get a Pre-approval
A pre-approval is often the No. 1 key to a seller accepting your offer to buy their home. In today’s market, a prequalification just isn’t enough anymore. You need a pre-approval before home shopping. A pre-approval tells the seller’s agent a mortgage adviser has looked closely at your financial situation and they’re confident about being able to later grant you formal approval for a mortgage loan.
A Fairway of the Carolinas mortgage adviser can you tell all about Fairway’s Certified Pre-approval, which guarantees a prospective buyer like you up to $7,500 in refunds in the HIGHLY unlikely scenario you apply for a home loan but don’t ultimately gain final approval. Fairway’s Certified Pre-approval all but totally guarantees the buyer gets to the closing table on time!
2) Find a Trusted Mortgage Adviser
We have a lot of these at Fairway of the Carolinas, and all of them are more than equipped to help you make the absolutely cream-of-the-crop offer on the home of your choosing. All you need to do is contact us to get your loan consultation set in motion.
3) Begin Researching Homes Online
Whether it’s Zillow, Trulia, HomeFinder or the FairwayNow app, there are lots of places to begin your home search. Try out as many websites as you wish to try and let your mortgage lender (hopefully, Fairway of the Carolinas) and a real estate agent know what’s caught your eye and a few homes you might want to pursue.
4) Talk with a Real Estate Agent
Talking with a buyer’s real estate agent about homes that interest you is both free and essential to ultimately being able to make an offer. Without the guidance of a Realtor who knows the area where you’re looking to make a home purchase, it’ll be difficult to move forward. Plus, once you’ve settled on the home you want, your agent can arrange for you to go and see that home in-person. Later on, your Realtor can help you negotiate a more favorable price with the seller’s agent, hopefully saving you a few bucks at the closing table.
5) Keep Your Finances in Order
It’s always important to keep your finances in order. But that’s especially true when you’re searching for a home in a hot market. Keep your credit score up, don’t switch jobs and avoid big purchases (vehicles, boats, etc.) Being wise about how you spend your money right now will help you make the best offer you possibly can when you find the home you’ve always wanted.
Final Thoughts
Feeling more confident about your ability to make a great home offer? We certainly hope so. Don’t hesitate to reach out with any questions you may have. At Fairway of the Carolinas, we’ll be happy to fill in the gaps so you can be well on your way to securing the loan you need for the home of your dreams.
Click for a free rate quote
*Up to $5,000 toward forfeited earnest money deposit funds, up to $1,500 total toward the reimbursement of lost moving and storage expenses, and/or up to $1,000 total toward the reimbursement of lost inspection and appraisal fees guaranteed to buyers if Fairway Branch 8550 doesn’t close your loan transaction. Guarantee starts with the completion of the application with Fairway and is only valid under the following conditions: the applicant must submit all documentation within 24 hours from the time it was requested; the applicant cannot change the loan product(s) and/or terms from those which were originally applied for; the borrower is not applying for VA, Bond, or Brokered Loan; the closing does not occur due to issues attributable to third parties such as a lack of certificate of occupancy, unresolved title issues, etc., or if the seller or purchaser backs out of the closing; the closing does not occur due to events outside the control of Fairway, including inclement weather, natural disaster, or other catastrophic event. Contact your Fairway loan officer to determine if you qualify. Guarantee subject to change without notice and is not valid with any other incentives or discounts. Loan must close on or before 12/31/2021. Promotion expires 12/31/2021. Final approval is subject to a full review of creditworthiness, underwriting approval based on program guidelines and, including but not limited to, a satisfactory appraisal. Copyright©2021 Fairway Independent Mortgage Corporation. NMLS#2289. 4750 S. Biltmore Lane, Madison, WI 53718, 1-866-912-4800. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Equal Housing Opportunity. TX Location: 1800 Golden Trail, Carrollton, TX 75010. Fairway Independent Mortgage Corporation NMLS ID #2289 (www.nmlsconsumeraccess.org).
